Business Report Assignment -
Topic - Cost Benefit Analysis of Allowing Staff to Work from Home
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1. EXECUTIVE SUMMARY:
In today's world, the rate of competition is very high in between the companies within the same sector along with companies in the same industry. Thus, the companies needs to plan every aspect of their activities well so that they can achieve a situation where they are focusing into maximisation of profit and minimisation of cost. The workplace condition is moving towards flexibility. Allowing flexible time hours and flexibility to work through remote location is a growing trend to avoid high rate of absence of employees. The paper herein deals with the analysis of cost related aspects wherein we can assess that whether allowing staffs and employees to work from home is beneficial from cost perspective. The benefits of working from home is clearly visible with respect of employees point of view, but the advantages from the perspective of employer is not always many. The employers allowing the employees to work from home depends upon many factors, the major one being the increase in efficiency and work responsibility of the employees thereby contributing towards overall growth of the company.
The spread of allowing employees to work from home is increasing these days since it allows and helps in exploration of new opportunities of the style of working of business. The fact that home working brings additional responsibilities to the employer and employee along with opportunities and benefits. In case of the company AKC Architectural Firm which is a medium sized firm is employee oriented where employees of the company are married having young children because of which the rate of staff absenteeism is very high. The company AKC needs to analyse many factors before allowing its staff to work from home. The results of the analysis if turns out to be positive, then the company may think of allowing employees to work from home. The many kinds of investigations includes analysis of the software access to allow employees to work from home, purchase of additional computers, analysis of the cost savings of the firm, training in relation to working from home, etc. All this questions when answered and analysis of the positivity of the same will help the company decide on the fact that whether it should allow its employees to work from home or else the company will continue to work in the pattern in which it is currently operating its business functions.
3. ADVANTAGES AND DISADVANTAGES OF WORKING FROM HOME:
There are many advantages and disadvantages of allowing the employees to work from home. With the increase in the number of employees which are working at home there are number of benefits which are listed below:
- There increases the number of employee retention since the employees are able to fulfil their parents and child responsibilities along with work, thereby enhancing their work life balance.
- The disabled people can also show their talent in work when they are allowed to work from home
- Since the commuting time is less along with less interruptions, there is increase in the productivity
- There is increase in the staff motivation since the levels of stress and sickness among staff decreases.
- The employer can save on office space cost and other facilities provided to staff in the office area.
- The sales staff are allocated according to their locations to the nearest client thereby spreading Convenience.
- The life balance of the employees helps in the enhancement of their health.
We can observe that the advantages listed above is majorly from the point of view of the employee and that from the employer perspective is limited.
There are many disadvantage of allowing employee to work from home that are listed below:
- There arises difficulty in monitoring performance of the home workers and managing them while they are working from home.
- The employees skill and work quality gets deteriorated and shows issue in performance when they work from home
- The cost of training and software being provided to the employees allowing them to work from home costs high.
- The staff development and upgrading their skills becomes difficult
- There can be risk of security of the information since they are open at many addresses
- There increases the cost of telecommunication and broadband since the employees are required to be equipped with the same
- There arises many a times problem of communication while the employees work from home
- Maintenance of team spirit is very difficult since employees are working from different locations.
- The most important point that is worth noting is the fact that working from home is not suitable for all business types and the same needs to be analysed from business to business.
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A shift from office to work from home does not implies the fact that the employees are only required to work from home. The best way to attain the maximum advantage is splitting time between home and the workplace which turns out to be the most productive solution. The home worker are then assigned to attend meetings so that they are fully involved and informed about the business functioning.
4. COST BENEFIT ANALYSIS OF ALLOWING THE STAFF TO WORK FROM HOME:
The company AKC while assessing the fact that allowing their staff to work from home will turn out to be beneficial from the cost perspective and from the perspective of their employees. The following are the observations for the same:
- The firm needs to analyse that the software being used by it for its business functioning can be upgraded to allow the staffs to work from home or it needs a completely new software. This is because if the existing software can be used that will be more effective from the cost perspective since the staffs are already friendly with the same.
- The firm will have to purchase laptops and software for employee so as to enable them to work from home. Again, the same needs to be analysed with the cost of the staff working from office and then the comparison shall be made for having feasibility.
- This would result in many cost savings for the firm since the firm will have increase in work because of avoidance of absenteeism of the employees and increase in efficiency.
- The employees of the company are required to be properly trained before allowing them to work from home because then only the employees will have set of rules to be followed.
- The standard working hour in a week is 38 hours. Allowing the staff to completely operate from home have many issues as listed above. Therefore, they should be allowed to work 26 hours from home and the balance hours of working should be served by them from office.
- There should be proper system that enables the staff from abusing the flexible work system which are calling them for meetings at office, having proper communications, etc.
The above are just few points that are major in nature required to be assessed before allowing the staff with the flexible working system. However, the firm needs to have additional investigation being conducted for the smooth functioning of the same.
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The flexible work system i.e. a system where the employer allows the employee to work from home is having popularity in today's work culture. However, there are many drawbacks of the same, which the employer needs to analyse and fix. The advantages of flexible working hours i.e. work from home is beneficial to employee from all the perspective like they will have less wastage of time commuting, they will have increase in productivity, they will be happier, etc. From the employer perspective, the advantages are less but still in cases where there is proper controls being placed, the employer can even gain out of allowing staffs to work from home. The employer needs to analyse all the possibilities of getting benefited from giving option of allowing work from home.
The fact that work from home is benefiting many employees across the organization and are boosting the confidence cannot be denied. The organization need to have proper control in place so that there can be identified any loops and that it is fixed on time. The employer need to allot some fixed hours of working which the employee have to serve working from office. This brings in checks and help in mitigating communication problem.
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