Do you own a small business? Wanna make your banker love you? Well, maybe not love you, but certainly like you enough to renew that line of credit? When economic times get tough, bankers worry about their business borrowers. If they don’t think you’re payin’ attention to the economic downturn, that could mean curtains for your annual line of credit renewal.
Before their recent demise (no fault of small businesses), one of the nation’s largest banks, Wachovia, did more than just wring their hands�they watched over ya, by looking for ways to help their customers’ preempt financial difficulties.
And guess what? Telecommuting was one of the ways they recommend companies lighten their expense loads.
Citing research conducted by Noel Hodson, a U.K.-based telecommuting consultant, Wachovia recommended telecommuting as a way to:
Increase Productivity
Office interruptions account for 18% of a typical office-bound employee’s day.
Reduce Travel Costs
Once telecommuting technologies are common, face-to-face meetings are less necessary
Improve Employee Availability
Research shows that people who work at home are, on average, 15% more available to their co-workers than traditional workers.
Reduce Sick Days
People who work from home typically continue to do so, even when they’re sick.
Reduce Turnover Costs
Hodson’s research shows that it can cost as much as $100,000 to replace and train a high level executive.
Have you hugged your banker today? If not, send your workers home and run right over for a kiss!
Full disclosure: I used to be a banker.
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