How would your firm continue serving clients and keep operations running if 40% of your team quit next week? While difficult to imagine, this scenario is one every firm leader should consider during The Great Resignation. Establishing a clear remote work policy sets expectations for employees and provides the flexibility needed to retain top talent. Firms of all sizes must evaluate how employees access essential tools and how company culture supports a remote-first environment.
Many firm leaders anticipate bringing employees back to the office full-time. However, this desire conflicts with employees who now view remote work as a necessity, not a perk. As employees seek greater work-life balance, businesses must define expectations for communication, productivity and collaboration to remain competitive.
Work from home or bust
The pandemic accelerated an existing trend, demonstrating that most accounting work can be performed anywhere. Why endure long commutes, distractions and formal dress codes when productivity can be equal or better at home or another location? Remote employees can attend meetings, manage client information and share company data securely. This flexibility is vital during inclement weather or when traveling for personal reasons but still meeting critical deadlines.
A survey by Ipsos and the World Economic Forum found that 30% of workers would seek another job rather than work away from home full time. This percentage increases among people under 35 and parents of children aged 17 and younger. A robust remote policy with procedures for equipment and software usage, guidelines for personal devices and protocols for handling lost, stolen or damaged equipment can prevent costly disruptions. Clear guidelines ensure employees safeguard systems and data and follow steps to avoid negligence or misuse.
The new war for talent
The competition for top talent is nothing new in accounting, but after a brief lull in 2020, it has returned aggressively. Many firms remained profitable during the downturn by providing high-value advisory and consulting services. Now, with economic recovery, competition for talent is fierce.
Your firm is no longer competing only with local firms but with organizations nationwide and globally. Larger firms are attracting regional professionals with pay hikes and promises of full-time remote work. Can you compete? A solid remote work policy can help you stand out to job seekers, demonstrating your commitment to flexible scheduling and support for remote workers. This policy should address handling stolen or damaged employee items, specify bring-your-own-device (BYOD) requirements and outline steps to protect sensitive data or intellectual property developed remotely.
Changing mindsets around remote work
Recently, many firm leaders have expressed a desire to return to in-person work, often citing a few low performers as justification. However, overall productivity has increased since remote work began. If some employees struggle with productivity and accountability remotely, address their performance individually. Making decisions based on exceptions risks losing high performers. Effective policy documentation ensures hurdles are recorded and corrective actions target specific individuals, not the entire remote team.
Losing talent and struggling to attract new recruits is not inevitable. If you’re focused on winning the new war for talent, concentrate on these five areas:
Uncertainty causes anxiety. Communicate clearly about remote and hybrid work plans and performance expectations. Include guidelines for remote arrangements, such as check-ins, equipment protocols and accountability measures to help employees thrive and stay engaged.
Learning and development. While training and mentoring may have suffered during the pandemic, virtual learning opportunities can be highly effective if engaging and interactive. Tools such as video calls and cloud-based training platforms support professional growth without sacrificing collaboration.
Provide employees with the tools to make remote and hybrid work successful. Cloud-based systems, communication and collaboration tools, workflow and project management applications unite teams regardless of location and enable efficient work. Ensure each employee has the right equipment and software for their role, and clarify responsibility for lost, stolen or damaged company equipment. A clear policy for personal devices and procedures for inclement weather can boost employee confidence, whether working remotely or in the office.
Leadership skills. Partners and managers play a central role in talent retention. Effective leaders engage and listen, give and receive feedback and support employees’ personal and professional goals. If firm leaders lack these skills, invest in leadership training and coaching. People leave managers, not companies, and this is especially true in remote cultures where fostering trust and accountability is essential.
Efficient processes. The shift to remote work revealed friction that may have gone unnoticed in the office. Identify problem areas and design processes with a remote-first mindset. Without standard firm-wide processes, employees may revert to personal preferences that are not ideal for the firm or clients. Clear processes help prevent negligence or misuse, and offering assistance programs can further support remote employees’ well-being. Define how your company handles intellectual property developed by employees and clarify steps to protect sensitive or proprietary information.
Don’t let the desire to return to the office override the voices of your employees. Continue listening as you adapt to new ways of working. Mistakes will happen, but listening helps resolve issues quickly. How your firm responds to remote and hybrid work demands will determine its success in the war for talent. Implementing a robust remote work policy will set expectations and guide your team toward a successful, flexible organizational model.
