According to Global Workplace Analytics, the Fortune 1000 companies are changing the way they do business because they understand their staff can now work from anywhere thanks to the mobile internet. Studies have shown that most employees are away from their desk for around half of their working day.
Meanwhile, remote working among the employed is the fastest growing employment sector. More companies are realizing the benefits of letting their staff work from home and tackling their job duties from around the globe. So why are they making that switch? Here are just five of the benefits of employing a that that works remotely.
1. Top Talent Employees
Hiring someone for an open positions at your organization is limited to finding the person within a commuting distance from your office. Worst case scenario is an even more difficult task of finding a right fit from a pool of candidates who need to be willing to relocate for the role.
Hiring remotely opens up your talent pool to the entire globe. You now have the power and opportunity to go ahead and bring on that rockstar recruiter or accountant that lives on the other side of the country or even on the other side of the world!
It may sound a little bit counterintuitive, but remote workers are actually more productive than their in-office counterparts. In a recent Global Workplace Analytics survey, 53 percent of remote workers stated they were likely to work overtime, while only 28 percent of their in-office counterparts suggested they would do the same.
Remote staff are happier and healthier because they have a better life-work balance.
Because they don’t have to commute, they start their day feeling less stressed and healthier; commuting is really bad for our health. Commuting has been linked to weight gain, increased stress, loneliness, and quite literally causes a pain in the neck. Happier employees are more productive employees.
Telecommuters are less likely to take time off work if they’re ill. They can just work in their PJ’s and nap when they need to.
Staff who work from home tend to be more self-reliant, so when they’re faced with a problem they find a solution quickly.
Not everyone can be most productive from 9-5. Remote staff can work when they’re at their best, whether that’s 6 am or 8 pm. Night owls and ealry birds can come together under one organization. This not only means more gets done when they’re working, but they’re also more likely to put in extra hours at weekends and during holidays.
Do you know how much it really costs to replace an employee? Estimates indicate that to replace an employee making $50,000 per year will cost your business 20 percent of the salary. Working from home is always a huge bonus for any employee no matter if the role is full or part-time, and they are much less likely to look for another opportunity. Most of your competition has not innovated remote work so your employee is less likely to “downgrade“ to something that is not as convenient or as easy on their work-life balance and health.
Hiring talent to work remotely has many hidden saving; the first of which is linked to the point above –
you’re less likely have hire employee turn over!
A second saving is pay: when your candidate pool is the globe, you can hire from countries where the salary costs are lower.
According an article on Sqwiggle.com, “a study sponsored by collaboration software company PGi showed that by switching to telecommuting full time, a business could save $10,000 per employee per year in real estate costs. Expand that out to a 20-person team, and you’re talking serious spending money.”
Reduced overhead costs associated with having employees on location: Line items like office supplies and furniture, janitorial services, and electricity are all reduced.
5. Employees save money
According to the ConnectSolutions survey, the average remote worker surveyed said that they save approximately $4,600 per year by working from home – the equivalent of a couple of months in a mortgage payment. (Maybe one month in California and New York). People not only damaging their health but going broke because of their commute. Gas and public transportation prices are always rising so working remotely is a huge plus.
Access to a global staff gives you access to a diverse staff. Not only do you open up a wider net for people who need to work form home due to being a working mom, health conditions, disability, and other circumstances. You also get access to people who live and work under different conditions to your own and can offer a new angle to solutions and connections for your organization.
Having a more diverse staff is good for business. When you combine people of different races, religions, cultures and life experience you immediately add more viewpoints to any problem that you are trying to solve. That translates to more rounded solutions.
Although there are plenty of benefits to the idea of hiring remote working employees, the truth is that this model isn’t for everyone or every business. You also need a very high mutual trust in order to make it work. And you need to be able to let go of certain managerial aspects that have governed your business until this point in time. However, if these scenarios apply to your company, then
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