Remote work offers many benefits to both employers and employees. While the COVID19 pandemic brought on a more widespread use of telework, it’s actually been a normal part of many company cultures for years, especially in the technology sector, and has proven to be a successful approach, boosting productivity by 35-40 per cent.
The debate around what the new work normal will look like post pandemic is rampant. Flexibility is at the heart of this discussion: employees value a work environment that is less rigid and allows for independence. A 2018 report from Zenefits found that 73 per cent of employees said that flexible work options would increase their job satisfaction. Similarly, 78 per cent also claimed that flexible work arrangements helped them to become more productive.
As we’ve seen in the last five months, companies that were already equipped to support a remote workforce are coming out from the effects of the pandemic much stronger than those who were left scrambling to make those adaptations all of a sudden. While employing remote workers doesn’t make sense for all business functions, embracing it where possible is a good idea.
If you’re still on the fence about whether remote work should continue in your organization post-pandemic, here are some of the key benefits of employing a remote workforce to help you decide:
1. Keep a Technology Focus
Remote work wouldn’t be possible without certain technological advances. Shifting your organization to a cloud-based environment means that you can carry out your work from anywhere, be more collaborative as a team, and perhaps even better safeguard your information. One advantage of employing distance workers is that it forces your company to be on top of digital trends and keep investing in technology. Usually this leads to better operational efficiencies and ultimately cost savings.
2. Access to Global Talent
Employing a remote workforce allows you to access the best talent across the globe without geographical restrictions. Filling the need for certain functions can become easier with an expanded talent pool as can finding very specific skill sets. Global talent can also benefit your company by way of introducing global best practices and perspectives to help you grow and adapt.
3. Significant Business Savings
With a remote workforce, companies benefit from significant cost savings, from reduced office costs to reduced wasted time – research suggested that on an average, employees could be wasting over eight hours per week on non-work related activities. But employers need to consider the operational costs associated with remote work. Remote allowances and stipends are great morale boosters, making your teams feel supported and motivated.
4. Reduced Employee Turnover
Replacing an employee is costly, it involves recruiting costs, training costs and non-monetary resources such as time. Remote work perks such as reduced commute, better work-life balance and increased productivity and engagement levels has a positive impact on employee retention. Gallup research shows that highly engaged workplaces claim 41% lower absenteeism and 21% higher profitability.