As we continue to work remotely in the fall, many ask how long we’re going to be working in this fashion. A recent article in The Wall Street Journal quotes top executives of notable companies such as Netflix, Blackrock and Facebook regarding their thoughts about remote work. Interesting, but maybe not surprising, is that there isn’t a consistent view on what the workforce will look like in the future based on the quotes in the article.
As a business owner, you may be asking yourself the same thing. You may be planning for a capital expenditure project or another product line, but how can you do that with a remote workforce? Maybe you’re beginning your planning for 2021 and wondering what your financial results will look like if you continue to be remote in 2021. And what if you’re only remote for half of the year? What do the results of your business look like without that new product line or capital expenditure?
As everyone deals with the very same challenges with a remote workforce and not having the vision of how long this will last, business owners should be scenario-planning to make sure that they are prepared for the impact. Decision-making in critical times needs to be timely to have the greatest impact, and scenario-planning for the unknown will help business owners prepare for the impact before it happens.
Our business advisors can help in modeling and analyzing these decisions. We have performed numerous financial analyses models for a wide range of industries and scenarios. If you need more information or assistance with financial modeling, visit our website at https://www.schneiderdowns.com/financial-modeling-and-analysis, reach out to any of your contacts at Schneider Downs or contact Joel Rosenthal ([email protected]).
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Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.