In the wake of the coronavirus, the work-from-home movement is gaining a lot of traction. Many companies, including Microsoft, Chevron, and Hitachi are asking staff to work remotely, while businesses like Apple, Nestlé, and Twitter are limiting business travel to help keep the virus from spreading. Regardless of the pandemic, offering remote work is not just an excellent way to expand your talent pool in this increasingly competitive market, it also has so many more benefits such as increased loyalty, retention, and productivity. Clearly, many employers already know this. Given that more than two thirds of global employees work from home each week, with over half of them doing so for at least 50% of the week. At Research Partners, our 100% remote-based team understands the many benefits that come with working remotely:
First things first. Money saved is money earned and money earned increases the bottom line (but so does money saved, so either way it’s a win). Allowing employees to work from home is a real money saver for both sides of the deal. Reduced overhead costs, including office space, furniture, utilities, supplies, janitorial services, etc., allow businesses to save a lot of money. Additionally, employees could cut down on the cost of commuting, meals, and various car-related expenses.
Increased Employee Retention
In the recruitment space, we all know that employee turnover is expensive. Having a vacant role and finding, hiring, and training a new employee costs money, time, and resources. The 2019 State of Remote Work report confirms that not only would working from home make the vast majority of employees happier and less likely to leave their employer, they would also be much more likely to recommend their company to a friend.
Despite the outdated perception that remote workers lounge in their pyjamas all day, working from home actually boosts employee productivity. I’m sure we’ve all heard about the studies! Not only are remote workers less distracted, they also work over 1 day more per month on average. This comes out to 16.8 more days worked every year. It is easy to conclude that working from home allows employees to spend more time getting things done.
Reduced Stress and Increased Work-life Balance
Commuting is a significant source of stress not only on the human mind and body, but also on family relationships. Various studies point to the much higher rates of psychosomatic disorders commuters suffer from compared to those with short trips to work. Additionally, the amount of people experiencing high rates of in-office stress is overwhelming. Remove these sources of stress and you could potentially minimize the risk of a lot of physical and mental illnesses, as well as costs to the business in terms of absences, healthcare costs and employee turnover. Cutting out the daily commute by working remotely allows employees to live a healthier lifestyle, as well as spend more time doing the things that they truly enjoy such as spending more time with their families, which makes for an improved work-life balance.
Location can often be a barrier due to personal or health circumstances and remote work expands accessibility. It provides an open door for people with chronic illnesses, for example, allowing them to work when their minds are healthy, but their bodies won’t cooperate. Remote work can also be extremely beneficial for military spouses, veterans, and the senior population.
In addition to the benefits outlined above, working from home is also a way to reduce negative impacts on the environment and to create a more sustainable way to work. To Research Partners, this is one of the most important benefits related to remote work. Using less gas and reducing commuting-related greenhouse gasses immensely adds to air quality savings. According to 2017 data from Global Workplace Analytics, to replicate the reduced greenhouses gasses from remote workers in the US currently, it would take the planting of 91 million trees to offset the same level of emissions.
The benefits of remote work run much deeper than keeping a virus from spreading. Technological advancements have contributed immensely towards distributed teams and many major businesses, such as HubSpot, Google, Toptal, and Cisco already take advantage of a (at least partially) remote workforce. If you are looking to expand your off-site team, let us help you get there faster with our talent mapping services.