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Conference Name: BuPol Kuala Lumpur 2024– International Conference on Business, Economics & Policy, 02-03
December
Conference 02-Dec- 2024 to 03-Dec- 2024
Conference Venue: Hotel Capitol, Bukit Bintang, Kuala Lumpur, Malaysia
Appears in: PEOPLE: International Journal of Social Sciences (ISSN 2454-5899)
Publication year: 2024
Leenshya Gunnoo, 2024
Volume 2024, pp. 419-430
DOI- https://doi.org/10.20319/icssh.2024.419430
This paper can be cited as: Gunnoo, L. (2024). Exploring Remote Work Adoption among Finance
Professionals in a Small Island Developing State: A Conceptual Study for the Post-Covid-19 Era. BuPol
Kuala Lumpur 2024– International Conference on Business, Economics & Policy, 02-03 December.
Proceedings of Social Science and Humanities Research Association (SSHRA), 2024,. 419-430
EXPLORING REMOTE WORK ADOPTION AMONG FINANCE
PROFESSIONALS IN A SMALL ISLAND DEVELOPING
STATE: A CONCEPTUAL STUDY FOR THE POST-COVID-19
ERA
Leenshya Gunnoo
Lecturer, University of Technology Mauritius, Mauritius,
leenshya.gunnoo@utm.ac.mu
Abstract
The COVID-19 pandemic has significantly altered traditional work environments, compelling
many organizations to adopt remote working models. This conceptual study explores the impact
of remote work on the productivity of finance professionals in the post-COVID-19 era, particularly
in Mauritius. Drawing on the Theory of Work Adjustment (TWA), the research investigates the
influence of personal well-being, environmental factors, and resource constraints on work-from-
home (WFH) productivity. The study aims to fill a gap in the existing literature by providing
theoretical insights into the unique challenges and opportunities associated with remote work in
the finance sector. The research intends to adopt a quantitative methodology, utilizing a
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systematically sampled survey to collect data from finance professionals. The survey instrument
will be adapted from established studies, ensuring reliability and validity through rigorous
pretesting and validation using the Rasch Model. Structural Equation Modelling (SEM) will be
employed to analyze the relationships between the constructs, providing a comprehensive
understanding of the factors influencing WFH productivity.The findings are expected to offer
valuable insights for senior management and policymakers in optimizing remote work strategies,
particularly in maintaining productivity and well-being among finance professionals. The study
acknowledges its limitations, including the lack of empirical data and the focus on a specific sector
and geographic region. Future research should address these limitations by incorporating real-
world data and expanding the scope to other industries and regions, thereby enhancing the
generalizability and applicability of the findings.
Keywords:
Remote Work, Work-from-Home (WFH), Productivity, Finance Professionals, Post-COVID-19
1. Introduction
The declaration of COVID-19 as a pandemic by the World Health Organization (WHO)
on March 11, 2020, marked a pivotal moment in global health and significantly disrupted
organizational operations worldwide. The rapid spread of the virus necessitated an unprecedented
shift to remote working, initiating a widespread experiment in telecommuting. Digital technologies
have been essential in maintaining social relationships and ensuring organizational continuity
during this volatile period (Fana et al., 2020). Consequently, companies globally adopted the WFH
model to sustain business operations while prioritizing the health and safety of their employees.
WFH has emerged as a viable alternative to traditional office work, allowing employees
to perform tasks remotely using advanced technologies and communication tools (Gajendran et
al., 2015). A series of measures have been implemented to facilitate the safe resumption of
economic activities. Notably, the Workers' Rights Act 2019 was amended, and the Working from
Home Regulations became effective on September 1, 2021 (Government Gazette, 2021).
Employees have had to adapt to changing work environments and practices, as outlined in the
Theory of Work Adjustment (TWA) (Dawis et al., 2000). Despite some progress by June 2021
and the gradual easing of lockdown restrictions in various countries, teleworking remains a daily
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reality for many, as authorities continue to advocate for remote work wherever practicable (Carillo
et al., 2021).
