5 ways remote work is beneficial for your company
A recent study from OwlLabs found that 44% of companies don’t allow remote work. But in today’s current workplace, that may actually be hindering your company in terms of staffing, financial and productivity.
Many employees now look for remote working opportunities, and value flexibility. In fact, 71% of survey respondents agree that the ability to work remotely would make them more likely to choose one employer over another in their next job. Companies that require employees to work from an office with no option to work remotely are putting themselves one step backwards from the get go.
So if you are reluctant to allow remote work at your organization, read on to understand why it may in fact be more beneficial than you realize.
A lot of employers worry that without having eyes on their staff, they will slack off. But, what if you flipped the equation? By allowing your staff to work remotely, that shows you trust them to get the job done. In fact, 82% of respondents agree with the statement that working remotely would make them feel more trusted at work. This in turn creates more loyal, trustworthy and grateful staff members, who are less likely to scan job advertisements while they’re working from home.
One of the key drivers for staff to seek out remote work opportunities is for reasons related to work/life balance. 83% of survey respondents agree that the ability to work remotely would make them happier. Remote workers rave about claiming back time they previously spent on a commute, thus reducing stress and saving money. Instead they spend that time doing things that make them infinitely happier: spending time with friends and family, playing sports, reading, cooking or catching up on sleep! Similarly, many remote workers love the option they can work according to their own bio-rhythm. A night owl might be inspired to work all evening, while a parent may only be able to work while their child is sleeping or at school. Remote work meets these needs in a way in-house work simply can’t. This in turn creates an army of staff who are 22% happier in their job than those who never work remotely.
In a pure numbers game, by allowing your staff to work remotely, you can save money.
By spending less on office space, furniture, rates and running costs, you can repurpose that budget for more direct purposes. For example, you could increase your staff, purchase new technology or software to streamline tasks, or increase your marketing budget.
Plus, those happier, more loyal staff, we mentioned in the previous two points will help you bring increase retention rate, reducing hiring costs, training and on-boarding. Those funds can be better spent up-skilling your existing workforce instead.
Open up a bigger workforce
If you are open to employing remote workers, you no longer have the restriction of geography. Suddenly the whole world has opened up to you. So if you are struggling to find the right hire within your city, by opening the job up to remote workers you have just increased your candidate pool by thousands.
You may still want to think about restricting the job to locations that are within your time zone, currency or country due to bureaucratic hassles. But by increasing your options, you are improving your chances of finding the perfect fit for your organization.
Similarly, by actively encouraging remote work, you will position your organization as an employer of choice, and you will be able to attract a modern talent pool who prioritize flexibility, and want to be part of an adaptable and progressive organization.
We’ve all been there. We’re busy typing away on a report or crunching the numbers for the budget meeting when a colleague stops by your desk “with a super quick question” that takes up the next 45 minutes.
This frustration can be avoided by working from home. In fact, numerous studies on remote working have concluded that employers are much more productive when working remotely for this exact reason.
They can knuckle down and focus, distraction-free, at the time and place that suits them. Especially popular in tech gigs, when employees often work in blocks of time, having space where they won’t be interrupted in especially valuable.
The equation is pretty simple.
Happier staff = higher productivity.
Less costs + higher productivity = increased bottom line.
Of course some roles simply can’t be done remotely. Kindergarten teachers, surgeons, factory workers, and paramedics simply won’t work as purely remote roles, for now anyway. But more and more we are seeing that thanks to technology and software advancements, even traditional jobs such as therapists, language teachers, architects, travel agents and lecturers are moving online, opening up the door for remote work. In roles where remote work is possible, options such as one-day a week remote, part-time, or even trialing remote for one month are options that your organization can take to test the waters before making any huge commitments or changes. We’ve also written about The Six A’s to awesome remote meetings, which will help you make sure remote meetings are fruitful, not frustrating.
So next time you look to hire, or you have a staff member ask about the potential for remote work, consider the benefits it could bring to your organization.
If you want to find out more about working remotely, read our practical guide for remote workers in 2019.