The number of businesses going remote is increasing. Over the past couple of years, we’ve seen a large number of businesses transition from forcing employees to experience the daily grind of commuting, to having the freedom to work from home.
It’s been a swift shift in the way people work and it isn’t going away! 74% of professionals expect remote work to become the new normal.Large organisations, like Twitter, announce that they will offer employees the option to work from home permanently. This shows us that remote working will be one of the most important factors for the future workforce.
Some companies are still reluctant to this change, but this isn’t something to be feared. It’s proven that companies can see a number of great benefits from working remotely. Many employers still entertain the concept that the only key benefit of remote working for their employees is to save money, but this is definitely not the case. Employees see a number of key benefits when working from home, including saving time on their commute, the ability to choose their working environment & increased flexibility.
Some businesses also offer a flexible working structure, allowing their employees to have a presence within the office whilst also enjoying some days working from home. By offering the best of both worlds the business & employees can enjoy the advantages of remote working, whilst also ensuring everyone stays in touch from a face-to-face perspective.
If you’re still on the fence about implementing remote work, we’ve pulled together a post that explores the key benefits that your business can expect from remote work.
How do companies benefit from Remote Working?
Cost saving
Companies with remote working policies can save a large amount of money on their overheads and business expenses. Think about it, how much does that prime city-centre office cost on its own? Then factor in all the little things around it such as snacks, coffees, teas, travel reimbursements, and equipment. It probably adds up to a big chunk of change.
In some cases, it’s estimated that remote working can save a business up to 50% on their expenses. That’s a saving that could be reinvested into everything from the product to the team, to make your business more competitive in the long term.
Increased productivity
We’ve all experienced distractions in a typical office environment, with people talking on the phone, tapping at the keyboard, and slurping their coffees. Without these distractions, they can just zone in on their work and get things done. In fact, a 2-year study found that amongst 800,000 employees, productivity was stable or increased when going remote. This shows us that working from home is a more productive environment as distractions are reduced.
Remote working also supports employee wellbeing, which can help them focus and allow them to make better decisions. This includes:
- Removing the stress of the daily commute
- More sleep from being able to wake up later
- Allowing them to tailor a work environment to their taste
All of these things contribute to a healthier and more productive workforce, which will help your company reach new heights!
Fewer staff absences
If several members of staff become unwell, the people responsible for the work may not complete it, or it could be allocated to someone who is less qualified. That’s a serious threat to performance if deadlines are not met, or if quality control is diminished. Remote work would help reduce the number of absences, as it’s much easier working in the comfort of your own home, than making the dreaded commute in the morning & spending all day in the office. Plus if you have an employee who is unwell & they decide to work from the office, then there is a chance of their illness spreading to other employees within the business. With unwell employees spending their time at home it reduces the potential impact on the wider business.
Employee satisfaction
A survey found that some employees would accept up to a 50% salary cut in exchange for not returning to the office full-time. Just let that sink in for a moment, they are willing to lose almost half their salary for a better work-life balance. Now if you offered them that flexibility through remote working, their satisfaction levels would skyrocket. A happy and satisfied employee is more often than not, a better employee. Improving your employee satisfaction, not only has a positive impact on their performance but also increases the chances of them staying in that position for an extended period.
A positive environmental impact
Did you know? A study found that 98% of an employee’s carbon footprint comes from commuting. Now if you let your workers skip their daily commute, it would have an enormous environmental impact. Therefore, if your company wants to flex its green credentials and become more eco-friendly, it needs to be a remote-first organisation. This will also attract more eco-conscious customers to your business.
Access to more applicants
Remote companies are able to recruit from a much broader talent pool, instead of hiring applicants in a local radius. This means that top talent can be accessed around the world so you can pick your ‘dream team’ without the worry of travel restrictions, or even time-zone differences. In addition, remote jobs tend to receive a higher volume of applicants, allowing vacancies to be filled more quickly and efficiently.
Helps foster diversity and inclusion
Promoting diversity in the workplace is an important aspect of good people management, where all staff feels equally valued. It’s essential that they can participate and achieve their full potential, otherwise, they might start looking for new jobs. Introducing remote working would help facilitate an environment where people feel most comfortable being themselves, which makes it easier to work alongside their colleagues and speak up about any problems they may have.
Lower employee turnover
Known as the ‘’big quit’’. Employees are leaving workplaces that don’t suit their needs anymore. This is especially caused by organisations trying to lure people back into the office Monday to Friday. If you’re losing a significant amount of employees, then the chances are, you’re losing valuable talent. This is going to affect your business performance long-term. By switching to remote working, you’ll be fulfilling their needs in order to remain loyal to your organisation.
Final Thoughts
If your company is ready to reap the benefits of working from home, we recommend creating a remote working strategy. This will help make sure that communication between colleagues is clear and employees have everything they need to continue working as normal. Once your company has made this transition, you may wish to explore our guide on ‘How To Monitor Remote Employees Without Being A Micro Manager’.
