MANILA - Most CEOs are willing to keep the current work-from-home or alternative work arrangements for their organizations even after the pandemic due to cost savings, according to a survey by a major business group and a consultancy firm.
A survey of 161 CEOs by the Management Association of the Philippines (MAP) and PwC Philippines showed that 73 percent of respondents see their organization implementing a work-from-home policy even after COVID-19 pandemic eases.
"The new business model that everyone was compelled to adopt is actually resulting into cost savings on the part of the business and enterprises," said Alexander Cabrera, chairman and senior partner at PwC Philippines.
This set-up includes savings in office utilities, supplies, staff activities, conferences, transportation, and representation expenses, according to Cabrera.
Eighty-seven percent of the surveyed CEOs believe their organizational culture empowers employees to work effectively at home if the need arises.
Forty percent of survey respondents also said they see a potential reduction in their office space in the next 12 months.
"I think people have become more accepting of the fact that they can do a business deal, they can relate with each other virtually," Cabrera said.
But, he added, employees will eventually also want to be reimbursed for their work-from-home expenses.
"Corporations will need to deal with that and the cost is going to shift from spending in the office versus subsidizing the work-from-home arrangements that's happening now."
The survey was conducted from July to August involving 161 respondents from various companies, 50 percent of whom were from large firms, 34 percent from medium-sized businesses, 10 percent from small businesses and 6 percent from micro enterprises.
These companies are in the fields of professional and business services, financial services, technology, manufacturing, as well as transportation and logistics.
-- Report from Bruce Rodriguez, ABS-CBN News