Working remotely has increased in popularity over the last decade – and with good reason. Employers are beginning to see and realize the benefits of remote work for their employees. What was initially perceived as an excuse not to come into work, has evolved into an established benefit that employers can offer, detailed in company policies, that permit employees the ability to work remote, or taken one step further, perform their entire job remotely.
For employees, the benefits were more transparent. Less time spent commuting, and fewer costs spent on commuting were some of the obvious benefits. Greater productivity and more effective work hours were others. Upon realizing the benefits, employees began to use this free time to work out at home or complete other tasks that help improve their quality of life. However, as always, employers needed to see these benefits for remote work to stick around for the long run.
So why have employers embraced remote work?
It didn’t take long for employers to discover the benefits of embracing remote policies for their employees. When they began to examine the possibilities, it wasn’t hard to see that there was an obvious financial benefit that could be captured when implemented correctly.
As we discussed, benefits do not always directly impact the company’s bottom line. However, when implemented, companies can still realize the benefits that will impact the bottom line for years to come. We detail some of the top long-term employer benefits to embracing remote work.
The most common pitch to employers from prospective teleworkers is that when telecommuting they will be more productive. Most details indicate that this is true. A study from the Society of Human and Resource Management interviewing human capital experts reported that 77% of workers reported they were more productive working offsite. The report detailed other factors;
- Many employees work more hours when they are remote, even while sick or on vacation.
- Employees are more inclined to work more hours when telecommuting because they know those working hours will be more productive.
- Employees feel the same level of connectedness with other employees when working remote.
Employees who have more flexible options are more inclined to stay at their current employer. Many cities across the globe are suffering from increased traffic and longer commutes. Global Workplace Analytics, a website that provides data on telework, shared data detailing that 14% of employees have changed jobs to reduce their commuting time. They also reported other data around employee attrition:
- Employee turnover can cost between $10,000-$30,000 dollars.
- Two-thirds would leave their job for another job for a better commute.
- 46% of companies interviewed say offering telework options has reduced attrition.
Employers with telework policies are offering their employees greater opportunities to be flexible with life’s everyday surprises. Employees can now work remotely when they are sick. They still feel able to work, without the worry of getting others sick. They can work around any surprises they receive as parents, call into meetings remotely and work from a laptop in a coffee shop.
So how do employers benefit? They end up saving money letting their employees work in these situations. That same Global Workplace Analytics report revealed that “unscheduled absences cost employers $1,800/employee/year; that adds up to $300 billion/year for U.S. companies.”
Overhead Cost Reduction
There is not a benefit more direct to employers than the reduction in overhead costs with remote work. Companies spend considerable amounts on their office space by renting or purchasing. In addition to those costs, cleaning, maintenance, supplies, utilities, and other costs all move in tandem with their real estate costs.
To enable remote workers some companies may need to make technology expenditures, including laptops, VPN or other networking licenses, and remote accounts and access, but these efforts often come with little or no cost and ultimately are significantly less than the savings achieved by reducing office space and related expenses.
As discussed in the article, How to Work From Home, employers will have a greater talent pool to choose from when offering remote opportunities.
Employers willing to recruit and hire employees from all over the country, and let them live where they want, are more likely to find better talent for the roles they are looking to fill. Another benefit is allowing them to be more competitive in their existing markets.
In areas like Washington D.C., San Francisco, and Seattle, employers are driving up salaries and benefits to attract and retain top talent. Employers can navigate this landscape by recruiting from other talent pools across the country without the financial impact.
If allowing employees to work remotely isn’t an option, check out this helpful guide for finding office space for small businesses or startups.
If you are facing any problem while working remotely then you can also use the Hola VPN. Through Hola VPN Discount Code, you can also get a discount on it.
About the Author:
Maria Gold is a Content Manager/Writer/Editor for Empire Resume. Her interests range from writing to programming and design. She is also passionate about innovation, entrepreneurship, and technology.