The COVID-19 pandemic has fundamentally altered work practices, reshaping
employer-employee relationships and highlighting the critical importance of information and
communication technologies. Adjusting to new environmental demands involves significant
changes in work organization and human interactions. In Mauritius, a hybrid model of WFH and
office work on a rotational basis is becoming prevalent. Some firms have adopted a fully remote
working policy post-pandemic, recognizing the benefits of flexible work arrangements. Effective
and empathetic solutions during the pandemic and post-lockdown phase may also prove valuable
in future epidemic scenarios (Belzunegui-Eraso & Erro-Garcés, 2020; Wang et al., 2021).
Finance professionals are often subjected to high levels of stress and long working
hours, factors that significantly influence their work-life balance and overall well-being. The shift
to remote work presents both opportunities and challenges in this regard, making it essential to
study how remote work arrangements affect their mental and physical health, job satisfaction, and
work-life balance. There is a notable gap in academic research concerning the specific
experiences of finance professionals working remotely after the COVID-19 pandemic. This study
aims to fill this gap by providing theoretical insights into the unique aspects of remote work in the
finance sector, contributing to the broader body of knowledge on telework and organizational
behaviour. By selecting a sample of finance professionals, this study aims to provide a nuanced
understanding of the multifaceted impacts of remote work in a highly relevant and critical sector,
offering valuable insights for both academic research and practical applications in organizational
management and policy development.
This study draws on the TWA to examine the effects of remote working on staff
productivity among Finance Professionals. It identifies a theoretical gap in existing research
concerning remote working as the new norm in the post-COVID-19 era. The theory on telework
adjustment is relatively nascent, and this study aims to address this gap by exploring the following
research questions: How does personal well-being affect productivity while WFH? How do
environmental factors affect productivity while WFH? What is the impact of resource constraints
on productivity while WFH?
The research aims to explore the perceived effects of personal well-being,
environmental factors, and resource constraints on employee job performance while working from
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home post-pandemic. Understanding these relationships will provide senior management and
corporate boards with insights to inform WFH strategies. Raghuram et al. (2001) conceptualized
and operationalized virtual work adjustment, examining key indicators of employee adaptability
to new work arrangements. They viewed adaptation to virtual labour as a comprehensive criterion
of flexibility, reflecting individuals' ability to respond to external stressors.
There is a notable difference between voluntary WFH prior to 2019 and the current
situation where remote work is mandated by employers. Hammock and Brehm (1966) noted that
imposed choices are less attractive to individuals. This distinction highlights the disparity between
occasional WFH when convenient and being compelled to work remotely without certainty about
returning to normalcy.
This conceptual study provides a framework for understanding the impact of remote
working on employee productivity in the post-COVID-19 context. By examining the interplay of
personal well-being, environmental factors, and resource constraints, the research aims to offer
valuable insights for optimizing remote work practices in the evolving landscape of business and
technology.
2. Review of Literature
This study adopts a work adjustment approach to examine how employees respond to
changes in the working environment caused by the COVID-19 pandemic, which has compelled
many to work virtually. According to the Theory of Work Adjustment (TWA), the sudden surge
in WFH due to lockdown measures represents a significant shift in the work environment, altering
the interaction between employees and their surroundings, thereby necessitating adaptation to this
challenging scenario. Specifically, this research defines mandatory telework adjustment during the
COVID-19 pandemic, as conceptualized by Raghuram et al. (2001), to be the level of adaptation
employees exhibit in response to new environmental demands arising from a global epidemic crisis
(Carillo et al., 2021; Caranto et al., 2020; Lott, 2020).
2.1 Personal Well-Being
The shift to remote working has sparked a debate on its impact on employees' well-
being. Huppert (2009) and Song and Gao (2020) define well-being as the "combination of feeling
good and functioning effectively," positing that WFH can enhance well-being by reducing
commuting time, thereby allowing more time for family and personal activities (Anderson et al.,
2015).
