Financial & Environmental Perks of COVID-19

By: Shannon Meyer, Director of Finance

Back in the middle of March 2020, many of us thought we were going to be working from home for a few weeks to protect ourselves from COVID-19 that was going to quickly pass through. Who would have thought that we would still be working from home months later and considering whether to make this a permanent option for our staff? Many do not have this option, especially our first responders, and we are so thankful for their service.  For those of us who can work remotely, it has been very impactful on our lives.  

There are many pros and cons to working from home for the employee and employer. For employees, the perks may include a flexible schedule, better work-life balance, reduced rush hour driving that causes stress and wastes time, and flexibility from where a person works (such as working from the beach!).

Financial savings may include reduced costs from not traveling back and forth to work (gasoline, parking expenses and maintenance due to wear and tear on a vehicle), eating at home instead of eating out and more casual, less expensive attire. Depending on a person’s situation, an employee may save up to $7,000 a year by working from home.  

Employers may also enjoy welcomed reductions in expenses. The amount of office space may be reduced or eliminated which, in turn, reduces the cost of rent. Shared workspaces may be an option. Other office expenses such as utilities, phone lines, office supplies, office furniture and the cost of cleaning services may be reduced.  There may also be an effect on the amount of taxes (property, sales and payroll) an employer pays. 

Another consideration, which is near and dear to Bohlsen Group, is the positive environmental impact of less driving on the road. With fewer miles being traveled on the road, tons of greenhouse gases are avoided, and employees can have a positive impact on air quality by making wise choices at home.

As we consider the long-term implications of working from home, communication is even more important. To reduce burnout from video meetings, meetings should be focused, with a written agenda and purpose but there also needs to be a balance so that there is team camaraderie and not the feeling of being socially isolated. Leadership must communicate effectively as well. 

At home, it is helpful to have an office or area set aside that is a dedicated workspace. This helps to create a separate work environment from home life. Once the workday is over, walk away from the workspace as you would if you were in the office and leaving for the day. 

While we did not expect to enter into this environment so abruptly, it forced some of us to try working at home. We have learned from this experience. For some, we will continue on this path and for others, we will learn that it’s not the path forward.