Category Archives: work from home

Working From Home Will Establish a Different Kind of Business Landscape.

home working
working from home

London, Frankfurt, Paris, New York,  each of these huge global cities are related in that they are major nerve centres of creativity. These cities started to buzz for a reason: vital business meetings of national importance were taking place, Business owners and idea makers were putting their heads together to invent exciting new technologies, and go-getters met over flaming sambuca’s and expresso coffees to discuss startup ideas.  Now we all seem to be working from home in social isolation.

The physical setting really did matter; the bricks and mortar of a downtown office block and the in-person interaction that comes with that. Yet, in a step toward making distant work a lasting future, Facebook and Google, for example, told their staffs that they can work from home until July 2021. We know that the nature of jobs has changed into ‘digital by default’ so this is the result we might reasonably expect.

Indeed, a study by Google on distance workers found “no difference in the effectiveness, productivity ratings or promotions for individuals and teams whose work requires teamwork with coworkers around the world versus ‘Googlers’ who spend the majority of their daily collaborating with colleagues in the same office.”.

Nevertheless, some people might justifiably claim that staff working from home could potentially hinder product development and innovation. Tyler Cowen writing in Bloomberg said that “Even as tech companies grow more essential, the geographic distribution of company activity will also make them less unique. They’ll start to resemble a typical cross-section of the workforce, with all of the routines and bureaucracy that most other companies experience. They’ll have less fire in the belly to disrupt and overturn previous institutions.”

This is not a completely new trend. IBM, the pioneer of teleworking, eliminated nearly all of its office work years ago, and then released a report entitled “Challenging the modern myths of remote working, the evidence for the upside of teleworking.” Back in 2014, they boasted about their innovative modern business model with over 45 per cent of their employees working from home. But one also has to consider that WFH on a large scale can destroy the innovation hubs that have popped up in places like silicon valley or Shoreditch in East London.

silicon valley

Offices have been discarded for Discord Servers, Zoom, Slack Channels and the like. Over the last few months, multiple news sources have confirmed that people are forsaking from cities towards urban and rural areas. Could this Covid-19 pandemic really decentralize tech opportunities out of just a few hotspots, such as London and New York?.

These developments have huge ramifications for the global innovation landscape as a whole.  Here at hold Everything we see the future being mapped out before our eyes.  Large office suites are being rationalised into more compact meeting areas with employees working out from their homes.  The sprawling office of the past has turned into an agile set of services, call answering, mail forwarding and meeting rooms by the hour.

Nevertheless, to say that working from home will mark the end of innovation is an exaggeration. As per Raconteur and Professor Bernd Irlenbusch, who co-led a study titled Innovation and communication media in virtual teams: an experimental study, by the University of Cologne and Leibniz University Hannover, “Previous research has shown that creative performance is significantly lower when there is no face-to-face communication. However, the current lockdown has fostered the adoption of new technologies to conduct collaborative tasks when team members work from home. Video conferencing can mitigate the gap in creative performance.”.

virtual work

We will work remotely but human contact is part of our human makeup and we will need to set up new routines with augmented reality (such as social online meetings) that can be put in place to foster collaboration and more human-like meetings instead of solely relying on cold, unemotional Zoom meetings.

The most important takeaway that emerges is that working from home means that a new species of entrepreneur has emerged, and those who adapt quickest will be best-suited moving forward.  Hold Everything will be there to help with our fully serviced, totally agile, virtual office.

 

Unexpected Advantages of Remote Working.

remote working

 

Over the last few months business working models have changed dramatically.  it is a subject we have discussed several times here on our blog. Tens of thousands of workers have been forced into remote working which has come, of course, as something of a surprise.

The good news is that this forced move enabled more businesses to see the feasibility of a remote team. But what many may not know is there are many other advantages to having a virtual team.

Your Costs are Reduced

You actually get more for your money when hiring workers for remote working.   Very often, those seeking remote work put a high value on their freedom and flexibility over having a central office, and may be willing to work for less pay than a traditional employee.

Many small businesses have discovered the advantages of hiring remote employees and freelancers.  Employees can legally shed many of the obligatory benefits associated with regular staff.  If you start employing contractors from Upwork or People per hour you are not recruiting a unionised work force.   You can scale up or scale down as circumstances demand and put it all down to the changes brought about by Coronavirus.  This is a good moment to explore the remote working model.

Typically many of the freelance workers you hire will not be subject to UK or EU tax regulations so you will avoid much of the paperwork associated with standard UK office procedures.

In addition to the cost-savings, Forbes.com  reports that 77% of those who work from home get more done in fewer hours thanks to fewer distractions like meetings, conversations, and noisy coworkers. In addition, Highfive.com reports that remote workers accomplished 30% more work in less time. It could be argued that increased productivity is due in part that many realise that they will have more free time to do the things they love if they get their work done in a more productive manner.

You Can Pinpoint the skills Required.

Instead of hiring one person to do a variety of jobs, having a remote team allows you to hire the right person with the right skills for the right job. Many virtual professionals today work for more than one person and therefore get very specialised in a set of skills. Candidates do not have to be ‘allrounders’ you can choose exactly the right person for the job in hand.  If you are working on a web development for example and you want it done on an Elementor structure you can choose a team who are tightly qualified in that one programming skill rather than a generalist who might have only used Elementor occasionally.  They would know all the little tricks around the platform and consequently save  hours of  valuable time which you are paying for.

remote working

Keep Good People

With a remote team, you can attract and retain quality professionals. In a recent study, 95% of employers reported that working remotely has had a high impact on their employee retention rate.

For moms, working from home provides the ability to have better work / life balance. For instance, if a child is sick, a mom can continue to work while monitoring her child. In the same way, she can take a break to go have lunch with her child or spouse and make up the time that afternoon or evening if needed.

Greater Flexibility

If your remote team members are independent contractors, you have the freedom to end the contract if they are no longer needed. There are no firing or unemployment penalties involved in this type of remote working. In addition, if you decide the person is not a good fit, you can more easily find someone who is.

More Reasons to Consider a Remote Team

A remote team also provides additional benefits to your business and the environment.

Having the ability to hire the right person for the right job and pay a fair rate enables small businesses to grow faster than ever before. By combining that with all these additional benefits, establishing a virtual team for remote working becomes a real advantage for many small businesses.

Another big advantage in using a flexible freelance team is that most of the recruitment platforms (Upwork/people per Hour/Fiverr) have a well regulated review and feedback system in place so that it is in the interest of a freelancer to perform to their highest level to obtain good ratings on their specific recruitment platform and guarantee recurring work and higher exposure on the platform.    In some specialist skill sets such as Google Adwords, you can buy freelance time from a specialist working for some of the largest corporations who will do your ad campaigns as a ‘side hustle’ and you get the weight of experience that you could not afford or need on a full time basis.

At Hold Everything we are experts at providing many of the structures for remote work including professional phone answering and mail handling.  Your staff may be scattered around the globe but you know you have a fixed point in a prestigious office in central London.