One of the big questions many CEOs have today is whether remote work will ultimately benefit their companies or lead to an erosion of workplace culture and employee engagement. As New York Times reported, some CEOs are eager to have their teams back in the office, while others are ready to embrace a remote-only or hybrid working style.
Remote work can help you grow your team and your company, provided you keep a few things in mind. Working with the virtual CFOs at New Direction Capital is one way to map out a plan for strategic growth that includes a fully or mostly remote team.
Among the perks of remote work for employees is the increased flexibility it offers. Instead of being tied to their desks from nine to five, employees can start earlier or later, as their schedule demands. They can put in a long day a few times weekly and enjoy a half-day later in the week.
As a CEO, it’s essential that you embrace flexibility when working with remote employees. Work-life balance has never been more in demand and employees are going to seek out companies that understand that. If you want to attract the best talent and grow, you need to be flexible.
Trust Your Team
Trust is also essential if you want to use remote work to grow your business. You won’t be able to accomplish your own goals and tasks if you feel you have to monitor employees constantly. Employees who work remotely tend to be more productive than those who report to an office. If they know that their bosses trust them to get the work done and they feel that their contributions are valued, your team will work effectively to help your company achieve its goals.
Adapt to Different Rules
Depending on where you hire your remote team, you might have to make adjustments to your benefits structure and salaries. Some areas have a higher cost of living than others, so you might consider paying employees who live in those areas more. Alternatively, you might consider hiring remote employees outside of expensive regions, so you can pay lower salaries.
As far as benefits go, some states have different rules regarding paid time off and leave. Make sure your company follows the rules of the states your employees live in.
Consider a Hybrid Structure
If you’re not ready to fully commit to a permanent remote work structure, one way to dip your toes in and see how it works is to use a hybrid structure. Have some employees, such as those who are out of state, work remotely. Others can come into the office a few times a week.
Whether you go fully remote or use a hybrid structure, a virtual CFO can help guide you through the process. We’ll work with you to help you create a roadmap for growth, whatever form your office structure takes. Hire your virtual CFO today.