Working from home has become the new normal for many around the world. How do employers and employees win and lose with this arrangement?
Employees can generally save money working from home, but there are some costs to consider. Gone are parking or transportation fees and likely dry cleaning expenses. Some workers may even get a tax credit for a home office. But the costs at home can go up. Utilities will likely be higher. It may cost more to boost internet speed.
There are social situations to consider. You can roll out of bed and get straight to work. For some, there's more flexibility to run errands and more time with family. Many report they are less distracted and more productive. But there are downsides, too.
There's less opportunity to socialize and network for personal and career development. People may need to make more of an effort to get out of the house. The physical line between work time and off-time can become blurred.
Companies could save money on utilities and things it takes to run an office. On the downside, not having in-person meetings and conversations can lead to miscommunications. There are questions about insurance coverage and work injury. For example, if a shelf falls on you in your home office, is that considered a work injury or a home accident?
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