Is work from home the future of accounting?

26 Dec Is work from home the future of accounting?

For an employer or an employee in the accounting industry, is working from home a more efficient workplace culture? With the advent of apps and automation tools supporting remote work, every accounting firm is now able to grow their practice with dispersed employees working from anywhere they like.

As many top organizations have heavily adopted this work-from-home culture, you may be wondering if going completely remote is feasible for your firm?

Here’s what you should consider:

THE PROS:

1. Compared to the boomers, Millennials and Gen Z want more ownership and autonomy at work and demand a better work-life balance. Being in the comfort of their homes, or even choosing to work from a beach resort, gives them the space they need to feel that they are not being micromanaged. This increases job satisfaction which inturn improves productivity. Top talent in these generations may choose to work for your organization over another simply because you provide the work-from-home perk. And so, attracting top talent and employee retention comes naturally to firms allowing this flexibility.

2. The pandemic has proven that there is no certainty for what may disrupt the future of the workplace. Organizations that can collaborate and operate digitally are adaptable and futuristic in fast paced changing environments.

3. Working from home creates cost savings for you and your employees. Your overhead costs are significantly reduced when, for e.g., you’re not occupying an office space and paying rent. Your employees no longer need to spend on commuting to work.

THE CONS:

While the advantages are many there are a few challenges you need to assess before deciding to create a remote organization.

1. The protection of proprietary information can be a challenge for team members working from different locations.

2. Your employees may even feel isolated and miss working on a desk surrounded by colleagues rather than on the dining table or solitary desk at home.

CONCLUSION:

Talk to your team and evaluate what works for you. Identify the goals you have for the culture you want to build at work and see which solution fits your organization’s needs. As an organization, if you decide that you would like to reap the benefits of remote work, make sure that you hire the right people that fit this model. Look for self-starters at work that do not need hand holding. An Outsourcing Partner can be a lucrative solution to growing your team remotely without the hassle of employee handling and with all the benefits of remote work.

CONTACT US when you’re ready to grow your accounting team.