Trusting The Remote Workforce

Updated on

The COVID pandemic brought with it a work-from-home revolution that many are excited about. In the U.S., 42% of the labor force worked from home full time in 2021 with 69% of employees being remote during COVID’s peak. With many businesses and companies having experienced the potential of remote work, more than half of American employees want to continue working from home post-COVID.

Get The Full Walter Schloss Series in PDF

Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

Q3 2021 hedge fund letters, conferences and more

Trusting The Remote Workforce

Employees have acknowledged several benefits from working from home that were able to greatly enhance their work, such as having enough space to work productively and having less interruptions. 64% of employees report feeling motivated to do their work while at home and 80% say they are still able to meet project deadlines in a timely manner. There have also been clear benefits of working from home for employee wellbeing with 57% stating an increase in job satisfaction while turnover rates have decreased by 50%. Employers have garnered benefits as well from money saved through remote work. For example, working remotely allows Sun Microsystems to save $68 million per year and $700 billion in total national savings in a single year, which in turn allows employees to save more in personal finances.

Although both employees and employers both experience benefits from working from home, more than 41% of employers doubt their employees’ work ethic. The growing mistrust stems from factors like changing levels of trust since the start of the pandemic, doubts in the leadership pipelines, and discomfort in communicating with employees. This has resulted in the rise of micromanagement — or an over-attention to detail — that has made one in five employees perceive it as the most stressful aspect of working from home. Micromanaging has also made employees feel less trusted and valued.

Excessive Micromanagement

Employers have been affected by micromanagement as well. Employers have attributed a 50% drop in productivity and a 39% higher employee turnover rate to excessive micromanagement, a result of which is an increase in annual salary spent to replace employees.

Even though employers have found it harder to trust their employees while working from home, there are ways to rebuild that trust. One solution involves over communicating, or ensuring everyone knows how and when to proceed with their work. Another solution is to encourage self-care by motivating employees to be honest about their needs while at work. AI programs can also enhance working from home without micromanagement by preparing timesheets, planning work schedules, and providing workforce management on the go.

By trusting and cooperating with remote employees, employers and businesses can optimize their performance while continuing to work from home.

 

Remote Workforce

Infographic Source: TrackTime24.com