Saw this on my linkedin & completely agree with it. The way we work is changing, evolving. That can only be a good thing for both employers and employees.
I did some research about 2 years ago, that I've posted below that gives an interesting insight into the image:
A survey by Talent International discovered that before Covid-19, 64% of the workforce were setup to work from home, and now over 90% are. That gives business an opportunity going forward, as 76% of businesses also said that they would consider home working on an ongoing basis once this crisis is over.
Suddenly there are cost savings to be had in the reduction of physical office space required, as well as the associated overheads and expenses that having a physically co-located office team brings.
There are so many opportunities for a business at this time, and as we approach the new 'normal' NOW is the time to start that thinking, to create a plan, and as soon as possible, start getting it in place.
There are opportunities to review how processes work - that may mean that in this 'non-productive' time, reviews can take place to see if there is a better way to achieve tasks. The biggest reason that things are never made more efficient is because people 'don't have the time' - well guess what? Now you do! - if you stop hanging about.
Employees are understanding of change at the moment, and as business owners or influencers it is the right time to take the opportunity to review how their businesses work, what are essential processes and what are not 'value-add' items.
There will be a vast number of businesses that do not make it through this crisis - because they will go back to doing what they always did. Those businesses are the ones that will lose money, and ultimately go to the wall. The businesses that will survive are the ones that adapt. The ones that change the way that they work, and ask the difficult questions now.
So Lets put this into Pound Notes:
An employee needs around 75-100sq ft to operate in an office. Office space to rent costs between £20 and £40 per square foot per annum - just for the space. So without salary costs every employee is costing YOUR business in space alone £1,500 a year. Add parking spaces, heating, lighting, broadband, a desk, chair and you are suddenly way over the £2,000 a year mark. If your employee now works from home, then the government allows them to claim £6 per week in tax free expenses from you to cover extra costs. So allowing your employee to work from home no longer costs you £2000+. It now costs you £312 (52x£6). A saving of over £1600 a year!!!
Finding efficiencies in processes is also another major way that businesses can navigate through the current crisis.
For example, finding a saving of 50p per product on something that you make 10,000 of each year can save you £5000. Its worth a thought isn't it?
For larger companies, it could be that the Governance structure isn't in place so there are too many meetings and sign-offs, it could be that the Operating Model is failing with duplication or things not being done in a standard way, or it could be that there are opportunities to increase sales via other channels. It is an opportunity to be more 'lean' and 'agile' in the way that the company works.
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