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Remote Work works and could become more permanent

Welcome to the new normal, life under Corona is seeing knowledge workers working from home in unprecedented numbers.

A new survey from Gartner had 317 CFO respondents on the 30th of March. In the survey Gartner found that almost a quarter of respondents said they will put at least 20% of their on-site employees to remote work permanently, which could change after more time to include even more workers.

Figure 1: 74% of Companies plan to shift to more remote work after life under Corona

cfo-survey-april-3-gartner.png

Key Points from among CFO’s

  • 81% of CFOs plan to exceed their contractual obligations to hourly workers and to fund that they are using remote work to offer flexible schedules and maintain operations.
  • 90% of CFOs said their accounting close operations will be able to run effectively without disruptions off-site.
  • 20% of CFOs said they are cutting their on-premise technology spending with 12% planning the same move.
  • 13% of CFOs have already cut real estate expenses with another 9% planning cuts in the months to come.

The other ways CFO’s are cutting costs

  • 60% have canceled all leadership events and offsites.
  • 58% have frozen hiring.
  • 58% have canceled conference spending with 51% freezing travel and expenses.
  • 49% have delayed capital expenditures.
  • And 32% have delayed or frozen current new hire offers.

CFO’s are also managing cash more closely and also reluctant to take on more debt. Every aspect of the business are be scrutinized like never before.

Another Gartner Survey of CXO’s

  • 71% of CXO’s say that business continuity and productivity are the biggest risks from Coronavirus
  • 69% is employee health and safety
  • 45% is financial risk
  • 40% is information security risk
  • 27% is fraud risk
  • 27% is IT risk

Check out more Work from Home Stories

The longer we are isolate and companies go further into the red they will be looking to cut even more costs and we could see even more than just 20% of us working from home after this is all over.

By Platform De.Central | Source: Gartner

A former industry insider and tech industry enthusiast.

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