Thinking that remote work might just be another passing phase? Think again.
Remote work systems are slashing costs across a growing number of industries and remote employees are reaching a level of satisfaction that is reshaping the way we do business.
You may have heard about some of these benefits and wondered if they apply to your company. Chances are, they do.
Ready to see why adopting remote work could place you on the cutting edge of your industry? Let’s dive right into it.
Why remote work makes sense for your company
Adapting remote work practices brings significant, tangible benefits to your company. As time rolls by and workforces modernize and globalize, the body of research into remote work expands.
By 2025, a predicted 32 million employees in the US will be fully remote, equating to around 22% of the entire workforce. There’s no shortage of attractive benefits, which is why so many global organizations are adopting remote work principles.
For starters, businesses are expected to save $11,000 per remote employee each year, through minimizing overhead expenses and improving employee output. Companies are making the most of these savings by reinvesting in programs that boost their remote working capacities.
Productivity and engagement are also booming in the remote sector, with academic research finding a significant productivity increase as people work out-of-office. Revamped productivity means employees are getting the job done faster, and feeling better while they do it!
In short, remote work is opening new doorways for companies, and revitalizing the way teams work. Companies ready to dive into remote work are going from strength to strength, now let’s look at specific reasons why.
What are the benefits of remote work for businesses?
The catalog of benefits that remote work brings is extensive and long-lasting. Each benefit may be specific to your organizational structure. The main benefits for employers who adopt remote work include:
1. Reduced overhead costs
One of the biggest advantages of having remote workers is the potential for reduced overheads. If your team members are working from home, there are massive savings to be made on your traditional expenses for maintaining the office. You can factor in reduced costs for your rent, utilities, equipment, and supplies. Even small expenditures like coffee and snacks add up over time.
Some research suggests that businesses save an average of $11,000 per remote worker every year. On top of these immediate impacts, companies going fully or partially remote can often downsize or eliminate physical office spaces altogether.
Cost restructuring could bring huge savings to your company. One thing to consider is making sure the equipment for your out-of-office workers is substantial. If you no longer need powerful computers in the office, for example, then supporting remote workers with their own tech can pay dividends in the long run.
A leaner model is especially beneficial for small or growing businesses. If it sounds like it will suit you, diving into remote staffing could be a strategic and financially sound choice.
2. Enhanced productivity
Higher workplace productivity is something every organization strives for. It’s generally calculated by dividing the number of goods or services produced by the total number of hours it takes to make it. A simple premise made up of a few factors.
Let’s think about it. “How much time/effort does it take an employee to produce something?” This is a question running through a manager’s mind all the time. Productivity can be enhanced with better tools and better equipment, but also in non-countable ways like how staff are feeling and how engaged they are that day.
Over time, remote workers find the space and environment that works for them, and they carry out their work during their most productive hours. Don’t underestimate the power of a remote worker in finding their peak performance location and times. A Stanford study of 16,00 employees shows that working from home improved productivity by 13%
When an employee goes remote, they’ll likely find new opportunities for managing the balance between their work and personal life. When you boil it down, the flexibility and autonomy granted through remote work can help them achieve more in less time, resulting in a win-win for employees and the organization.
3. Improved brand image and competitiveness
Dismissing remote work as a passing phase could be a fatal flaw for your company. 61% of workers who can work outside of the office are choosing to do so, so remote work is here to stay.
This is increasingly true for young workers and graduates. The simple fact is, that choosing to stay away from remote work opportunities could make your job opportunities less attractive for young workers. 42% of Gen Z workers (generally those under 28 years old) would leave their current jobs for a remote work opportunity.
Companies with remote options can significantly boost your brand image and sharpen your competitive edge. Organizations with remote options are seen as more forward-thinking and adaptable for modern work practices. It’s not just surface-level attraction, young workers are expecting to join globalized remote workforces, so make sure your remote practices are prepared for them.
Stay agile and attractive in the global market. Being geographically diverse can give you a crucial advantage. By embracing remote changes, you’re positioning yourself as innovative and socially conscious, which are essential qualities in a competitive landscape.
4. Access to a global talent pool
Now we’re getting into opening the windows of opportunity. Leading on from improving the way your company is perceived, remote hiring gives you greater access to this expansive, global talent pool. No longer confined to a physical office, remote worker specializations can be used by organizations around the globe. This shifting dynamic is extremely valuable in competitive industries where specialized skills are in high-demand, so make the most of it.
With remote-friendly policies, you’re stepping into a new marketplace filled with candidates who hold new perspectives. Hiring remote staff in other countries can give you insights that you’d normally only gain from years of living in that region. Thoughts from “outside the normal box” can provide unique and innovative results.
