The rise of the remote employee is something experts have been predicting for years. Many companies are now hopping on board to reap the benefits of hiring a distributed team. With the prominence of technology and limitless potential of communication tools, it’s easier than ever to hire the best workers for your company regardless of their location. Aside from the benefits of working out of the comfort of your home, employees and employers alike have a lot to gain from this new direction the workforce is taking.
Remote workers feel more productive
Employees that work from home are just as, if not more, productive than their cubicle-contained counterparts. Don’t believe me? A survey of Global Workplace Analytics shows that 24% of remote workers were able to accomplish more tasks in an allotted amount of time than a traditional office employee. While there are definitely distractions for remote workers, they do not have to deal with last-minute meetings, break room chats, or other unavoidable office procedures. There is also a level of accountability that remote workers feel that encourages them to be more productive than they would be in an office environment. Often times this involves employees working hours that are most beneficial to their workflow, which allows them to recognize how and when they are most productive.
With office space and real estate being the most prominent saving, companies with distributed teams can save an average of $10,000 per year, per employee by allowing them to work from home. Money spent on real estate can be reallocated towards paying for technology and communication tools to keep employees connected throughout the day. These tools will still cost significantly less than a brick and mortar office and improve employee connectivity and office culture. Things like office supplies, furniture, and utilities are also huge expenses that become significantly lessened when working with a remote team.
Not only are the businesses saving money, but the employees are cutting costs as well. Without having to pay for transportation, gas, or increased car maintenance, remote workers can save over $4,000 a year compared to employees who work in an office.
Improved employee health and well-being
Long commutes have also been linked to increased employee stress and are a leading cause of workers leaving or relocating their job prematurely to find a more convenient place to work. Not to mention, commuting has negative health implications caused by excessive sitting, heightened anxiety and decreased moods which can all impede workplace culture and overall employee happiness. After all, happier employees are more productive than unhappy employees. Loss of productivity is a huge detriment to the company’s morale and overall bottom line regarding sales, growth and employee turnaround.
Access to a global talent pool
When you’re employee search isn’t limited to one area, the talent pool opens exponentially. Companies with distributed teams have access to the best workers in the world. Their location does not have to affect the hiring process, and employers avoid costly relocation fees for the company and the worker. With start-ups and smaller companies, this is a huge benefit. Choosing the right people for your team is imperative in the early stages and limiting your search to one geographic region severely limits your access to high quality, talented candidates.
Remote teams have lower employee turnover
Employee turnover is an enormous cost to employers. The average price to replace a lost employee will cost approximately 20 percent of that employee’s salary. Not mention time spent training, onboarding and giving them time to learn the ways and culture of the company.
In a recent survey, 95% of employees claim telework has had a positive impact on employee retention and their willingness to stay in their positions.
Remote work may not work for everyone, and it’s essential to build a team that values independence, productivity, and self-discipline. You want to create a self-sufficient squad who will be able to lead a project and meet deadlines with ease, no micromanaging required. For the right companies and with the right strategies and procedures in place, there is no reason that remote work shouldn’t work to reap companies the slew of benefits of hiring a fully distributed team.