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How could more people working from home (WFH) during the COVID-19 pandemic 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, with 44% growth over the last year and 91% over the last decade.
– Remote work attracts and retains more talent, with 75% of respondents citing flexible schedules and remote work as the 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 lead to 65% of people stating they are more productive when working from home.
Could the COVID-19 outbreak act as a catalyst for a digitised culture shift in your industry?
With research showing that WFH is a growing trend due to improved employee satisfaction, increased productivity and morale, the question is, will your company be outdated and less attractive once COVID-19 restrictions are lifted if you mandate a return to the office?
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, the culture of your business moving forward ought to adopt a more flexible working schedule to compete, as 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 candidate market?
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 biggest barrier to success with their hiring strategies. The figure is even higher for small- to medium-sized companies who have more niche or expansive role requirements. The second biggest barrier is not being able to compete with salaries offered by larger companies; however, this is where cultural, or non-monetary, benefits are being offered to offset a monetary disadvantage.
With more people in sales and commercial roles being forced to WFH than ever before, there are now more opportunities to market your brand and business. Typically, the most talented people are only available to talk about job opportunities in a confidential environment.
There’s scope to gain a competitive advantage in a number of ways. 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/).