If there’s one thing we should all thank the COVID-19 pandemic for, it’s the remote work revolution it’s created. 

However, many employees and businesses have not had any time to get prepared for the idea of remote work. As a result, while the home office keeps your teams safe, it may not be sufficient to provide financial security to the company. Indeed, you have to be realistic about the situation. Home-based work is not going to replace office-based performance entirely, as some business processes are likely to be slow during the pandemic, such as delivery solutions, or even online work – as personal broadband connections could be of varying speeds. But you can curb out money waste to support your business.

Help your team regain financial stability

For a lot of households, the pandemic impacts financial stability. Some families find it hard to make ends meet when one person can’t work during the lockdown. Additionally, stockpiling and the purchase of personal protective gear can also drag household budget into the red. As a business, you may not be able to inject more money into households. But you can provide employee wellbeing solutions with a tool such as LifeWorks that can help reduce financial stress. Reducing stress can help boost work performance. 

Unproductive remote time costs you money

It would be unfair to pretend that people who work from home are lazy. Typically, home-based offices can encourage productivity and performance. However, when you are not used to working remotely, creating an engaging and comfortable home office can be tricky. If you haven’t already, it can be useful to introduce tutorials and tips for home office settings. Simple choices such as defining where to set your home office – in a nook in the lounge, in a spare bedroom, etc. – and creating a quiet and supportive environment can reduce accidental time wastes.  

Become energy-efficient

While the office may be empty, it doesn’t mean that it doesn’t cost you any money. Businesses still need to maintain insurance and maintenance costs during the pandemic. You can, however, reduce some of the maintenance costs during the period. For instance, you can find ways to reduce your energy consumption. It might seem strange to minimise energy consumption at the moment, while the office is empty. But you can use the time to isolate areas of the office and keep all unnecessary lights and temperature regulation systems switched off. This can save money in the long term and help you keep your business afloat in the long term. 

Communicate with your customers

Needless to say, delays are to be expected as safety measures can take additional time. Most customers are understanding about it. However, they need to be kept in the loop. People are happy to wait for delivery or production as long as they know when they can expect to receive their goods or services. If you are worried about complaints or cancelled orders, you need to make it a priority to inform your customers about new delivery and production times. 

There is no denying that businesses are losing money during the lockdown. Even though many have managed to replace their productivity and services partially with remote teams, there is still a lot of work to do to tackle pandemic money waste.

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