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Paraplanners in favour of home working post lockdown

2 June 2020

Our parameters survey asked paraplanners about how they had adapted to the new working environment ‘Working under lockdown’ – you can see some of the analysis on page 9 of our June issue.

We asked five questions around whether, post the current crisis, paraplanners felt there could be a change to way they worked prior to the lockdown.

We asked anyone who hadn’t worked from home before lockdown – 45% of respondents – if they would want to do so post lockdown [Table 1], and then whether they felt their firm would let them [Table 2].

A massive 92% said Yes (61%) or Maybe (31%). Half thought their firm would now allow them to and 36% thought it might do.

Then we asked those who had already had some home working experience whether they would like to work from home more [Table 3]and again, if they believed their firm would now allow them to [Table 4].

The figures were equally as high – 59% would want to work from home more, 27% Maybe; while 42% thought their firm would allow it and 41% that they might do so.

There is a clear groundswell of paraplanners who would want to consider a change to the way they have worked prior to the crisis and would take advantage of the opportunity of it arose.

There are advantages and disadvantages for paraplanners to be allowed to work from home under normal conditions, i.e. not in 24-hour lockdown with family/partners etc.

The ability to focus on set pieces of work or projects, fewer interruptions, increased productivity, time gained through not commuting, better work life balance, are cited as key benefits.

Being away from the team with a lack of social interaction and the ability to bounce ideas off colleagues, creating a distinction between work and home, motivation, and technology issues are raised as disadvantages.

There is no doubt that having been forced to instigate working from home has shown many firms that not only is it feasible but it can work well, with MI showing productivity can be maintained and staff are dedicated and can be trusted to put in the hours.

For firms to show staff they are trusted as professionals in the job they do, is also a great motivator and morale builder and helps build loyalty.

It won’t be right for everyone but if financial planning owners are on the same wavelength as our survey respondents, greater home working could be one change we see once the crisis is over.

Do paraplanners want to increase their home working after the crisis – and would their firms allow it?

 Table 1: If you didn’t work from home before, would you want to post lock down?

Yes      61%

Maybe 31%

No       8%

Table 2: Do you feel your firm would now allow it?

Yes      51%

Maybe 36%

No       13%

Table 3: If you were already able to work from home, would you want to do more post lock down?

Yes      59%

Maybe 27%

No       14%

Table 4: Do you feel your firm would now allow it?

Yes      42%

Maybe 41%

No       17%

 

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