In the aftermath of the pandemic, changes to business and lifestyle cultures have been massive. Locked in their homes, people learned they could work at home without commuting. Not needing to commute, people have learned to do their shopping online. This has upended the status quo of businesses everywhere.
Companies must be adaptable and decisive in their policy changes to survive this post-pandemic world. The inability to pivot can lead to the company posting losses or even closing.
Accepting remote work as the new normal
Many business owners and CEOs are still trapped in their old ways of thinking. Those who insist on requiring employees to return to the office (RTO) will bleed talent. Those who insist on holding on to their expensive leases will find their businesses undercut by competitors who can offer lower prices due to lower costs.
The way forward is clear. Corporate office downsizing and hybrid work are the new normal.
Ensuring compliance with employment laws
Remote work requires changes in work policies and employment contracts. Companies must correctly identify their workers as independent contractors or employees. Compliance with federal and state laws on wages and hours also needs reviewing.
More than that, companies need to institute policies and updated contracts on protecting trade secrets and intellectual property. The possibility of remote employees residing in different locations also introduces multi-state taxation issues.
Cost and benefits overall
The policy shift and consequent review of employment policies and contracts may seem expensive initially, but emerging studies suggest that the benefits outweigh transition costs. For companies looking to make the change, the guidance of an experienced legal counsel could be invaluable.