Covid-19 business lessons for the future
Leslie Robinson
Fractional Management. MD and FD services for businesses that want to increase profitability or get ready for owner/investors exit
With the movement and working restrictions imposed because of Covid-19, businesses are finding themselves having to make many changes… but these have the potential to actually improve profitability in the longer term…
Employees having to work from home…A great many businesses will be discovering that having a nice office is actually more of a luxury than necessity. Technology means that most staff can work from home, whilst the office is either replaced with a hired meeting room (or similar) or reduced to a space with a handful of "hot" desks for those times when staff absolutely have to be at the office. When you consider that every 100 square foot of office space (10' x 10') will cost upwards of £150 p.a (adding rent, rates, light & heat costs together) then that is a big saving that can be made
Add a good VOIP system and your telephone receptionist can be taking calls on her/his computer at the kitchen table and transferring them to the "extension" for a member of staff who is working from their converted shed … meetings can be via video or whatever way you want.
Staff travelling is reduced and the business saves on electric bills, office rent, rates (+ business rates on car parking spaces)
Staff will be happier without 1-2 hour commutes, no season train ticket rip-off prices to pay, and more time with their families… and happy staff are more productive, which benefits the business even more.
Meetings with clients? If you cannot go to them then it is cheaper to book a meeting room than to rent an office.
Now is the time to think how the current changes can benefit your business going forward… You may be surprised at the results.
Les Robinson