The widespread acceptance of remote and hybrid working is largely a result of the COVID-19 pandemic. While few could have predicted how significantly it would reshape the future of work, its impact on employee expectations, job offers, and recruitment has been profound—especially within the finance and accountancy sector.
Initially, businesses had no choice but to adapt to new ways of working. However, as time has passed, many organizations across the UK are now reversing course, reducing hybrid and remote work options in favour of a return to office-based setups. This shift has sparked ongoing debate among hiring managers and finance professionals alike.
To better understand both sides of the argument, we’ve gathered insights from finance and accountancy professionals on the key advantages and disadvantages of hybrid working.
Pros of Hybrid Working for Finance Professionals
- Increased Productivity: Hybrid working allows professionals to escape office distractions, which is particularly beneficial during critical periods such as month-end and year-end reporting.
- Cost Savings & Work-Life Balance: Employees save on commuting costs, reducing financial strain and improving overall well-being—an essential benefit in today’s cost-of-living and mental health crisis.
- Wider Job Opportunities: With fewer office days required, candidates can consider roles further afield, expanding their job search. Likewise, employers gain access to a broader talent pool.
- Reduced Office Costs: Companies can implement a hot-desking model, decreasing the need for large office spaces and cutting overhead expenses.
- Flexible Working Hours: Many finance professionals use their former commute time to start work earlier or stay online longer, leading to enhanced efficiency and flexibility.
Cons of Hybrid Working for Finance Professionals
- Potential Isolation: Remote work can lead to feelings of isolation, and household distractions may reduce productivity. Additionally, new hires may struggle to integrate with the team if colleagues are working remotely.
- Inadequate Home Workspaces: Not all employees have the necessary technology or ergonomic setups to support a productive hybrid working environment.
- Challenges in Management & Oversight: Finance leaders may find it more difficult to track employee productivity, foster team collaboration, and maintain strong professional relationships in a remote setting.
- Cybersecurity Concerns: The absence of secure VPNs and robust cybersecurity measures increases the risk of exposing sensitive financial data to cyber threats.
- Unequal Workplace Policies: Some employees—particularly those required to be fully office-based—perceive hybrid working as preferential treatment, creating workplace tension.
- Study Productivity: For finance professionals pursuing ACCA, ACA, or CIMA qualifications, hybrid working can be a double-edged sword—it boosts study time but may also reduce access to in-person mentorship and collaboration.
The Future of Hybrid Work in Finance
Despite nearly five years of widespread hybrid and remote work, opinions on its effectiveness remain divided. Many employers are now increasing office attendance requirements or eliminating hybrid models altogether, leading to tensions between finance professionals and their employers.
Employees argue that hybrid work enhances their productivity, while businesses weigh the trade-offs between flexibility and operational efficiency. Ultimately, companies looking to attract and retain top finance talent must carefully consider their stance on hybrid work. Offering flexible arrangements could be a key differentiator in a competitive hiring market.
If you’re an employer seeking skilled finance professionals or a candidate exploring new opportunities, reach out to Simply360 for expert advice and recruitment support.