At the start of the pandemic, many businesses were forced to leave their in-person offices to social distance. In turn, home offices became the new normal, and employees had to work remotely. And while this was an adjustment at first, many employees have come to enjoy working remotely.
In fact, many companies are still remote or offer some type of flexible schedule. If you’re on the fence about becoming a remote-first company, keep reading. Here are five benefits of remote work worth considering:
1. Hire The Best Talent
One of the main benefits of being a remote-first company is access to a greater talent pool. Not requiring employees to come to a physical office every day increases the number of candidates you can attract because geographical location isn’t as important.
For example, let’s say your company’s office is based in Phoenix, Arizona. By incorporating remote work, you don’t have to focus on hiring candidates only in the area. You can hire along the West Coast, East Coast, and so on. Many companies have even used remote work as an opportunity to expand internationally, simply integrating a global payroll system to pay those employees.
Operating as a remote company gives you a greater chance of hiring the best talent. This is especially important if you’re looking for someone with a specific set of skills. Not to mention, remote work takes away the need for relocation costs, often increasing the number of interested applicants.
2. Save Money
Working from home can have various financial benefits, for both businesses and their employees. For one, employees won’t have to spend money filling up their gas tanks. This is a game-changer, especially considering the rise in gas prices over the last few years. Other benefits for employees are saving money on pay tolls, childcare, car insurance, and even professional clothing.
For companies, remote work can have even greater financial benefits. The biggest is saving money on a mortgage or rent payments. Having remote employees takes away the need for a brick-and-mortar office. This can save companies hundreds, if not thousands, on building costs, including utilities and maintenance.
According to research, companies can save over $10,000 for every employee working remotely at least two or three days a week. Imagine where you could allocate that money to help grow your business and increase employee satisfaction.
3. Keep Employees Healthy
Prior to the pandemic, employees worked in close proximity to their co-workers. Whether they shared the same desk space or were in a cubicle a few feet away, social distancing wasn’t a common practice. Because of this, when one employee got sick, the rest quickly followed.
When COVID-19 hit, the world started to rethink these arrangements. And in an effort to slow down the spread of the deadly virus, remote work surged. And now, thanks to these measures and recent vaccines, the coronavirus has become more manageable. But that doesn’t mean social distancing should go away.
COVID-19 is still contagious, as well as the flu and the common colds. Letting employees work remotely can keep them from catching and spreading these viruses.
4. Increase Productivity
There are many different schools of thought when it comes to remote work and its impact on productivity. Some employers fear remote working can decrease productivity because of the increase in distractions. Turns out, the opposite is true.
According to a study conducted by Stanford, productivity can increase by 13% with remote workers. This study looked at 16,000 workers over a nine-month period to evaluate their performance while working from home. The 13% increase in productivity was attributed to the home being a quieter environment to take calls and work.
Many employees also find their homes more convenient to work from because they have everything they need. For example, food. Rather than take a 30-minute break to leave the office and grab something to eat, remote workers can simply walk to their kitchen.
The Stanford study went even further saying 30% of those surveyed completed more work in less time while working remotely. One reason for this is that remote employees have more flexibility for when and how they work. This gives them more control over their environment, which can make them more productive.
5. Improve Work-Life Balance
Sure, cutting costs and increasing productivity are important. But one of the best benefits of remote work is it can improve work-life balance. Working remotely gives employees more freedom. Even if they work a set 9-to-5 schedule, they can take breaks when needed. They’re free to grab a snack and just enjoy being in their own space.
Depending on the job’s responsibility, some remote employees can even choose where they want to work. Whether that’s their home office, a coffee shop, or a relative’s kitchen table. Remote employees have more opportunities to spend time in the places, and with the people, that bring them joy.
It’s important to note that having a healthy work-life balance doesn’t just benefit the employee. After all, the happier employees are, the better they’ll perform in their roles. It can also help with employee retention. Offering employees the opportunity to work remotely can motivate them to stay with the company long-term. This means you won’t have to spend additional funds to hire and onboard as many employees.
The pandemic created a surge of remote work. And now, businesses have to decide if that’s something they want to continue implementing. As a company, it makes sense why you’d be hesitant to continue allowing remote work. There’s a common misconception that it gives employees too much freedom and can negatively impact their work. Thankfully, the information above creates a different picture and sheds light on all the benefits remote work can bring.