Posted on March 18, 2020
In the 21st century, employees want flexibility. They want to live where they choose, pick up their kids from school, create their own hours and earn a competitive salary, which is where remote work comes in. Work from home, telecommuting, remote work—this trending work scenario has multiple names. While startups are thrilled at this anything-goes business mentality, many businesses are struggling to keep up.
In our last post, we explored how remote work benefits employees, but what about employers? Are they drawing the short straw when it comes to work-from-home policies? Not even close.
How Remote Work Benefits Businesses
When businesses empower their employees with the freedom to work remotely, they reap the benefits in the form of employees who feel good about their work, not to mention a higher eNPS Employees in control of their work schedule and location want to stay with their employer’s longer, work harder, and cost less.
Remote Work Policies Reduce Turnover
Incorporating a remote work policy into your business reduces turnover by eliminating many of the typical reasons for quitting, like a major move or a new baby. It keeps your business competitive in a sea of remote work opportunities available to your employees elsewhere. According to a 2019 study by Zapier, 74 percent of U.S. knowledge workers are willing to quit their job for a remote work position. Going remote will save you those employees. Remote work also decreases the risk of employees quitting due to burnout by helping them maintain a healthy work-life balance.
Remote Work Policies Allow You to Hire the Best in the World
Why limit yourself to just local talent when you can have the best in the world? Hiring remote workers gives businesses a much wider pool of applicants. As long as applicants can work in the time zones necessary, location becomes irrelevant. Your business can hire the best fit for the job while increasing diversity—another important feature potential hires look for.
Remote Working Lowers Operating Costs
According to GlobalWorkplaceAnalytics.com, “businesses would save an average of $11,000 per half-time telecommuter per year.” Many businesses wonder if they can afford to allow employees to work remotely, but after considering the research, can they really afford not to? The internet is amazing in how it enables businesses to thrive without providing a workspace for employees. When employees work remotely, businesses save on everything that goes into owning or renting a workspace including office supplies, maintenance, rent, utilities, security and more. Remote work frees up a business’s budget so more resources can go into hiring the best talent, growing the company, employee training, and more.
Working Remotely Boosts Productivity
Not every worker is cut out for remote work, but for those that are, their productivity increases by 10 minutes per day. The absence of office distractions and the freedom to work when personal productivity is peaking helps remote workers stay productive. Studies show they take more frequent breaks than in-office employees, but spend more time actively working.
Is Remote Work Right for Your Business?
Employees that are trusted to work without supervision are more satisfied with their jobs. They take ownership over their schedules and even tend to work harder than in-office employees to show that the freedom extended to them was not in vain. You want your employees to fall in love with their work, and as their employer, you can contribute to that.
Learn if implementing a remote work policy is right for your business by asking employees in your next eNPS survey.
Not sure what an eNPS survey is? Learn here.