With the coronavirus crisis having driven employees out of their workplaces and into their homes, questions surrounding productivity have continued to be at the forefront of every manager’s mind. So, is working from home more productive?
Truthfully, there isn’t a right answer here as productivity can increase or decrease depending on working circumstances. But, with the proper processes, technology, and practices in place, working from home and productivity isn’t something businesses need to worry about.
If your business is trying to reduce costs and streamline your operations, taking advantage of a remote bookkeeper is a great place to start. To discover how Time Wise VA can help your business better organise its finances and keep track of your expenses, please contact us now.
Working from home and productivity: the facts
Funnily enough, the UK has had a longstanding problem with productivity, well before the advent of coronavirus. This was highlighted in the November 2017 UK Budget, with Chancellor Phillip Hammond increasing the national productivity fund to £31 billion in an effort to improve the UK workforce’s productivity.
A Rand report shows that a major player in low productivity is lack of sleep, with people sleeping under six hours a night being 2.4% less productive than those who get between seven and nine hours. It sounds small, but cumulatively, this adds up to a lot. Lack of sleep can cause illness, leading to absenteeism as well as presenteeism (employees work in the office but not to their full potential). Obviously, working from home allows people more time to sleep with the absence of a daily commute.
In 2013, a Bloom study found that workers at a Chinese company were notably more productive when working from home for four days a week. Now, larger companies, such as Twitter, have announced plans to make working from home a permanent option for employees, even after coronavirus. So, is working from home more productive? Well, given the evidence, there is certainly some merit to the argument.
High productivity doesn’t happen without help
Working from home and productivity rises rely on a number of factors – it doesn’t simply happen without first fostering an environment for it to do so. It’s vital that employees and managers take responsibility of the working day by putting the right processes in place to ensure productivity stays high.Employees
As we’ve mentioned, an employee’s well-being is directly linked to their productivity. So, for employees it’s essential that they focus on keeping themselves in a positive and healthy state of mind. Getting dressed in the morning, setting dedicated time for working, investing in ergonomic furniture, creating a realistic day-to-day schedule, and getting some physical exercise all play a massive role in working from home and productivity.Managers
For managers, there are different areas to focus on in order to keep remote employees’ productivity high. It’s vital that you continue to keep communication as frequent as is normal in the office. Help to keep your employees focused through email, chat, and video calls. Additionally, you will have to ensure that the very best and most efficient technology is available to your employees – they can’t excel without the right technology at their disposal.
We’ve actually gone into this is in further detail on our blog. To find out more about working from home and productivity best practices, take a look at our other articles.
At Time Wise VA, we help make things simpler
It’s not always easy to stay on top of your bookkeeping duties during the busier moments in the year or during crisis events like coronavirus. At Time Wise VA, we work with Xero and Hubdoc to help businesses keep better track of their finances throughout the tax year.
So, for professional and reliable assistance with anything bookkeeping related, please don’t hesitate to contact us now to learn how we can help your business.