While the traditional office setting may work for some, an increasing number of accountants and accounting firms find that remote working offers several advantages following the aftermath of the COVID-19 pandemic, and here are some of them:
Access to a Global Talent Pool
As part of their continued progression abroad, accountants can seek to take part in finding remote CPD courses for accountants. This means that they can take part in activities such as online training courses and workshops to help aid their professional development to gain new skills and stay abreast of new industry updates in the accountancy industry.
Instead of just being limited to hiring local accountants, companies can expand their recruitment process globally and hire the best people from around the world. Hiring different people from around the world can mean that new people bring new qualities, experiences, and ideas to the team.
Hiring remote talent globally is something that is occurring frequently by accountancy employers. Survey findings have revealed that over 1,000 respondents who worked in accounting and finance now offer a form of hybrid working. 79% said that they do, of which 29% provide complete job flexibility, meaning that employees can come to the office when they want.
Additionally, 21% of survey respondents declared they would look to fully hire remote talent over the next year, especially since the recruitment war for hiring the best talent is becoming extremely competitive.
There are a few key ways in which remote working can lead to cost savings, both for the employer and the employee. For employers, one of the most significant cost savings is in rent. If employees are working remotely, there is no need for office space. This can be a significant saving for businesses, particularly in high-rent areas.
Additionally, there is no need to purchase office furniture or equipment when employees are working remotely. For employees, there are also cost savings associated with remote working. One of the most significant is commuting costs.
When working remotely, there is no need to commute to and from an office, which can save a significant amount of money on things like gas and public transportation. Remote working can lead to cost savings in commuting costs such as gas, parking, and train fares.
Childcare costs can also be expensive, especially if someone needs to use a professional service. Working remotely can eliminate these costs, which can be a significant saving for employees.
Flexibility in Professional Interactions and Improved Productivity
Forbes estimates remote workers alone can be 35–40% more productive, have 40% fewer mistakes, and reduce absenteeism by 41%.
With remote working, accountants can have simple conversions with others via video conferencing regarding catching up on progress and providing status updates about assignments. With the arrangement of video conference calls, people can have a meeting at a specific time that suits everyone’s needs, regardless of where they are in the world.
By working remotely, accountants may be to avoid distractions they may otherwise encounter at the office and relish the job flexibility of being able to work the hours they want and maintain a better work-life balance.
Overall, there are many advantages for both businesses and employees when it comes to remote working. For businesses, some of the main advantages include cost savings and access to a global talent pool.
For accountants and other finance staff, the major advantages include increased productivity and flexibility in professional interactions.
While there are some challenges that need to be considered when implementing remote working, such as ensuring data security and managing employee expectations, the advantages can far outweigh the disadvantages.