One of the most noticeable trends that have been brought about by the COVID-19 pandemic is the need for businesses to embrace decentralization. This includes allowing workers to work from home remotely. Depending on the kind of business you run, going fully remote could have some incredible advantages, but it is important to consider the potential downsides and losses a fully remote approach could bring about.
The Pros
Investing in making your business remote will significantly cut on operational costs, especially when it comes to renting property. On average, the cost of renting a space accounts for a large portion of every business’s expenses. Secondly, turning your business into a remote company will allow you to boost productivity. Employees who work from home are generally better motivated and are thus highly productive.
Taking your business in the remote direction will also change the workplace dynamics as far as hiring and human resource management is concerned. In most cases, employees who work for remote businesses are known to be technologically competent. Generally, this is a good thing as it leads to employee professional development, and it can demonstrate an individual’s flexibility, adaptability, and ability to learn quickly.
The Cons
Remote businesses often have employees who are less focused on the concept of teamwork. Teamwork is highly essential in the long-term survival and success of your company. Having your workers meet only through video chats poses a challenge to them as they miss the team camaraderie. Running a remote business successfully may pose quite a challenge as far as the administration is concerned. Unless you are lucky to have highly dedicated employees who can work with minimal supervision, you may have to deal with a few challenges of managing workers remotely.
Also, businesses that do not have a physical location or office often suffer a loss of credibility. Running a business entirely online introduces a disconnect between your company and its customers. This is because the only way you can connect with customers is through online chats or phone calls. Should you be considering taking your business online, another potential challenge you may face is the limitation in terms of the scope of operationalizing this idea. In particular, businesses that render services cannot afford to run entirely remotely as they would otherwise disconnect with their clients.
In 2020, many businesses had to rapidly adapt to a remote model in order to protect their employees. During this time, some business owners may have found that this model suits their needs, their work, and their expectations. In that case, it is important to discuss this idea with other members of the team to gain more insight and address potential problems before they arise. Going fully remote certainly have its benefits, and choosing to abandon the traditional business model now could lead to greater success in the future.