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Tejas Securities Group and Others Offer Insight on Why Telecommuting Doesn't Fit Every Business Model
Background of Telecommuting
The term telecommuting was first termed by NASA scientist, Jack
Nilles while working on satellite communication projects in
1973. Nilles had become tired of spending great lengths of time
in Los Angeles traffic.
He felt it would be beneficial to both employees and employers
to transport work rather than individuals on a regular basis.
"By 1990, telecommuting projects were underway in a number of
companies and governmental agencies in the U.S." By 2004, 44.4
million individuals joined telecommuting. While 24.1 million of
these telecommuters were employed by companies, approximately
20.3 million were self employed. There are many reasons that can
be attributed to the growing popularity of telecommuting, such
as advances in technology and changing family roles.
Telecommuting takes drive-time out of the equation and helps the
increasing number of single parents juggle home and family
responsibilities and does the same for families in which both
parents work, a group whose figures are also on the rise.
But while telecommuting is a growing trend that works for many
businesses, there are some, like investment trading firms like
Tejas Securities Group,
Inc, where the work situation doesn't lend itself to
telecommuting. Let's explore how telecommuting does and doesn't
work now that it's been an option for about 15 years.
Careers Compatible with Telecommuting
Although the idea of telecommuting may appeal to individuals in
a wide variety of careers, some jobs are much more conducive to
telecommuting. Telecommuting is quite effective for individuals
who spend the majority of their professional hours working
alone. This work typically includes writing reports,
researching, working on project proposals, and inputting data.
This group includes; programmers, graphic artists, architects,
accountants, engineers, researchers, writers, and non-retail
sales people. The majority of individuals in these positions
telecommute only part-time. Typically three days are spent in a
central office each week. Office time is often reserved for face
to face meetings, team sessions, and the use of specialized
equipment.
"Most of the writers, artists and even the people on the
"business" side of ad agencies spend some portion of their work
time working from home," said Marc Engelsman, Account Director
with Medicus, a NYC-based ad agency. "It gives people the
opportunity to free themselves up so they can concentrate on
creating in a more relaxed atmosphere than they'd have in a busy
office."
Advantages for Employees
One of the most appealing aspects of telecommuting is the time
that is saved by eliminating the commute to work. The time that
is typically reserved for commuting can be used to get an
earlier start on work, sleep longer, spend time with family and
friends, or for other hobbies and activities. Individuals with
physical challenges may especially benefit from time and effort
spent on not spent on commuting and may be more comfortable
working from their homes. In addition to time saved on
commuting, telecommuters are also able to create flexible
schedules. Their working time is not constrained to the typical
eight hour day. Many telecommuters also report less stress than
employees in the traditional office setting.
Whether the employee uses public transportation or drives, the
elimination of commuting will save money as well. Car owners
will save money on gasoline, oil, maintenance, and parking.
Telecommuters are also able to eliminate the expenses of
business attire, going out to eat during work hours, and
childcare. Home-based business owners benefit from additional
financial savings as well. These entrepreneurs save money on
rent, start up costs, and can take advantage of work related tax
breaks (e.g., phone bill, internet bill).
Advantages for Employers
Due to the popularity of telecommuting, many employers utilize
this option as a recruitment tool and as a result may attract a
larger number of qualified candidates. Companies receive
financial benefits from telecommuting as well. Even if companies
only offer part-time telecommuting, offices can be smaller and
less costly. Additional
benefits for employers include,
employees taking less sick days, willing to work longer hours,
feeling more rested and relaxed, and being outside the "normal"
work day.
Telecommuting Not for Everyone
Despite the numerous benefits, some jobs simply cannot be done
from home. Telecommuting can create difficulties in monitoring
progress on projects and other tasks. Employers may also have
concerns over security issues. Employees may not be installing
appropriate anti-virus software or may be letting others utilize
their computer. And in some cases, the high need for real-time,
face to face communications mandates that the employees are
physically together. Take for example Tejas Securities Group,
Inc., a full-service broker/dealer and investment banking firm.
"In our business, real-time, face-to-face interaction with our
traders on the desk and our sales representatives on the floor
is critical. We do not deal in a static environment of
information. Markets are dynamic, moving up and down in seconds.
Timing can be the difference between success and failure," said
Craig Biddle, Director of Investor Relations and Corporate
Communications for Tejas Securities Group, Inc. "In addition,
there are certain intangible influences that take place on our
trading floor that cannot be recreated outside the office. It's
important to "be there", allowing your senses to help guide you
to make the right decisions on behalf of your clients. Eye
contact, tone of voice, momentum can all be extremely important
in successful execution".
And sometimes the job could be performed in a home environment,
but it just doesn't work for the individual. Some people who
have tried to work at home have found themselves faced with
family interruptions, non-business phone calls, unannounced
visitors, and the lure of "just throwing in some laundry" or
having the TV on for background noise, only to have their
attention diverted by what's on the screen. Many telecommuters
also fail to provide themselves with adequate work space.
Without having a separate area for materials and equipment,
privacy and protection is unlikely to occur. Another obstacle
for telecommuters is finding appropriate places to meet with
clients. If the meeting occurs in the telecommuter's home, it
may seem unprofessional. Other options, such as restaurants and
coffee shops do not offer privacy that is often needed.
Although working from home provides employees with many
comforts not available in the office, many individuals begin to
feel isolated. While they can call, email or IM their
colleagues, they miss the face to face interaction.
Telecommuters can also become easily consumed with work because
they are always physically near their work space.
For all of these reasons, even the most diligent employees may
find it impossible to make working at home work for them.
Alternatives to Telecommuting
Employers and employees who are searching for the benefits of
both a traditional office environment and working from home may
be interested in the "workclub" model. These facilities would
allow employees "to meet with a client or colleague in a
conference area, make phone calls in private booths, have
support staff make copies, overnight a package or get a laptop
repaired." Several differentiated work areas are also provided
based on the employees' level of need for privacy and quiet.
Members are also permitted to bring dogs (after being screened)
and children. Ideally, such workclubs should be located in both
urban and suburban areas. Therefore, a large number of employees
could rely on this service. Although this work model would
eliminate some of the obstacles associated with telecommuting
certain companies may still find that efficiency is best
attained in a traditional office setting.
About the author:
Company Information Tejas Securities Group, Inc., a Texas
corporation ("Tejas Securities"), is a wholly owned subsidiary
and a primary business operating unit of Tejas Incorporated, a
publicly traded financial services company. Tejas Securities is
a full service brokerage and investment banking firm that
focuses on the following: (i) proprietary research on distressed
debt and special situation securities, (ii)
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