Time to Leave Your Business Rental Lease – Or Not?

Employees are collectively one of an organisation’s most valuable assets, and if they’re motivated, your company is more likely to achieve its best possible results. It’s therefore good sense for management to check in periodically on what makes their employees happy – besides salary increases, of course.

According to the latest Cisco Global Hybrid Work Study, skilled South Africans prefer to work remotely at least some of the time, with almost 95 percent of the local respondents (from a global poll of 28,000 participants) wanting to work either in a hybrid or fully remote working model.

It therefore makes good sense to consider the possible benefits of remote or hybrid working arrangements, to both the organisation as well as the workforce. One of the employer advantages could include needing less office space, thereby freeing up significant rental or maintenance costs.

Remote But Not Removed

Employees who enjoy working remotely and are enabled to do so with the correct tools and infrastructure (a decent laptop and a fast and reliable internet connection are key) value a potentially better work-life balance. This includes not having to spend hours commuting every week, and so gaining back time while also reducing stress.

Productivity has been shown to spike because of reasons such as people getting more sleep, having fewer distractions from colleagues, and experiencing improved morale overall. With lengthy commutes out of the equation, attendance should also improve.

Video conferencing platforms such as Microsoft Teams allow geographically dispersed colleagues people to have virtual meetings, conduct presentations, and foster face-to-face interactions. This also allows organisations of all sizes to hire in top employees from a global talent pool, without being bound by location limitations (providing that differences in time zones are managed efficiently).

However, this doesn’t necessarily mean that your organisation should immediately terminate its rental lease, or sell a corporate property investment at the first available opportunity – not everything about remote working is advantageous.

Isolation and Other Issues

Going to the office regularly can bring structure and routine to people’s lives, while in contrast, working remotely can be isolating and lonely for some. Managers might worry that their team members are not working as efficiently as they would be in the office, and conversely, some employees can struggle without face-to-face leadership input.

It can also be more challenging for remote employees to find and locate all the information they need. Additionally, remote working can bring decreased collaboration, with fewer opportunities for employees to talk to each other during breaks, thereby cementing workplace friendships and cooperation.

Enter the ‘middle ground’.

Saying ‘Hi’ to Hybrid

A hybrid workplace model mixes in-office and remote work to offer employees flexibility and support. In a hybrid workplace, employees typically enjoy more autonomy and better work-life balance – and are more engaged as a result. Employers benefit by building a more productive and stable workforce, with people more easily able to engage and learn from each other.

Unified digital workplace platforms make it easier for employees to access all their work-related data and applications, while also assisting with effective communications. For example, Microsoft Teams facilitates effective communications among skilled colleagues, no matter where they are based. As a Microsoft Operator Connect partner, Vox can assist your employees to make and receive phone calls directly within Teams, for both landline and mobile phones.

Another option is to have your employees using Vobi, from Vox – our mobile softphone app, that gives users the ability make and receive voice and video calls, including in app texting from their mobile phones using the Vox network. Designed for both home users and businesses, Vobi allows users to benefit from reduced call rates on video and voice calls across all networks. Vobi enables you to route your home phone and/or office phone calls to your mobile phone, ensuring you are always available.

Getting Real with Real Estate Issues

For employers, renting office space – or owning and maintaining it – can be very costly. Remote working can lower costs by reducing the amount of office equipment and space required, potentially allowing your organisation to move into smaller premises – or even forego a physical space entirely.

Instead, all employees could work remotely, and your company might simply hire meeting rooms or co-working space as and when needed.

If an office premises is owned by a company, selling it outright could put money back into the organisation.

Where to From Here?

We believe the future of work for skilled employees will continue to embrace both hybrid models and fully remote opportunities, with these options being driven by modern technology, increased flexibility, cost savings, a desire for an improved work-life balance, and being able to hire people from a global talent pool.

The Covid-19 pandemic first turned people’s homes into their offices. Now, the aftermath can drive a movement in which unused offices can be turned into homes. Around the world, including in South Africa, property developers are looking at ways to turn empty office buildings into housing solutions. While not every empty office building is suitable for conversion, it offers interesting possibilities.

And so, if your organisation is going to embrace a fully or partially remote solution, do you have a building to sell? It could be an added bonus.