Elon Musk recently reignited the conversation on the subject of working from home (WFH). In an article discussing the leaked email sent to Tesla employees this week, Musk did not mince his words on the repercussions of continuing to work from home. He wrote, “The office must be where your actual colleagues are located, not some remote pseudo-office.” If you don’t show up, we will assume you have resigned. ”
This email is causing ripples in the business world because it raises the question: Is it time to issue an order ending remote work?
Working from home was born out of necessity during the pandemic as a way to keep businesses afloat. Following its relative success, it was eventually adopted as the new work paradigm. Arguments can be made for its continued implementation, but the lingering question is whether it affects the bottom line and at what cost to the employees.
The bottom line:
Recent studies have shown that employees who have been working from home are more productive than their office-based colleagues. On average they gain up to 1.4 more days in productivity every month. The biggest contributing factor is the time saved on the daily commute, which employees say is 17 days’ worth of free time.
Working from home (WFH) means employees are not only afforded flexibility and freedom but also financial savings on travel costs. For instance, employees who would like to live in different parts of the country can benefit from the elimination of the commute, which could improve their quality of life by saving them money on mortgage payments.
Working from home also has psychological benefits, particularly after the rise in mental health challenges such as depression and anxiety during and after the pandemic. A worker has the freedom to take longer breaks during which he can take a stroll, call a friend, or even meditate. This in turn boosts their morale compared to office workers who have shorter routine breaks.
Additionally, an employee who does not have to worry about the daily commute, car repair, and maintenance costs or getting late to work, has more free time to spend with family. They can hit the gym, are less tired and stressed, and they also distanced from unhealthy workplaces and interactions, therefore staying engaged and productive. Companies, of course, win when their employees are healthier and happier.
For companies, having employees with WFH is highly beneficial. A lot of money is saved on office rent space and maintenance. In addition, companies benefit from hiring and retaining talent moving forward because relocation costs are eliminated, costs of training are reduced, and a wider range of skilled individuals is at the company’s disposal.
On the flip side, however, WFH can be problematic. For employees, the ability to maintain a healthy work-life balance can prove difficult. Commuting, for example, provides a clear demarcation between professional and personal lives for office-based employees. For those WFH, on the other hand, having the office at home also means that you will never leave work. Your life revolves around your job.
This lack of work-life separation that comes with working from home means that employees run the risk of reduced concentration and productivity due to procrastination, challenges in creating personal boundaries, and distractions from children, family, pets, neighbors, and even friends. WFH requires self-discipline and dedication to stick to a dedicated home office routine.
There is also the impact of WFH on mental health. Isolation and loneliness affect those working from home because they may only be limited to social interaction and support. Additionally, less facetime and online communications can lead to misunderstandings and misinterpretations, which in turn increase stress levels and negatively impact productivity.
For the company, on the other hand, monitoring the performance of employees can become challenging and tedious because managers can no longer keep tabs across the office or have direct interaction and communication.
To Sum It Up:
Time and money are the two most valuable commodities in the world, particularly in business. And both sides stand to benefit. However, WFH can be a more productive environment with the implementation of a delicate balance. The paradigm is not changing, as more companies are turning to remote and hybrid work solutions.
So, the richest man in the world might be wrong on this one. For now.