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2.1.1 Autonomy
WFH provides employees with greater autonomy to organize their work schedules according to
individual needs. Hackman and Oldham (1976) describe autonomy as "the extent to which
employees have control and discretion over how to conduct their tasks." According to the self-
determination theory (Deci & Ryan, 1985), autonomy is a vital job characteristic that enhances job
satisfaction and productivity. Employees feel more motivated and satisfied when they can make
decisions at their discretion, leading to increased productivity (Anderson et al., 2015; Waizenegger
et al., 2020). Enhanced autonomy promotes a healthier work-life balance, positively affecting well-
being and productivity (Wong et al., 2020; Xiao et al., 2021).
2.1.2 Job Satisfaction
Employees report higher job satisfaction and lower stress due to fewer in-office distractions and
better concentration on their work (Waizenegger et al., 2020). Locke (1976) defines job
satisfaction as "a pleasurable or positive emotional state resulting from the appraisal of one's job
or job experiences." Higher job satisfaction is associated with better job performance and
productivity, as well as improved health and well-being.
2.1.3 Flexibility
WFH offers employees the flexibility to combine work and non-work activities, such as household
chores or childcare. However, this flexibility can blur the lines between work and home, potentially
negatively impacting personal well-being.
2.1.4 Mental and Physical Health
While WFH can positively affect mental and physical health by freeing up commuting time for
exercise and family activities, it can also lead to social isolation and increased work hours, which
negatively impact well-being (Eurofound and ILO, 2017). Bouziri et al. (2020) note that
management was often unprepared for the mental health challenges posed by the sudden shift to
remote work during the pandemic.
2.1.5 Work-Life Balance
Greenhaus et al., (2003) define work-life balance as "the extent to which an individual is equally
engaged in and satisfied with his or her work and family role." Flexible work arrangements have
been shown to improve work-life balance, enhancing productivity and job satisfaction (Virick,
DaSilva, & Arrington, 2010).
2.1.6 Management Trust and Effort Recognition
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Employees feel more satisfied and motivated when they are valued and trusted by management.
This trust fosters increased productivity.
2.2 Environmental Factors
Previous studies have shown that WFH positively affects the work environment, allowing
employees to organize their schedules and workplaces to suit personal needs (Baltes et al., 1999;
Gajendran & Harrison, 2007).
2.2.1 Dedicated Workspace
Having a dedicated workspace at home can enhance focus, reduce distractions, and help maintain
work-life balance. A survey by Sheehan et al., (2021) found that less than half (45%) of
respondents WFH had a dedicated work area, while Beck and Hensher (2021) reported that nearly
75% of survey respondents worked from their wn rooms.
2.2.2 Communication
Effective communication is crucial in a remote work environment. WFH necessitates new forms
of organizational communication, including virtual meetings and interactions. Strong connections
and trust-building among co-workers are essential for maximizing productivity and minimizing
frustration (Donnelly & Proctor-Thomson, 2015).
2.2.3 Social Isolation
Social isolation is a significant disadvantage of WFH, leading to decreased work satisfaction,
productivity, and increased stress (Toscano & Zappalà, 2020; Bentley et al., 2016).
2.2.4 Distractions
Employees working from home may face distractions from household members, noise, and other
environmental factors, which can reduce concentration and productivity (Lee & Brand, 2010; Xiao
et al., 2021).
2.3 Resource Constraints
2.3.1 Tools, Equipment, and Technology: Access to appropriate tools, equipment, and
technology is essential for maintaining productivity while working from home. Lack of these
resources can negatively impact performance.
2.3.2 Internet Connection: Reliable internet connectivity is crucial for remote work. Poor internet
connections can cause frustration and hinder productivity.
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Hypotheses
Based on the preceding discussion, this study addresses the following research propositions:
P1: Personal well-being is positively related to work-from-home productivity.
