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.
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, John
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.
A needs assessment showed that technology was critical to the launch and success
of the firm’s expansion using telework. 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 telework program
was launched - and was an immediate success.
- · 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 6% commission to its
brokers instead of the standard 5% because telecommuting reduces fixed overhead
- · 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