Balancing remote and office work

Hugh Scantlebury at Aqilla explores the future of hybrid work policies

 

The remote work debate has gained intensity in our post-COVID world. The flexibility it delivered left a lasting impression, and UK employees are reluctant to return to their traditional nine-to-five office routines. This feeling is so strong that over a third are willing to leave their jobs if compelled to do so. 

 

Even so, many businesses are unwilling to offer long-term remote work, and almost 70% of companies, including industry giants like Apple, Goldman Sachs, Google, and Zoom (ironically!), are among those pushing for a return to office-based working arrangements. With employees and employers seemingly at opposite ends of the debate, a middle ground is needed to ensure employee job satisfaction and smooth, profitable company operations.

 

The appeal of working from home

It’s easy to understand why so many employees favour remote over office-based work. It can feel more relaxed and convenient to work from your own home. Plus, there’s more flexibility to deal with life admin — even if that’s just being around to sign for deliveries (no more afternoons booked off waiting for your new washing machine or sofa).

 

These things might sound trivial to employers, but a little flexibility can go a long way in terms of employee happiness and, in turn, company performance. 

 

Healthy work-life balance

The average UK daily commute eats up nearly an hour. By eliminating this travel, employees win back valuable time for themselves. Time for self-care, a new hobby, a trip to the gym, a stroll in the park — or simply keeping on top of the housework.

 

This spare time fosters a healthier work-life balance, benefiting employees and their companies. Well-rested, less stressed employees tend to be more motivated, happier and productive. This, in turn, can lead to higher job satisfaction and increase the likelihood that employees will remain with their current employer. Great news for employers, as they’re retaining potentially hard-to-replace skills, preventing operational disruption and saving on recruitment costs. 

 

Reducing environmental footprint

Environmental, Social, and Governance (ESG) policies and reporting are rising in importance as climate change concerns continue to grow. Companies can cut their carbon footprint by allowing employees to reduce travel to and from the office and other non-essential meetings.

 

As such, remote working policies can contribute to sustainability and ESG goals, boosting corporate reputation and making for a more desirable workplace. 

 

Talent without borders 

Remote work also enables companies to tap into a broader talent pool. Employers can hire individuals with the right skills from anywhere in the world, opening more opportunities to find the best people for the job. This is particularly beneficial in the context of a growing skills shortage across the finance and technology sectors.

 

But it’s not just the international aspect of remote work that widens the talent pool. The flexibility accommodates a wider range of employees, even those just down the road from their place of work. For instance, parents with young children can work during their children’s nursery hours or nap times. This also saves on childcare costs and helps mothers, in particular, remain in the workforce. 

 

The push for office working

Remote work and more flexible working hours mean that, in many cases, as long as the work gets done, the where and when become less relevant. Nevertheless, business leaders advocating for a return to the office also have valid points: 

 

Company culture. In-person interaction with colleagues builds relationships and fosters synergy, creativity, and lively discussions that are hard to replicate for employees based outside the office. There are also concerns that the camaraderie essential for a thriving company culture and career fulfilment may be eroded in a fully remote work environment.

 

In-person inspiration. There’s no denying the unique value of in-person collaboration in sparking inspiration, creativity, and lively discussions.  When finance teams are planning, budgeting, forecasting, and agreeing business plans, for example, it’s critical to have a naturally flowing conversation that isn’t stifled by bad connections or delayed audio — or held up by that one colleague who always joins their calls on mute and talks away without realising. 

 

Skill development. Learning from experienced colleagues is a priceless opportunity for skill development. While official training and feedback sessions contribute to this, a lot can also be learned through conversations and interactions within the office. New team members, and even experienced professionals, can pick up valuable insights and tips from just overhearing discussions between colleagues. This just can’t be replicated at home.

 

Finding a flexible solution

Of course, it’s impossible to always please everyone, but it is important to recognise that working requirements vary from person to person, and company to company. A flexible hybrid working policy can be a great middle-ground for those who enjoy working remotely and those pushing to return to the office. 

 

However, this approach requires the proper support and technology to maintain productivity and collaboration. To create and sustain successful hybrid work arrangements for finance teams, companies might consider providing access to cloud-based accounting platforms for easy collaboration on reports, data analysis, management, and financial compliance. 

 

Instant messaging applications like Skype and Slack can also play a crucial role in enabling seamless collaboration among remote and in-office employees, offering quick support and efficient communication. By investing in cloud-based applications and infrastructure — and reviewing HR processes — it’s possible to maintain a strong company culture even while employees are working remotely. 

 

Even simple things like making sure someone is keeping a central track of employee birthdays and giving a shoutout on weekly briefing calls to those celebrating can help keep remote working colleagues feeling close to each other and build stronger connections.

 

All these things will go a long way to making hybrid working a win-win for employees and employers and lay the groundwork for a possible future where flexible working as a day-one right may become enshrined in UK law. 

 

---

 

Hugh Scantlebury is CEO and Founder of Aqilla

 

Main image courtesy of iStockPhoto.com