How could more people Working From Home (WFH) during COVID-19 affect the culture and value proposition of your business?
First of all, let’s look at what WFH means for your employees and business.
- Working from home is already a fast-growing trend 44% growth over last years and 91% over the last decade.
- Remote work attracts and retains more talent, with 75% of respondents cited flexible schedules and remote work as most effective non-monetary employee retention driver.
- Remote and flexible work is good for business, with 90% of employees saying it would increase morale and 80% saying they are less stressed.
- Fewer distractions, less disruption, zero commute, minimal office politics and a more personalised work environment leads to 65% of people stating they are more productive when working from home.
Could the COVID 19 outbreak be act a catalyst for a digitised culture shift in your industry?
With research showing that WFH is a growing trend due to the benefits for employee satisfaction, increased productivity and morale; the question is, will your company be outdated and less attractive after forced COVID 19 precautions if things go back to normal?
It’s reasonable to suggest that once employees get a taste for the benefits of WFH and your business becomes more profitable as a result, that the culture of your business moving forward ought to adopt a more flexible working schedule to compete; there’s a clear competitive advantage to be had here.
The reality is that if you do not adapt, your workforce could be more inclined to explore opportunities with your competitors who do promote a flexible working culture and can provide the best technology. Those at the forefront of a new, exciting and rewarding culture will naturally be more attractive the most talented people in your industry.
How is COVID 19 WFH affecting your ability to access the passive
Whilst we’re in the early stages of the COVID 19 outbreak, it’s understandable that businesses are having to improvise to keep things running, supply chains have been affected and markets are suffering which can lead to uncertainty and caution with your hiring plans for 2020.
42% of all hiring managers in our network have stated that being able to engage with the most talented people for their business is the #1 barrier to success with their hiring strategies. This figure inflates for small to medium sized companies whom have more niche or expansive role requirements. #2 is being able to compete with salaries offered by the ‘big’ companies, however, this is where cultural, or non-monetary, gains are being made to offset a monetary disadvantage.
With more people in Sales and Commercial roles being forced to WFH than ever, there are more opportunities to market your brand and business than ever before. Typically, the most talented people are only available to talk in a confidential environment.
There’s scope to gain a competitive advantage in a number of ways and here’s how we could help:
- Gain more clarity than ever on your desired local and international passive candidate pools.
- Keep the wheels turning with your hiring plans by staying active in passive candidate pools.
- Champion your company’s value proposition in a time of uncertainty.
- Market yourselves as a strong organisation with a flexible working culture.
Essentially, if you remain proactive with your hiring strategy for 2020 and beyond, you will be in the strongest position to attract the very
best people to your business.
(Sources - https://www.merchantsavvy.co.uk/remote-working-statistics/ , https://www.smallbizgenius.net/by-the-numbers/remote-work-statistics/#gref, https://www.flexjobs.com/blog/post/remote-work-statistics/).