As flexible working continues to rise in popularity, we hear some of you asking ‘do you have home based financial advisor jobs’ or ‘home based mortgage advisor jobs’. Therefore, this blog is focused on covering the common pros and cons of working from home.
Benefits of working from home
Your home comforts
Being able to work from home enables you to create the working environment suited to your needs. This could include being able to have your favourite cup of tea and biscuits without fear of it going missing or being able to put some music on in the background to break the silence.
As the financial services sector is regarded as a professional industry, it is commonplace for Financial Advisors and Mortgage Advisors to be seen in smart business attire. The flexibility working from home provides is being able to dress how you want (unless you are using video conferencing, you might want to change out of your pyjamas first!).
In addition, if you are an individual who likes to stretch your legs regularly, working from home provides the ability to freely walk around the house on the telephone. This may be tricky to achieve within an office, as a colleague pacing up and down the corridor may become infuriating!
Less dead time commuting
In a survey produced by the Office of National Statistics, the UK’s average commute from home to work in 2016 was 29 minutes. Therefore, over the course of a week, you could get back an average of 5 hours. Would you use this extra time for more productivity or for your personal life?
Fewer sick days
Common cold or flu going round the office… no chance of catching that if you are working from home! Plus, if you are feeling under the weather, there’s a good chance you can still chip away at your to do list whilst wrapped up on the sofa.
Drawbacks of working from home
Distractions / staying focussed
For those who have been home based before, you will know that working from home can have as many, if not more distractions than being in an office! Examples include: the daily sales calls on your landline; taking delivery of your neighbours numerous parcels; kids wanting to play; just watching ‘5’ more minutes; sorting out the washing; replying to the groupchat etc. For some individuals, the discipline of working within an office can be healthy.
When do you switch off for the day?
Technology has now enabled us to work seamlessly, wherever we want, whenever we want. However, for individuals working from home, the line of when to finish for the day can easily become blurred. If that important client calls late one evening about their pension, investment, mortgage etc, it can become all too easy to reopen the laptop and work into the night.
One of the most talked about consequences to the average homeworker is the feeling of being isolated through the lack of social interaction an office environment can provide. However, this is less common for Financial Advisors and Mortgage Advisors who are regularly out seeing clients or constantly on the phone to clients and enjoy the ongoing relationships that can be built.
Easy to stagnate / unaware of changes in the business
When deciding whether to opt for flexible working from home, you should seriously consider the impacts this may have on your career. Whilst your boss is likely to still value your work and efforts you put in, it can be easy to slip into ‘out of sight, out of mind’. Therefore, you need to make sure your business has a good communication system to keep all team members informed of changes and regular dialogue with your Manager and regularly liaise with your Paraplanners / Support staff on different cases.
Clear work from home policies
From a HR point of view, it is important both parties know what you are agreeing to, therefore clear policies on the expectations is crucial to making it a success. In addition, whilst you may have some taxable benefits for working from home (https://www.gov.uk/tax-relief-for-employees/working-at-home), if you are an employee and voluntarily choose to work from home, you cannot claim tax relief. (Please seek professional advice if you are unsure how this affects you).
If you are seeking a home based Financial Advisor job / home based Mortgage Advisor job or would like to know more about the pros and cons, give us a call today on 0208 0044 154 and you’ll be able to speak to either one of our office or remote based Recruitment Consultants!