CFOs Looking To Make Remote Work, Telecommuting More Permanent Following COVID-19, Says Gartner Stud

[DEAD7]

CFOs Looking To Make Remote Work, Telecommuting More Permanent Following COVID-19, Says Gartner Study


The new normal telecommuting may be a bit more permanent than realized, as 74% of CFOs say they expect to move previously on-site employees remote post-COVID-19, according to a Gartner survey. The survey, which had 317 CFO respondents on March 30, highlighted how remote work may become more of the norm as companies look to cut commercial real estate costs. Gartner found that almost a quarter of respondents said they will move at least 20% of their on-site employees to remote work permanently. The research firm is taking the pulse of the COVID-19 CXO shifts in a series of surveys.

Among the key shifts from CFOs and enterprises as they manage cash via COVID-19 shutdowns:
- 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.

 

[GnauzBookOfRhymes]

Been saying this. Corona will be seen as a blessing (you know what I mean) by many of the largest businesses for a few reasons. One is that overhead can be a little lower going forward if you no longer have to house/feed etc employees at a large corporate office.

Secondly is that millions of those laid off will never be rehired.

 

[dtownreppin214]

Family friend who owns a dry cleaning business for 25yrs told me he's looking to sell. Said he used to make ridiculous money in the 90's when there was a stricter dress code for the workplace so customers were dropping off loads of suits, shirts, skirts, etc every week to get cleaned. But that ever since people started dressing more casual in the workplace over the last decade it's cut into his business. Now with this change coming of people working from home, he told me he's out.

 

[hashmander]

they should have sold when they noticed business dropping due to dress code relaxation. good luck to him finding a buyer stupid enough in this climate.

 

[Robbie3000]

I’ve been working from home most of my career. This has been quite obvious for those of us who have worked from home.

If we can reduce daily traffic by 20%, that would have such a great impact on the economy.

 

[the cac mamba]

been wondering what my boss thinks about the fukkin million dollar rent he must be unmecessarily paying

 

[ColdSlither]

The organization I work for has been inching towards working from home for a while now. Especially since a few of our top people don't even have a permanent residence in the NYC area. One of our directors, his whole department works from home. My managing director live in Atlanta. Another one is in the area, but is only in the office twice a week. Sometimes not even that. A few of my other coworkers are out of state as well. On top of that, this place has been trying to cut corners everywhere in our budget. We've already blown through that shyt for the year. They're also paying for Park Ave real estate. Two floors in a high rise, and one of those floors is damn near empty. We also have a NJ office, a DC office, a Houston office, a India office and a China office. We have to have a headquarters, but I will not be surprised if the NYC office is downgraded to conform with WFH.

 

[Serious]

Lets be honest most people spend a good part of the day bsing

 

[dtownreppin214]

If we can reduce daily traffic by 20%, that would have such a great impact on the economy.

Demand for oil would plummet in this country and gas prices would most likely remain low.

been wondering what my boss thinks about the fukkin million dollar rent he must be unmecessarily paying

If I owned a mid-size small biz with 20-50 employees, I'd have everyone work remote and rent out co-working space ad hoc.

 

[Robbie3000]

Demand for oil would plummet in this country and gas prices would most likely remain low.

If I owned a mid-size small biz with 20-50 employees, I'd have everyone work remote and rent out co-working space ad hoc.

Some industries have to die for us to live. Fossil fuel and healthcare industries should be first in line.

 

[dora_da_destroyer]

Some people will welcome this, but permanent WFH ain’t for everybody. The rapport, trust and even friendship with coworkers suffers. If you dont care about that, cool. But employees also better make sure they’re not getting shafted in this - there should be some form of internet, cell payment, allowance for ergonomic office furniture, and people better know how to write it off on their taxes - this matters because your utilities go up, you end up using more paper products, etc the little expenses add up

 

[iceberg_is_on_fire]

I'm a controller, my next gig will be as a CFO. I'm with it. I'm working from home. I got the two screen setup at the crib. I'm rocking and rolling.

 

[F K]

"Gartner Stud"

 

[The Bilingual Gringo]

Lets be honest most people spend a good part of the day bsing

True, but most people do in an office as well. But a lot of supervisors/management are under the guise since it's at the office then they're working, which is wildly antiquated.

 

[Hood Critic]

True, but most people do in an office as well. But a lot of supervisors/management are under the guise since it's at the office then they're working, which is wildly antiquated.

This this this.

My VP uses this line of thinking in his rationale to frown on permanent or scheduled WFH. We are the only group in IT within our district who does not do either until a month ago. I sure hope that changes. Because the same amount of time we spend chit chatting, hitting the internal coffee shop or taking the "brief" walk to Starbucks around the block is the same time we spend surfing the internet, watching tv or doing laundry at home.