Half of mid-sized companies plan to repurpose their workplace
After the last year of lockdown highlighted various benefits of working from home, many midsize businesses are now planning to reassess the way they use office space. However, adapting to long-term remote working is not without its challenges, according to a new study of companies in the UK.
One of the main concerns of many bosses was that productivity would decrease as it would have a less direct impact on their workforce. Fast forward a year and the majority of companies actually saw big productivity gains. Meanwhile, the prospect of downsizing office space was increasingly viewed as a major source of income by companies whose incomes had come under pressure during the crisis.
After more than 12 months of hiatus and adjustment, a new study by Grant Thornton found that only 5% of medium-sized businesses in the UK believe that a return to full-time office work is most effective for their employees after the pandemic. When surveying more than 600 companies, the consultancy found that 44% of the companies surveyed believe that a shift to more remote working would be most effective instead.
Of those in favor of remote working, 37% felt that a blended approach with more time working remotely than an office was best for their company, while another 7% felt that full-time remote working was best for them is. At the same time, a quarter said that an even division between office and remote work works best for their employees.
While midsize businesses seek to balance their books and improve their bottom line, this provides a crucial lever. Due to lower demand for office space, 51% told Grant Thornton that their office or workspace needs to be relocated now – which may allow them to reduce rental expenses in the future.
Dave Munton, Head of UK Markets and Clients at Grant Thornton UK, commented, “Companies and their employees have had to continually adapt the way they work over the past twelve months, and many of the changes are likely to stay that way, to some extent when we start, a“ more normal one “Resuming life … The discussion must now focus on how companies support this development and ensure that they adapt effectively, as each person’s professional role and personal working style are different. There will be no one-size-fits-all approach. “
To that end, Grant Thornton announced that the changes will be more complicated than just drawing a line in the sand. Among the 80% of businesses that said they saw an increase in home working in the last year, many had to deal with a number of complex issues – concerns that are likely to become even more pronounced in the long run.
Above all, almost half of all bosses said it was difficult to manage the work of more junior employees. Meanwhile, 47% said the delivery of training is now a key concern. Loss of culture – with teams spending less time together – and a decrease in time spent on clients were the next items on the agenda. However, the fifth priority is what arguably matters most to workers and businesses.
Almost four out of ten companies stated that the psychological well-being of employees was a key concern when working remotely. The isolation of many workers during the lockdown, coupled with job security and health concerns, meant the number of employees reporting mental illness problems rose sharply over the past year. From both an ethical and a business perspective, companies need to ensure that adequate support mechanisms are put in place to remedy this if they intend to maintain remote working over the long term.
Munton concluded, “The discussion now needs to focus on how companies support this development and ensure that they adapt effectively, as each person’s professional role and personal style of work are different. There will be no one-size-fits-all approach … This includes understanding how their work or office space may need to be re-used, how their welfare and employment policies need to be adjusted to better support changing workforce expectations and how to use them most effectively provide opportunities for development and learning in the workplace and how technology can be used more effectively to enable new and more diverse ways of working. “
