Adjusting to a Remote Work Environment

With everything that’s been going on it’s no surprise that many are still adapting to the changes we’ve seen due to the COVID-19 pandemic. With all the health restrictions, remote work has been the standard model for enterprises, bringing with it all the nuances of working from home.

But while this has been an effective step in curtailing the negative effects of the pandemic, this leads many to ask, “how will we move on from here?” 

Impact of Change

Change is nothing new when it comes to the workplace. After all, the most competitive businesses are those that are able to adapt to the latest trends and technology. Regardless, the fact is that the instantaneous change in the work environment is having a huge impact on employers and employees alike.

Now, the same restrictions and regulations that forced this dynamic are also affecting other areas in the business. Transportation restrictions are impeding shipments of goods, employee travel for meetings, and overseas worker employment.

Fortunately, it is also due to these changes that technology has seen a boom in the past year. With more and more dependency on connectivity, internet and communication technologies have accelerated their development. Online payroll services, for one, have proven themselves this past year.

Another side effect seen to be beneficial is the fact that due to the decrease in employee presence in offices, the need for leased office premises is diminishing. Now, with the effectiveness of remote work, employers are seeing more reasons to not spend on physical office space.

Implications for the Workforce 

With the shift in landscape, many workers are now seeing the opportunity to remotely work in different countries. This can only work in this system though but seeing as how it’s been proven effective there is a good chance that this can be possible even after the pandemic.

This has led to many questioning the efficiency in payroll though. That is because companies will have to factor in tax considerations for online payroll services when moving from country to country.

This in turn has led many to call for budgets to be updated for the times at hand. The added costs and requirements of tax filings and considerations should be included in any future company meetings. 

While this may be seen by some to be counterproductive, keep in mind that this comes with the benefit of not needing a physical space for the employees. This compensates for the possible increases in expenses during the payroll portion of the year. 

Increased Opportunities for Employers and Employees

Given everything we have seen in the past year, it is no surprise that many are seeing the changes in the working environment is advantageous. 

Higher flexibility and productivity, and improved employee relations are just some of the benefits that are seen to be an effect of the remote work environment. It may be that there are some that would prefer the traditional environment, but for the most part, this step into the future has given us a glimpse of what is possible. 

Conclusion

We hope this article has helped shed some light on the impact that remote working has had on payroll. As you can see, the workplace pretty much dictates everything from the day-to-day operations to the financial side of your business. It’s safe to expect similar changes as the modern workplace continues to evolve and transform. 

Totally Booked streamlines the financial side of your business to make it less intimidating and more convenient. We handle all aspects of bookkeeping including accounts payable/receivables, budgeting, payroll, app integrations, sales tax, custom reporting, bank reconciliations, and online payroll services. For more information on our services, check out our website today!