P2: Environmental factors are positively related to work-from-home productivity.
P: Resource constraints are negatively related to work-from-home productivity.
This paper proposed a conceptual framework to evaluate the factors affecting the level of
productivity of Finance professionals post COVID 19 era. (Figure 1)
Figure 1: Conceptual Framework with Factors that Influence WFH Productivity
This paper proposes a conceptual framework to evaluate the factors affecting the productivity
Finance professionals in the post-COVID-19 era. The framework aims to provide insights into
how personal well-being, environmental factors, and resource constraints influence work-from-
home productivity, guiding senior management in developing effective remote work strategies.
3. Proposed Research Methodology
This study will adopt a quantitative research design, utilizing a systematic sampling
technique to ensure representativeness among accounting and finance professionals. The survey
design is chosen to comprehensively assess the factors influencing optimal work-from-home
(WFH) practices in the post-pandemic era.The survey instrument will be adapted from established
Personal well
-
Being
Environmental Factor
Resource Constraint
WFH
Productivity
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instruments used in previous studies to ensure reliability and validity. To accommodate the local
context, the research instrument will be translated into Mauritian Creole, facilitating better
understanding and accurate responses from the Mauritian respondents.
The research questionnaire will be meticulously designed, developed, pretested, and
validated using the Rasch Model. This rigorous approach will ensure the reliability and validity of
the measurement scales. The pretesting phase will help identify and rectify any potential issues,
ensuring that the final instrument accurately captures the constructs of interest.
To ensure the quality of the results and the robustness of the inferences made, the study
will focus on achieving convergent and discriminant validity of the data. Convergent validity will
be assessed to confirm that the measures are indeed capturing the intended constructs.
Discriminant validity will be evaluated to ensure that the constructs are distinct and not unduly
correlated with each other.
The data analysis will employ descriptive statistics to provide an overview of the sample
characteristics and the initial patterns in the data. For a more sophisticated analysis, Structural
Equation Modelling (SEM) will be utilized. SEM will facilitate the examination of the
relationships among the constructs and will help in obtaining a good fit for the full-fledged
structural model. This approach will enable a comprehensive understanding of the factors affecting
WFH productivity and well-being among accounting and finance professionals in the post-
pandemic era.
By employing these robust methodologies, the study aims to provide reliable and valid
insights into the best practices for WFH, contributing to both academic knowledge and practical
applications in organizational management.
4. Conclusion
In conclusion, given the growing importance of WFH practices in the lives and
operations of businesses, this research will provide valuable insights for practitioners to re-
examine the concept of organizational boundaries and the nature of labor. The empowerment of
WFH practices among finance professionals necessitates a rethinking of both physical and virtual
boundaries within organizations.
Additionally, the findings from this study must be generalized with caution, as different
crises have unique health, social, and economic effects, each with its distinctive characteristics.
Health pandemics, for instance, leave the physical and technological infrastructures of
427
organizations intact, differentiating them from other types of crises, such as natural disasters or
conflicts, where infrastructure may be compromised.
This research, therefore, highlights the necessity of considering the specific nature of
crises when developing strategies for ensuring business continuity through WFH. By addressing
these nuances, the study aims to contribute to a deeper understanding of the complexities involved
in remote working and its implications for organizational management in the post-COVID-19 era.
Despite the valuable insights anticipated from this conceptual study, several limitations
should be acknowledged: As a conceptual study, this research does not incorporate empirical data
collection and analysis. The absence of real-world data limits the ability to test and validate the
proposed hypotheses and conceptual framework. The study focuses specifically on finance
professionals, which may limit the generalizability of the findings to other industries. Different
sectors may experience unique challenges and benefits related to WFH, which are not captured in
this study. Also, this research is set within the context of Mauritius, and cultural, economic, and
regulatory differences may influence the applicability of the findings to other geographical regions.
Addressing these limitations in future empirical research can enhance the robustness and
applicability of the insights derived from this conceptual study.
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