Remote based employment is on the rise due to greater improvements in communication software and evolving COVID-19 based restrictions. 22% of the workforce will be remote by 2022, with industries related to technology, marketing, and business administration most impacted.
While freelance work and outsourcing have been commonplace for some time, never has remote work been so popular across different industries. With razor-thin profit margins and a challenging competitive landscape, businesses from New York to California enjoy the cost savings incurred by employing a remote workforce.
Remote work and a flexible schedule also offers several benefits to employees, which has further optimized this drastic revolution in work culture. Read ahead for the top remote work benefits.
The Top 6 Benefits of Remote Work
Providing flexible work options is increasing in popularity due to the numerous advantages it offers to employers. More companies than ever before are employing a remote workforce in the form of freelance, full-time employment, or other remote working arrangements.
As a result, companies are saving thousands of dollars a year in payroll fees, equipment expenses, real estate, and utilities, as well as taxes. Remote employees tend to be more engaged and productive than in traditional work environments, which further assists in driving up the bottom line and improving the quality of deliverables.
While providing many benefits to employers, remote work is also very appealing to workers. In finding a better work-life balance, both employers and employees have a mutually beneficial partnership in this new shift in global workplace culture. There are several other reasons why employees prefer working remotely, including
1. Less Commute
One of the most stressful parts of the workday can be driving to and from work. With traffic, huge increases in gasoline prices, and stressful morning routines, there is no question that the majority of workers dislike commuting.
Working from home or a nearby coffee shop minimizes the stress, time, and money that commuting requires. This optimizes the worker's health and mental well-being, which affects performance levels and turnover rates.
Remote workforces tend to be more productive, more engaged, and less absent than on-site workers, some of which can be directly correlated to the lack of commute.
2. Less Likely to Quit or Call In
Losing employees is expensive and detrimental to workplace morale. Companies with turnover rates spend more money on hiring, which gives them less to invest in new product development.
Employees mostly prefer not to switch jobs regularly, but they sometimes find they have no choice. Poor work conditions, an inability to fulfill personal obligations, and inflexible hours are the driving factors behind low retention rates.
Remote workers are much less likely to be sick, absent, or to quit their jobs than on-site workers. This is primarily due to the increase in morale and work-life flexibility that allows those who work remotely to fulfill personal obligations and still maintain employment.
3. Greater Number of Opportunities
Without a physical barrier in place preventing employers from hiring the best candidates for the job, organizations have access to a much greater talent pool. Companies that offer workplace flexibility attract a much greater number of candidates, many of whom are willing to accept less money for the remote option.
Organizations can also employ as many workers as they want from across the country, which allows them to bring in the best team possible regardless of location. This mutually beneficial arrangement allows candidates to look for work wherever they want and allows businesses to hire talent wherever they see it.
4. Better Quality of Employment
Remote workers can be more autonomous than on-site workers. They may work flexible hours in an environment that is best suited to their needs. This is particularly helpful for creative roles, as these employees perform better when working in a quiet and relaxed environment.
Though companies should enact policies to maintain some sort of structure, a remote team has much more freedom to work in the manner that best suits them. This helps to optimize the entire company culture, making it much more likely that employees work long-term at the organization.
5. Flexibility in Technology Systems
Organizations get much more use out of their communication software when they employ and support remote teams.
Remote employees can use multiple devices to communicate with team members and clients, instead of being limited to internal on-site systems. This helps to maximize collaboration while giving the worker all of the tools needed to complete important business activities.
6. Improved Engagement
Organizations see a much greater increase in productivity from a remote workforce. This surprised many experts who believed the opposite would hold true. Without a way to manage employees on-site, it's easy to see how workers could become less motivated.
However, less micromanagement and improved employee autonomy removes the restraints needed to unleash creative potential. Employees are grateful for the better work-life balance and ability to fulfill personal obligations, which in turn leads to increased productivity.
As a result, workforce morale improves and turnover rates decrease, resulting in a much stronger and long-lasting team.
In conclusion, here are the top 8 benefits to remote work arrangements -
Remote work provides a mutually beneficial partnership for both employer and employee. It saves the company money and optimizes productivity while increasing employee satisfaction.
Less commute helps to save money and increase employee satisfaction. Because the work benefits are so effective, employees get work done at home. In turn, they don't tend to look for outside employment or call in sick regularly.
There are far more opportunities for remote work due to the lack of physical barriers. The quality of employment also improves due to an optimized work-life balance.
Employees prefer the greater flexibility in communication mediums because it's easier to perform their job. They also are much more engaged, which leads to getting much more work done.