Business

Remote Work Risks That Could Jeopardize Your Business

Introducing remote work to your team can often be a welcome change, but it comes with serious risks for your business.

When you switch from an office setting to a remote environment, you need to be aware of the potential negative side-effects.

These risks are manageable, but they demand your full attention.

If you can identify them early on, you can be ahead of any dangers for the well-being of your business and employees.

In this blog post, we’ll be talking about the biggest work risks that can harm your business.

Poorly Optimized Processes

One of the major risks for businesses that comes with the territory of remote work is having a poorly optimized work process.

If you haven’t optimized your processes for a specific remote setting, you risk a disruption of your business operations.

When your fundamental processes are poorly optimized, the communication between your employees and meeting company goals will suffer.

This can be very damaging, especially because of the pressure to deliver outstanding results during an ongoing epidemic.

For example, imagine coordinating a remote team of employees using your traditional office methods, such as phone calls, emails, and monthly meetings.

Without knowing how to use team management tools, your employees could have a hard time reaching files when they need them to complete their tasks.

It would be difficult to maintain constant communication without overwhelming your team with calls and emails that further distract them from their tasks.

Poorly optimized processes cost your business a lot in terms of time, productivity and teamwork. If you want to protect your business from this risk, educate your team on remote management tools to improve your processes.

Insufficient Communication

In a remote setting, you can’t rely on your office presence, which means insufficient communication can easily occur.

Since you have switched to remote work, you need to address the implications it has on the way your team communicates with each other. It’s easy to neglect communication when the team is not physically in the office.

Insufficient communication has a negative impact on the performance of your entire workforce.

When your team does not communicate often, they cannot distribute tasks effectively and are slow to react to changes in the plan.

This can cause your business to underperform in a critical moment — or worse, disrupt your team in the long run.

A study on remote communication by Expert Market has found that 28% of all employees regard poor communication as the primary reason they fail to deliver work on time.

Additionally, insufficient communication costs companies with 100 employees an average of $420,000 per year.

Remote work is especially vulnerable to gaps in communication.

If you are to avoid this risk, you need to adjust the communication in your team and make use of quick communication tools.

Poor Work-Life Balance

Working remotely can lead to a poor life-work balance for employees.

If your team works from home, it can be hard for them to distinguish between work time and time off.

This feeling is increased if remote teams work on flexible schedules because employees don’t have time to decompress.

A disrupted work-life balance can cause a lot of problems for your employees, from increased stress to mental health issues.

That makes them more prone to errors and negatively affects their motivation to achieve targets.

This is important because many businesses fail to recognize how their employees suffer from a poor work-life balance.

A survey by Fingerprint for Success has found that 38% of employees claim their organization doesn’t make it possible for them to have a healthy balance between their work and personal life.

Additionally, 68% believe poor work-life balance negatively affects their morale and motivation at work.

If you want to avoid these risks, you need to think about how working remotely will disrupt their work-life balance and figure out ready solutions to increase their productivity for when this problem occurs.

Data Security

Working remotely opens your business up for security risks that can be very harmful to your company’s wellbeing.

Cybersecurity attacks happen every day, and since your business works remotely, more of your operations have moved to the virtual realm.

If your team is using an unprotected network, you risk having your critical virtual assets stolen or blocked.

Virtual attacks can seize business-sensitive data and thus hurt both your operations and your reputation.

Attacks can happen even to the largest companies, so you need to have a contingency plan in place to repel them instantly.

This way, your business won’t face downtime — which can be extra damaging when your entire operations happen online.

According to a report on global network security by Radware, the average cost of an executed cyber-attack is $1.1 million.

Out of the businesses that got attacked, 37% saw a loss of reputation.

Remote workers are the ideal targets for cyber-attacks and data breaches. As more people switch to a remote setting, cloud breaches will increase, which means businesses will have to do more to protect their data.

Conclusion

Transitioning from an office setting to remote work continues to be one of the biggest challenges for business in a mid-pandemic business world.

In this post, we’ve discussed the major risks that remote businesses are susceptible to and how they can jeopardize your business.

As your team is making the transition, assess these risks and adjust your workflow accordingly.

Start thinking about the coming changes and reinforce your remote work environment against any disruptions.

Ashley Wilson is a digital nomad and writer for hire, specialized in business and tech topics. In her self-care time, she practices yoga via Youtube. She has been known to reference movies in casual conversation and enjoys trying out new food. You can get in touch with Ashley via Twitter.

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