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The future of work: financial implications of remote and hybrid work models

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  • Minthiva Pitchaya-Auckarakhun

Abstract

The research subject pertains to urgent matters concerning the evolving character of work, obstacles in regulations, and financial approaches adopted by organisations. The study is substantiated by its significance in the present-day business realm, its capacity to enlighten strategic decision-making, and its contribution to the ongoing discussions concerning the prospective nature of work. The research aims to thoroughly comprehend the monetary consequences of remote and hybrid work models. These aims encompass assessing financial metrics, examining the connection between work models and employee dynamics, and scrutinising the regulatory framework influencing financial decisions in the changing work environment. This qualitative study examines the financial implications of remote and hybrid work model trends. It focuses on the viewpoint of CEOs, CFOs, HR executives, and other critical management positions across various industries due to the growing remote work trend. The research conducted in-depth interviews with 20 management position holders to explore their experiences and decision-making processes. The study investigates how businesses integrate regulatory considerations into financial decision-making, address legal compliance, and adjust financial strategies to cater to remote work requirements. Furthermore, this research analyses the impact of tax implications on financial planning, necessitating closer collaboration between finance teams and tax experts. The research shows that adhering to regulations and labour laws directly impacts how much money is allocated for legal consultations and adjustments required for remote work. Tax implications are also important in financial decision-making, and organisations often seek expert advice to understand the financial impact. In addition, knowledge about government initiatives and incentives can help organisations make informed decisions about financial strategies, especially regarding technology investments and employee support programmes. The research presents significant qualitative viewpoints regarding the complex correlation among regulatory environments, financial decision-making, and the acceptance of remote and hybrid work patterns. The results provide applicable consequences for businesses dealing with the changing conditions of work models and add to the broader discussion on the future of work.

Suggested Citation

  • Minthiva Pitchaya-Auckarakhun, 2024. "The future of work: financial implications of remote and hybrid work models," Nowoczesne Systemy Zarządzania. Modern Management Systems, Military University of Technology, Faculty of Security, Logistics and Management, Institute of Organization and Management, issue 1, pages 13-38.
    • Handle: RePEc:aou:nszioz:y:2024:i:1:p:13-38
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    References listed on IDEAS

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