As the country continues a choppy reopening in the midst of the COVID-19 pandemic, middle market companies are developing and implementing strategies to safely return to the workplace. RSM US Middle Market Business Index data from the third quarter shows some significant differences in the back-to-work approaches between lower middle market companies and their upper middle market counterparts.
Smaller middle market companies lagged behind larger midsize businesses in transitioning people to remote work. In fact, 24% of companies polled with between $10 million-$50 million in revenue had no employees working remotely, compared to less than 5% of respondents with between $50 million-$1 billion in revenue. While in some instances this may have hindered the productivity of smaller companies during lockdown periods, the cohort may have the leg up in returning to the workplace.
“Getting back into the office creates a lot of issues for companies, particularly around HR,” said RSM Principal Jay Schulman. “Smaller companies can adapt and accommodate these issues with more agility than larger companies.”
While companies are taking several steps to reintroduce employees to the workplace, a major issue remains out of their control. “Schools opening remotely remains the biggest pain point in the middle market, with many parents unable to go back to an office because their kids are attending school from home,” said Schulman.