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Business Type:
Insurance

Business Size:
Large
Multi Site
Multi Functional

Location:
Bloomfield, CT
Philadelphia, PA
Cannondale Financial
Business Issue
John Reyes wished to expand his Wilton-based mortgage brokerage firm outside of Connecticut, yet he didn’t want to add to the company’s overhead by taking on costly, additional office space.

Telecommuting Solution
Realizing that his company needed to offer more flexible work options to attract and retain the high-caliber personnel he needed to expand his business, Reyes developed a telecommuting program for existing and prospective employees. A central voicemail system keeps telecommuting employees abreast of incoming office phone calls, ensuring seamless communication with clients. In addition, the Internet connects employees, facilitating transmission of loan applications and database access.

Key Telecommuting Challenge
A needs assessment showed that technology was critical to the launch and success of the firm's expansion using telecommuting. Once the systems were in place to facilitate communication between employees from their home offices to the firm’s headquarters and access database information, the telecommuting program was launched—and was an immediate success.

Telecommuting Results
  • 40% Telecommute: Today, 3 of the company’s 12 employees telecommute; several work hours from headquarters, yet are always connected to the home office; several, now actively employed, would otherwise be unable to work.
  • Unlimited Expansion Potential: Already expanded into three new counties, the company's telework systems translate into unlimited expansion potential.
  • Greater Employee Expertise: Telecommuting allows employees to become highly familiar with the communities in which they work, while the systems in place provide ease of data submission to complete business transactions.
  • Lower Overhead = Higher Commissions: The firm is able to pay a higher commission to its brokers instead of the standard because telecommuting reduces fixed overhead expenses.
  • Higher Commissions, Flexible Work Arrangements = Loyal Employees: Greater workplace flexibility and compensation enable the company to attract, and retain loyal, highly experienced employees.
"I can grow my business in 50 states this way…"
    - John Reyes, Owner, Cannondale Financial, Wilton, CT





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