10 Benefits of Remote Work for Employers and Employees
Remote work is here to stay, there is no doubt about it. The idea of working from anywhere has always been appealing, but ever since the pandemic, the once-coveted remote working became the norm. Even during times of such crisis, the benefits of remote work were more than obvious. And although the new normal is just over the horizon, the remote workforce is only getting stronger.
Are you having doubts about becoming a remote worker? Or are you struggling with the prospect of leaving the office? Maybe you are one of many employers pondering hiring remote workers, or you just want to abandon your office space and have all of your employees enjoy remote working?
Regardless of your motivation and reservations about remote work, we've compiled a thorough list of various important benefits of remote work. If you are unsure about working remotely, this will help you break the tie.
Significant cost savings for both parties
Let's start with the most obvious pro of remote working, shall we? This is one of the main reasons why both employers and companies choose to switch to remote work. And it shouldn't come as a surprise because there are significant cost reductions of business expenses and a chance for employees to be saving money as well. First, let's see how employers can save money when hiring remote employees and abandoning their physical offices.
- Office space rent
- Parking space expenses
- Monthly utilities and insurance
- Food and drinks
- Furniture, equipment, and tools
- Overhead costs
All of that can add up to a pretty neat sum. But what about employees who work remotely? Not all of their expenses are mandatory, so they won't save as much. However, the nature of remote working is surely budget-friendly. Here's a list of everything a remote worker isn't paying for:
- Cost of commute - ticket or gas
- Required attire for office space
- Eating out and visiting the nearby coffee shops
- Office expenses such as birthday parties and other celebrations
Increased productivity and output
Although this list isn't prioritized, some advantages of remote work carry more weight than others. And this one is pretty important for anyone who has decided to work remotely, as well as their employees. All of the research done shows that remote workers are more productive than their office counterparts.
There are many potential reasons why but one of the biggest is that there are fewer distractions when they aren't in the office. Coworkers aren't chatting them up, and there is no commuting time, so they can focus much better and get more done. That means that the company has increased its overall output and that the employers are better performers individually. That is undoubtedly a win-win situation for everyone.
Access to a much wider pool of talent and opportunities
Any company that decides to open remote jobs is immediately faced with an increase in their application. This is simply because they haven't tied that job position to a particular location, and anyone can qualify. Instead of constantly searching for new hires at the same place, the available talent pool expands to the entire world - just like that. The wider talent pool means you can hire employees that are better suited for your remote jobs, a better fit for your company culture, and, in turn, they will probably be paid less. All of that is beneficial to any employer.
The same goes for anyone who chooses to change jobs and start applying for remote jobs. There are many more opportunities - across industries, time zones, and working hours. Location independence is a significant factor in job hunting. Modern technology drives forward economic growth and allows employers and employees alike to have more opportunities than ever before. And remote working is just one of them.
Freedom and independence for remote workers
Many fear that they will have to quit their traditional jobs or become self-employed to have more freedom and a flexible work schedule. It used to be like that, but things have changed. Many companies are now interested in providing their employees with the best possible working conditions. And giving them independence by introducing the option to work remotely is one of the most important steps. And company culture doesn't have to suffer because of it, on the contrary. Many employees operate way better in their own environment, without micromanagement, distractions, and stress related to office life. Any advantage of remote working that is good for employees is good for their employers as well!
Improved work-life balance
Focus on mental health has been getting traction lately in the business world, especially in the wake of the latest events. Companies weren't paying so much attention to their employees' well-being, their ability to handle the stress of a modern work schedule, nor to all the pressure they've been feeling. Luckily, that has changed significantly, and remote work had a positive impact.
When there is no wasting time and energy commuting, employees can eat healthier, home-cooked meals, have more time to spend with their family, and no one is bothering them with office politics. No wonder the coveted better work-life balance is being achieved much easier.
Happier and healthier remote employees
What significantly contributes to a company's success, although difficult to measure, is employee happiness. It is dictated by many things - job description, environment, compensation, colleagues, culture, etc. And it turns out that working remotely makes employees happy.
All of the benefits of remote working that we've mentioned so far play their part, and together they contribute to employees being happier and healthier. They have more time, they feel like their employer is valuing them, they see improvements to their mental health, they are able to save money faster. They are happier, it's as simple as that. And that drives their loyalty and contributes to employee retention.
Increased employee engagement and loyalty
Did you know that replacing an employee is a much higher cost than keeping your current employees happy? Unfortunately, that is a lesson that many learn the hard way since employee happiness is hardly a crucial part of any business plan. Luckily, with remote work, that is achieved much easier.
The happiness we already mentioned has a crucial impact on how remote workers perceive their employers. They feel like there are many benefits provided to them, they are content with their remote teams and jobs, and they, in turn, express loyalty and a much higher employee engagement.
Remote workers typically connect with their coworkers even though they aren't in the same room. Remote employees spend many hours on their laptops and the bonds they create within their remote teams turn them into very committed, loyal employees interested in their companies wellbeing and success. And that is one of the most significant advantages of remote work.
Improved inclusion and diversity in every remote team
Remote work has another pro that perhaps isn't so noticeable at first glance, especially if a company has just incorporated remote working. But when you decide to have a much wider talent pool, you also open up yourself to new employees different from your current hires. Their educational background, ethnicity, personal life, unique ability, and different take on productivity can benefit the team greatly. You never know what the impact of new, global employees can be.
Another important advantage of remote work for companies is the ability to improve their inclusion. Having access to any remote job in the world is quite significant to many who aren't able to apply for a typical 9 to 5 job in their community. Perhaps they are facing some sort of disability, they need a more flexible work schedule, or they are simply more productive when they aren't in an office. Whatever the reason, allowing employees from all over the world to apply for a remote job position doesn't only improve the company's chances for success. It also contributes to the overall promotion of inclusion and diversity.
Expanded portfolio of services when working remotely
Remember how we said that whatever benefits employees is good for the employer as well? Well, in almost any case, the opposite is true as well. Having a remote job doesn't only lead to increased productivity and happier and healthier employees. There is a direct advantage for the employers as well, and it has to do with clients and work schedules.
When you opt for not having an office and working remotely, that means that you can scatter your employees across different time zones without any issues. The employees that are working remotely don't have to be in the same room, but they also don't have to work the same hours. If you hire remote workers from different parts of the world, they can cover the entire 24/7 cycle while remaining productive by working in their own 9 to 5s.
That means that fewer employees will have to work overtime, employers can extend their business hours, no office has to be open 24/7, and clients will get exactly what they need. This can significantly impact the company and its revenue, thus creating more resources to improve the well-being of workers alike.
Positive impact on the environment
Last but not least - remote work helps tremendously in reducing pollution. Greenhouse gases and carbon footprint are all reduced when companies decide to implement working remotely. There is less office space to be maintained, less waste created, energy and other resources spent, and the biggest benefit of them all - there is no commute. The benefits of remote work are plenty and diverse, helping both employers and workers. But having a positive impact on the environment helps every single person on the planet.
Remote work isn't without its cons, especially when it’s being implemented during times of crisis. There is still so much we are learning about the ability to work from anywhere, about various modalities of working remotely (one of them being the very popular hybrid model), and about making the most out of everything modern technology has to offer. However, there is no doubt that the new normal isn't in employees working inside the vibrant offices and being limited by a particular location. The future of work lies in flexibility and location independence, freedom, and a wide range of benefits. Remote working is here to stay, so make the best out of it!
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