One of the most drastic changes that has hit the work market recently is the transition of most employees to a work from home basis. We are not saying that there weren’t people already remotely working from home before the corona Virus Epidemic, but it wasn’t the usual work format.
With a full return to working from the office not in the works soon we thought about writing an article about why remote working is as beneficial for the employer as it is for the employee.
Currently, a lot of managers and firms remain skeptical about the remote work format and don’t believe it’s as efficient or productive as working from the office, while others have embraced it with arms wide open.
Not all Employers have faith in the work from home approach and remain skeptical. This fear comes from a general belief that it’s easier to make sure that people are doing their jobs as long as they’re close at hand and can be monitored, that’s why we will talk about what’s in it for you as an employer and as a business.
We are here to tell you why you might be actually reaping more benefits, output & productivity from your remote workers than your employees working from the office in 5 points.
1. Higher Productivity & Less wasted Time.
Any company or firm’s goal is mainly to maximize its profits, expand, create new revenue streams & Decrease cost. A big part of that comes from making sure that your employees are at their highest productivity level and numerous statistics show that employees who are working from home generally tend to produce more and better quality output.
Not only is an increase in productivity with lesser time wasted benefits of the employer as much as it benefits you as an employee. The reason behind this is that the less time is wasted the more you will be able to achieve more in less time, leaving extra space in the day for socializing, going out or with friends or just resting. Here are some quick stats relating to these two points.
- According to a 2012 Stanford study, where a 13% increase in Performance was attributed as 9% to shorter breaks being taken by the remote workers and 4% due to the far less distracting environment of the remote workers.
- Other effects were that the remote workers stayed with the Company Longer and reported higher levels of happiness.
- Another study, Owl Labs’ 2019 State of Remote Work report shows that remote workers work for over 40 hours per week. Which is 43 % more than on sight workers and their reason was liking their work in opposition to it being the manager’s requirement for those working in the office.
2. No More Office Expenses.
It might seem as not enough of a reason to shift into a full work from home model but just give it some thought and you’re gonna see where I’m coming from.
Among the expenses of any business or company is something called running costs and these are costs that are recurring and will continue to be there as long as its operating examples of which are electricity, catering for employees among others.
Now imagine the cost reduction that ties into not needing any office furniture, office space, electricity payments, better yet let me give you an example from IBM saving on something as small as office snacks & supplies saved an annual amount of 100 million dollars.
3. It’s easier than ever.
Technological constraints would not allow for having such a remote Set up as today. Not only do we as individuals have several means and methods to communicate with each other, but even having a meeting with someone who might be on the other side of the world is at the palm of our hands.
Some examples of video conferencing tools that allow you to hold face to face meetings would be google meets, Zoom & skype among others.
Organizing tasks and distributing them on your teammates and monitoring their progress has also become so much easier through project management tools such as Trello, Slack, yammer, Base camp, Patio and many others.
4. Widen your employment pool
Not being restricted to the traditional process of employment and being able to access job markets miles and miles away definitely opens new horizons.
Due to what is known as the “Millennial effect” millions of young and vibrant individuals are able to exchange info and communicate with each other which also opens up better employment prospects, with many of them finding a home in platforms such as Up work, Fiver, freelancer among others.
Supporting Statistics: show that 68 % of millennial job seekers stated that the inclusion or lack of a remote work option greatly influences their interest in joining or working for a company.
5. Boosts Employee Retention & Loyalty.
One of the biggest investments you can make to your business is in your workforce, your employees or in other words your day to day grinders.
When people are allowed to work remotely they feel more trusted by their corporation or employer, in turn making him more invested in the firm and boosting his loyalty levels.
The reason behind this could be to the Work life balance, non existent commute times & flexible schedules among others. Another benefit is that Remote workers are more likely to stick along longer than non-remote ones.
- According to the Owl Labs’ 2019 State, Remote Workers state they are more likely to stay in their current job for more than 5 years 13 % more than their office counterparts.
- Another interesting result of the owl Report is that 55% of the remote workers stated that they would look for jobs somewhere else if they no longer had the remote work option and 61% of them would be expecting a raise if that change were to happen.
Boost your Employees Loyalty and productivity with our Business MBA, DBA & solutions :
In conclusion, we are not saying that remote working is all sunshine, butterflies and rainbows, as some people may find working from home uncomfortable or more distracting, in turn making the office environment the preferable one in this case.
Some companies might not have the setup to support it. What is evident however that it is a growing work framework and is gaining more and more traction.
According to Statistics, over the past 5 years, the remote workforce has grown by 44% and by 91% over the past ten years. As per a survey concluded by Miro 69% of the companies surveyed by them have at least one team member working remotely.
In short, it looks that working remotely, as a working arrangement is on a rise and will be a key element in the employment process for the future, so adapting to it is no longer a luxury but a must.