A rising number of companies are turning to flexible and remote working as a strategy to improve employee satisfaction, increase worker retention, and gain a competitive edge. Flexible and remote working not only allows workers to work from the comfort of their own virtual offices, but further their careers while improving their work-life balance, which helps firms in the long run.
Employees are increasingly being allowed to work entirely from home. According to a report, 90% of remote employees intended to continue working remotely for the rest of their careers. While working remotely is prevalent among employees and job seekers, it is ultimately advantageous for businesses and can help them expand. And here are the reasons why:
Reduced Costs
As any business owner recognizes, whether you rent or own your office space, the expense of such overhead charges can correspond to a large part of your running costs. Huge savings can be obtained when a business goes entirely remote and eliminate the cost of furniture, power, equipment, and internet service. To successfully manage a remote workforce, a company may need to invest in a set of cloud-based technologies that will allow the entire team to collaborate efficiently from home. However, these technologies will be cheaper than those associated with an office setting. Every earnings saved on overhead can then be reinvested to expand the company and its employees.
Increased Work Productivity
Employees who work from home are often more productive than those who work in an office. It is because the freedom to create their own work schedule allows them to work during more productive hours rather than the usual 9 to 5 hours. Because the hours during which an individual is most productive are determined by their personality traits and lifestyle, providing a flexible work schedule can significantly boost work performance. In addition, a survey revealed that 51% of respondents indicated they are more productive working from home because of fewer interruptions and peaceful work environments.
Increased Employee Retention Rates
Flexible work is one of the most effective employee retention initiatives that businesses can provide. In one publication, 75% of employers agreed with this assertion. Organizations saw a significant drop in turnover when they offered remote work opportunities. Remote workers save money on transportation, babysitting, wardrobe, meals, and other expenses. In some situations, the employer will even cover remote workers’ home internet costs. Companies that do not provide remote work options are at a significant disadvantage nowadays. Not only are these organizations less appealing to new job seekers, but they may also lose current employees who seek remote work alternatives. Overall, the flexibility that remote work provides leads to happier and more productive employees.
Freedom of Work Location
Working from home provides access to a diverse range of job opportunities that are not geographically restricted. It is especially significant for job seekers in rural areas or small towns with few options. Furthermore, remote work is an ideal substitute to escape high-rent and high-mortgage places, particularly for careers that required residence within their office area. With remote working, employees have the freedom of location. They can either choose to work from their homes if they have a quiet environment or choose to go to co-working spaces where it is convenient, cheaper, and a more conducive place to work.
Allows for Better Work-Life Balance
Remote jobs provide flexible timetables, which means employees can start and finish their days if they choose to, as long as their work has been completed and produces positive results. Control over your work schedule might be crucial when it comes to attending to the needs of your personal life. No commuting means more time at home to recover and extra time in bed, which could mean improved sleep quality. It can benefit both mental wellness and the immune system. With this, employees are healthier, happier, more productive, and have a better work-life balance.
Indeed, the advantages of working from home have such a global influence that it is certain to become the best road ahead. Working from home can bring significant benefits for employees. However, it is also crucial to note that, with proper planning, the advantages of working from home ultimately extend to the companies that employ remote working teams.
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