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Business
Embracing the ‘new normal’ in business
By David Mazzucchi, Senior Consultant, EY
There has been a lot written about the ‘new normal’ since the severe, but necessary, restrictions caused by COVID-19. Too often, these discussions generalise and lack any tangible connection to the reality of operating a small or medium-sized business and the challenges that they are facing. It is not always the case that a business can simply shift to a remote working environment, but we must face the reality that those who can will be able to continue working, even in future lockdown scenarios. So what does this new normal entail for the employee and the business, given that any changes could present opportunities for employees, management and the business itself?
Remote working
Primary amongst these has arguably been the assertion that everyone is now going to want to work from home. On paper this might look like a positive shift but the practicalities of this are less encouraging. In fact, the problem here is that working from home is a solution to something and should not be the starting point for any re-organisation. Rather than assume that your team wants to leave the office permanently, one should start by assessing the benefits to your business before checking what appetite there is for this amongst employees.
Research by Prodoscore in the USA in May this year, widely quoted by the likes of Forbes and Businesswire, shows a year on year increase in productivity of those working at home in excess of 45%. Drill down further and CRM activity saw a lift of 176%. This means doing more of what businesses needs
to thrive. If the goal is to do more to increase business effectiveness, then one solution could be the re-thinking of the office model. This does not mean downsizing the office space and sending home your teams with a laptop under their arms, although this in itself can offer cost reductions. Rather it suggests focusing on the objective; identifying where working from home can deliver on these productivity increases and where retaining others in the office makes more sense.
Combine this with a conversation between you and your people. This means planning for what working at home will actually look like, which could include hybrid models where a proportion of the working week is at home and the other in the office.
Employment and tax laws Remote working means the potential to look further afield for recruitment, accessing new pools of talent for specific and often niche skills. Many companies may no longer feel they have to stay within their geographical constraints when recruiting for a specific role but instead, employers could consider broadening their recruitment process for specialists who do not necessarily have to be working in the office. There are key points to keep in mind including employment and tax
laws, however with the right support and advice, these waters are entirely navigable and, with careful integration of remote workers, the integrity of the business culture can be maintained.
A key consideration prior to COVID-19 has been staff wellness. The objective has always been to make this mean something substantive and to involve staff in developing programmes that meet their needs. The period of lockdown has brought this back to
the fore because of the uncertainty of the current working climate.
Healthier staff
As far back as 2016, a report from the Economist Intelligence Unit found evidence that ‘wellness programmes align employer and employee goals more closely. They increase employee engagement with the company’s mission and goals.’ This means that businesses not only benefit from healthier staff who will take less time off work through illness, but also makes
for more active and engaged team members. Thinking about health as a priority in business planning can have an impact on the bottom line as well as support a stronger company.
Remote working can be effective if planned properly. A careful assessment of business, but also staff needs, is essential if the most can be made of this change. When both are flexible and perhaps, able to compromise at times, the benefits will be tangible.
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