Remote workers also reduce costs from relocating employees and expanding into new countries and continents. As your talent pool and your teams diversify in their skills and backgrounds, maintaining your company culture is important. Remote work culture is a relatively new area of study, and getting this right can lead to surprisingly positive results.
Prepare for expansion and access to a stronger, more diverse talent pool. Cast your net far and wide, and you could be attracting incredibly skilled remote workers.
5. Higher employee satisfaction and retention
As your brand image improves and you’re able to attain specialized workers from further afield, did you also know that you’re more likely to hold onto them over the long term? According to Buffer’s report, a staggering 91% of surveyed employees had a positive experience with remote work. Healthy remote work practices simply satisfy a large percentage of today’s workforce.
Think about the degree of autonomy and flexibility you’re giving remote workers. Their commute to and from the office is reduced, so time is saved. Remote workers get to work in environments that better suit them. They have access to spending more time with friends and family. It’s no wonder that their work-life balance is improving and remote workers feel more satisfied.
Remote work still holds the same potential for professional development and growth. With the right systems of progression in place, staff remain motivated to bring their A-game to the remote setting.
Increased satisfaction at work reduces turnover and improves employee retention as staff don’t feel the need to search elsewhere. Companies with healthy remote practices have loyal and engaged staff who feel a greater sense of progression.
Capitalize on how much more motivated your remote employees feel with supported remote roles. Remote work’s positive impact on employee satisfaction and retention makes it a valuable strategy for companies focused on long-term growth.
6. Lower “absenteeism”
Workplace absenteeism is defined as the practice of regularly staying away from work without good reason. It’s a pretty general and broad definition, but as a manager, you’ve most certainly seen it before. Absenteeism can form from countless factors, like staff members feeling a little unwell, having personal commitments or simply being distracted in the workplace.
Workplace distraction is certainly not something to be snuffed at, too. A survey from Global Workplace Analytics suggests as much as $600 billion a year in workplace distractions. Remote work, when properly set up, can reduce these factors of absenteeism. Greater flexibility and flexibility means remote workers can better manage their own health issues, appointments and personal responsibilities.
To optimize reducing absenteeism, make sure you’re still supporting them as best you can outside of the workplace. With the right support, staff will be less likely to need a full day off for a personal commitment. Employees who are unwell feel less compelled to call in sick or miss work altogether, so your workforce potentially becomes more consistent and reliable.
Maximize having an engaged and resilient remote team who are able to remove distractions and get into the zone. You’ll be reaping the rewards in no time.
7. Streamlined communication
Many of the overarching principles of remote work is to help streamline the organization. This can also be true of team communication. If not managed properly, a lack of communication can be one of the biggest challenges remote teams face. Remote workers, in different time zones especially, need solid communication foundations to avoid the dreaded zoom fatigue.
However, carefully planned remote team communication can be just as effective as in-office communication. It takes careful planning to overcome the challenges of remote-only communication, so make sure you’re supporting your team members with equipment and help them access steady internet connections.
After making sure you cover standard connectivity and equipment issues, you might find added benefits in storing and logging your remote communication. Discussions in-office can sometimes go amiss, that’s natural. Sometimes the best ideas in work slip you by before everyone is in attendance. Jotting notes and key ideas on a shared platform means anyone can access them at any time. Effective remote principles mean that employee work is deeply connected on Slack, Zoom, or project management software.
As time rolls by in a remote work setting, the working environment can actually promote more purposeful conversation too. Remote employees no longer drop by their colleagues’ desks, so work discussions can be more concise and to-the-point. That’s not to discourage a friendly atmosphere between team members, but they’ll naturally be more inclined to focus on work during remote working hours.
Streamlined remote communication can help your teams drill down into a project while keeping a helpful pool of resources within a fingertip’s reach for team members all around the globe. Make the most of this more organized and productive workflow.
Remote work culture is solidified on a team retreat!
When remote teams function well together, watching them collaborate is electrifying. We’ve all seen sparks fly when teams are working at their best. The most effective way of establishing a solid remote work culture is by getting them together, face-to-face, at least twice per year.
This is where we step in. Organizing remote team retreats is what we do best.
Here’s what we offer:
- Stress-free transfers? We got you! ✅
- Quality-assured accommodations? Check! ✅
- Engaging team-building activities? Our speciality ✅
- Restaurant reservations? That's on us! ✅
- Expert retreat planning assistance? Of course, we have this covered! ✅
- Onsite support, tailored to your needs? Absolutely ✅
Not only this but we also have access to 160+ locations around Europe, APAC, the US, Latin America, and now Africa, meaning the sky is your limit when it comes to choosing the right location for you and your team.
Establish a culture where remote teams work with and for one another. Powerful collaboration is second-nature to remote teams who have shared experiences. Choose a remote team retreat with us, and watch your teams touch the sky!
Let us sort out the tricky logistics for you. Spaces are very limited, so get in touch now!
