While the debate over remote working and office working rages on - it cannot be denied that more employers are continuing to support the concept of flexible or hybrid working.
Increased inflation can lead to a wage price spiral. The more expensive everyday living becomes, the expectations of employees to receive a corresponding increase in their salary becomes even greater.
Savvy employers are beginning to realise that they can maximise staff recruitment by offering contractual perks outside of pay. As employment opportunities arise and businesses are finding that positions remain vacant for longer, any opportunity to encourage recruitment while saving on salaries appears to be in vogue.
With remote working or working from home having clear advantages in terms of mental health, more family time and in certain circumstances, increased productivity, the concept of hybrid working is likely to remain for some time.
Yes, there are possible downsides to working from home. A perceived lack of social interaction with colleagues and the opportunity to be ever present may lead to more opportunities for promotion. However, as working from home grows through its early stages of infancy, these issues are more likely to be tackled in a productive manner and with a conciliatory tone.
For many considering remote working, the option of hybrid work is limited due to a lack of available working space in the home. They will have to consider the additional cost of house renovations or a house extension. A typical cost of a single floor annex could be anywhere between £35k to £70k as part of a traditional build.
Another popular and more financially realistic option is the installation of a garden office or office pod. While the quality and cost of these garden builds vary considerably, there are a large number of products that are ideal. The team at E-spaces Design and Create Ltd. are able to produce a wide range of bespoke builds to suit your space and pocket (learn more about them here).
Their popular e-Den range starts with a 2m x2.2m office pod at just £6,400 for a full turnkey project. Built to last with high-quality materials and energy efficient design, you will certainly get great value for your initial investment.
But just how much can you save by working from home? With an average family car costing £160 to fill, the weekly commute is a time consuming and expensive concern. A survey of 2,000 full-time UK workers by Moneybarn, a leading vehicle finance provider identified that on average, workers spend 62 minutes each day and 23 miles on a round trip. 15% of commuters are travelling more than 42 miles each day! In optimum driving conditions this could cost between £130 to £190 per month in fuel on a five day week and 20 hours of lost commuting time each month. This is before considering parking fees and depreciation costs on your vehicle
With e-spaces, you can offset the initial cost of their build with Kandoo Finance. Click here for more information. Looking at their representative example, a £1,400 deposit leaves just £103.82 per month over five years. This is already a significant saving on fuel costs alone!
Another concern for those working from home is the incredible increase in utility costs. Having to light and heat the house is a significant reason why some employees prefer to be in the office. However, it doesn’t have to be this way. The e-Den office pod is fully insulated to stay warm in the winter and cool in the summer. Better still, their complementary, low energy, flush-fit lighting only requires 20w to power the entire system. With a cost of around 50p per kw/h it should cost no more than 13p to run the lights for ten hours a day!
If you are willing to accept the initial investment costs – you will certainly recover them in the medium-term. And in the longer term, having an office pod that has been well constructed with real longevity in the design gives an additional option of selling it on or taking it with you should you move.
A shrewd capital investment in a garden office pod can save you time and money on your commute; reduce your utility costs and provide a healthy re-sale value should you require it.
Taking a leap into remote working is not just about mental well-being and time with your family. It also makes real financial sense!