The pandemic changed the world of work forever. We swapped offices for kitchen tables and water cooler chats for coffee shop meetups. While the pandemic inspired a remote working revolution, it also showed us that working from home can save finance leaders an hour or more per day.
Productivity stats for working from home show why how we could all benefit from a day out of the office. It’s not just those working administration-based jobs that can benefit from working from home. Finance leaders can reclaim their time, become more productive, and save an hour or more a day by working from home.
The rise in productivity of finance leaders is a driving force behind the demand for remote CFOs. At FD Capital, we connect companies with senior financial professionals to work on a part-time, interim, and remote basis. We work with companies throughout the UK and beyond with our portfolio of senior financial executives.
We’re sharing everything you need to know about productivity when working from home and how it can benefit finance leaders.
Why Finance Leaders Are Working from Home
At a time of Zoom calls and Google Drive, there’s not much that finance leaders can’t do from home. Studies conducted throughout the pandemic show that professionals are more productive when working from home than in the office.
Industries – including financial leaders – were largely reluctant to adopt working from home due to concerns about procrastination, lower work output, and workers being easily distracted. The pandemic has found these concerns to be largely unfounded.
Those who work from home are almost 50% more productive and effectively work an extra day a week. These statistics are founded on the basis that those who work from home do so more consistently and can work longer hours without distractions.
Research from the Bureau of Labor Statistics in 2019 found that finance leaders and those working in the financial industry are among the most likely to work from home on the days they worked. Working from home allows finance leaders to be more productive and have higher turnaround times on projects.
A study from Owl Labs found that only 36% of professionals believe that working in an office was suitable for individual work. As most professionals prefer to work individually, remote working naturally produces higher productivity levels.
Higher Performance Working from Home
Research from Stanford carried out across 9 months found that professionals working from home boosted their productivity by 13%. This increased productivity translates to an extra day of output per week. It’s also linked to fewer breaks during the working day and a lower number of sick days.
While this may sound like increased pressure, the same study found that there were increased levels of work satisfaction. A two-year study conducted by the Great Place to Work found that productivity remained stable or increased the longer that employees worked from home.
Productivity and Remote Working
Remote working – whether from home or another location – has been shown to boost productivity by up to 77%. It’s not necessary to work remotely full-time to see the benefits.
Finance professionals who work remotely a few times each month can see the productivity benefits. 30% of professionals do more work in less than it would take in an office, while 24% do more work in the same time frame as working in an office.
Working from home allows finance leaders to be more productive as it reduces expenses and removes time spent commuting to work. Removing the work commute means financial professionals can start their working day earlier and with fewer distractions.
How Finance Leaders Can Save Time
While remote working has increased productivity levels, it hasn’t changed the working day. Most finance leaders continue to work a typical 8:30 am to 5:30 pm schedule and use emailing and video conferencing to continue most in-office communications. Removing distractions, such as fellow employees, allow workers to spend more of their time focused on their projects and tasks.
One thing every finance leader should consider when working from home is a lack of social interaction. It’s one concern that’s raised throughout research on working from home. That’s where hybrid working appears to hold an advantage over fully remote setups.
Moving from an office-based job to working remotely can take time to get used to. Finance leaders who work remotely can save an hour or more per day by working from home. There are various steps you can take to set your remote working space up for success.
At FD Capital, we have recruitment opportunities for finance leaders to work with international companies through remote work. Our top advice for financial professionals working remotely is to create a productive workspace. You want to recreate a traditional office space, whether it’s at your local coffee shop or in an at-home office.
You’ll need to have a primary computer that runs all the software and systems that you require. Most financial professionals will have a remote work setup that they can take with them on the go, including a microphone for video conferencing and digital planning systems.
If you struggle with procrastination, you can still take advantage of remote working as a way to be productive. Finance leaders typically plan their day around intense work intervals that allow them to focus on specific tasks. While these work intervals can be beneficial, don’t forget to take breaks throughout the day.
Finding a Remote Job as a Finance Leader
At FD Capital, we recruit for hybrid and remote working opportunities. The rise in productivity from remote working means that more companies across every industry are transitioning to hybrid offices.
If you’re a finance leader looking to take the next step in your career, our team are here to help. Our curated approach to recruitment allows us to connect companies with their ideal finance executives that have the skills and experience they need to grow.
Start your journey with FD Capital and explore remote working positions for FDs, CFOs, and finance executives by contacting us at [email protected].
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