According to a recent study, approximately three out of five workers prefer to work from home. Modern employers have also realized that remote and hybrid work boosts productivity and performance significantly. From the look of things, there’s a possibility that more businesses will shift to fully remote work in the near future. In this article, we will take a closer look at seven ways in which businesses benefit from remote work.
Reduced Equipment Cost
Working from home significantly cuts down on costs associated with purchasing vital office items. Some businesses can find it expensive to invest in office equipment, especially if there are a lot of workers. In events where employees work from home, they will use their personal assets like a Windows or Macintosh laptop, ergonomic chairs, work tables, and many other items hence saving the business some expenses. Some provide a few resources like the internet to their employees; this is way cheaper than what is offered in a normal office setting.
Lower Employee Turnover
Another significant way businesses benefit from remote work is through reduced staff turnover. Employees who work from home are less likely to quit their jobs because of the flexible working schedules. Working remotely allows them to balance their life and work; they will have time to attend to other responsibilities and still work. Of course, the process of hiring new employees is costly and comes with a number of challenges. For these reasons, most companies offer remote work options to enhance employee retention.
Access to a Wider Talent Pool
Access to a broader community of competent personnel is one underrated benefit of working from home. Usually, when looking for physical employees, employers will prefer those near the business’ location to make it easier for them to commute. However, with remote jobs, people from all over the world can apply no matter if they live in Lisbon, Sydney or Singapore, allowing employers to choose the best talents. Remote work goes a long way in breaking down some employment barriers that would have limited employers from hiring the most qualified people.
Fewer Staff Absences
There’s no other common problem like absenteeism in working environments. In fact, absenteeism is one of the reasons why most businesses are not profitable. Employees who work from home are less likely to apply for sick leaves or miss work without valid reasons. It is significantly easier for them to wake up, turn on a computer, and start working in the comfort of their homes rather than driving to the office. After all, they will not be disturbed by traffic congestion, and they will not spend a whole eight or more hours in a physical workplace!
Quicker Onboarding at a Lower Cost
Conducting an entire onboarding session plays a crucial role in retaining and engaging employees. Perhaps the onboarding process is even more critical to remote workers because employers need to build relationships while orienting the new staff.
Usually, employers take a new hire around the offices and spend a couple of hours training them on their roles. However, in remote working environments, the onboarding process is done online. And in most cases, the new hires use their resources during the training, hence cutting costs.
Reduced Levels of Stress for Employees
In a typical working environment, personal finances, job responsibilities, health, and expenses can stress an employee. At the end of the day, the company loses when an employee turns up to an office while stressed. A stressed employee won’t be productive, and the business won’t profit as well. Remote work is believed to support mental health because of the flexible working hours. According to most remote workers, working from home has contributed to their overall wellness and reduced anxiety and depression.
Improved Satisfaction and Morale
An employee’s happiness goes hand-in-hand with the success of your business. Also, remote workers have higher work satisfaction as compared to those that stay in the office. This is because they have the freedom to decide what they want to do. During their break time, they can easily do activities from home to re-energize as they get ready for their next work session. Employees who have a higher morale will work extra hard, and this way, employers become sure of subsequent higher returns!
As time goes by, remote working is growing more and more popular. Soon, it will become a way of life for all business environments. Remote working is not just about saving money; it has several tangible benefits.
Other advantages of working from home would be that it allows a work-life balance, it’s easier to keep a well-balanced diet and it helps employees dedicate more time to relax and try different activities after work, such as read a book, give Big Time Gaming Ireland slots a try, listen to a podcast or even try to solve a Rubix Cube, right in the comfort of their home.