remote work is here to stay

pie chart
the next normal arrives: fully 81% of accounting firms see an increase in remote work even as they re-open their offices. (convergence consulting)

as accounting firms re-open, they’re competing for talent on work-from-home plans and reaping windfalls with smaller offices.

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no doubt about it, a capacity to work remotely has saved the tax and accounting business.

the question now is: what will tomorrow’s tax and accounting offices look like, post-pandemic?

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in fact, the increase in remote work is likely to continue and expand in the future.

fully 81 percent of firms are expecting an increase or significant increase in people working remotely, according to a research study by convergence consulting,

shrinking footprint

the shift to remote locations may have a significant impact on office real estate. thirty percent of firms project reducing their office acreage – no surprise, given that the cost of space is most firms’ second-largest expense. only 6 percent expect to expand their office footprint.

firms are arguably in the business of processing and moving information. with no checkout lines, customer traffic, or manufacturing processes, firms have found it relatively easy to move staff off-site. sixty-one percent of respondents say their shift to remote was seamless, though 27 percent say the abrupt change resulted in gaps and issues.

only 4 percent have gone totally remote, offering all services from outside a central office. at the other extreme, 7 percent say they have a few people working remotely but their infrastructure is keeping most employees in the traditional office venue.

working with – and properly training – interns is a bit more challenging than merely coordinating ongoing staff. but dispensing with intern programs is a counterproductive option. if firms want to keep their talent pipeline flowing, they need to develop remote intern programs. so far, 55 percent of firms that have moved their intern programs out of the office, are preparing for such a move or exploring ways to do so.

appreciating the flexibility

apparently, staff and owners are learning to like working at home. some will always prefer the sociability and easy communication that central offices offer. but many are appreciating the flexibility of home offices. to attract talent and maintain long-term viability, firms are going to have to offer both options.

look at these numbers:

  • 32 percent expect a significant increase in team members working remotely.
  • 49 percent expect at least some increase.
  • only 16 percent expect their team members to work as they did pre-pandemic.
  • only 3 percent expect to have fewer people working remotely post-pandemic.

a pwc survey shows that 55 percent of executives project that most team members will be working from home at least one day per week, and 72 percent of office workers said they would like to work from home at least two days per week.

almost a third of remote workers say they would rather not return to the office at all.