Yahoo has been hogging the media headlines for an internal memo banning telecommuting by employees. Should you do the same with your real estate investing company?
Apparently the reasons given surround connectivity and accountability. However, such a dramatic and swift mass rule change also smells of the rant of an angry impulsive CEO. So could it just be that Yahoo’s Melissa Mayer had a bad day, got let down by an employee working from home and went on the rampage without really thinking it through?
Either way this move unfortunately, probably bodes bad things for Yahoo. It will likely make hiring the best talent at all levels more difficult, dent the firm’s reputation with the public and by the numbers, reduce productivity.
After all, looking at the facts telecommuting isn’t just a neat perk Yahoo’s competition offers, it has soared in popularity and has been proven to help get more done faster, as well as improving the bottom line.
According to the U.S. Census Bureau telecommuting has increased 73% from 2005 to 2011 alone, with some almost 30 million U.S. workers choosing this way to work.
A Stanford University Study also revealed data showing those working from home were 13% more productive; resulting in real dollar savings for business owners.
A second university study also unveils that home based workers are able to work an additional 20 hours per week before hitting the same burnout as office bound counterparts.
So solo investor or CEO of a large real estate investing company don’t copy this move blindly yet. If it’s tempting, at least test it first.
There is certainly some wisdom in getting better at tracking employee production and bolstering connections. However, that doesn’t mean you have to demand everyone be chained to their desks.
Instead look at fostering online social groups, utilize UpWork for outsourcing or other outsourcing platforms or team tracking and project management software to stay on top of progress and improve accountability, and when you can arrange get-togethers to build better bonds and collaborate.