You can downsize your building

Companies have offices in prominent locations largely due to image and prestige, but these buildings can be very expensive to rent or buy. If a significant portion of your workforce starts to work from home, then it gives you the freedom to downsize to a smaller building.

You save money on overheads

On a similar note, less people working in your building means that you save money on bills and utilities such as water, heating, electricity, and more. If you’re able to downsize your office or just have fewer people in your office, then the resources your building uses up will naturally be lower, helping you to save cash.

Your tax burden may be reduced

Depending on where you live and how the tax system works, you may be able to take advantage of certain tax incentives if a portion of your workforce works from home on a part-time or full-time basis.

Reduced pay (or raises)

While it’s not the case for everyone, some employees will be happy to take pay cuts (or perhaps avoid a raise) for the benefit of working from home instead. The idea is that they will save money on reduced commuting, travel, and eating away from their home etc.

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Insights Success

Insights Success

Insights Success is an archway that caters to Entrepreneurs’ quench of technology and business updates which are currently ruling the business world.