Benefits of remote work – do you know them all? What are the advantages of remote working for companies and their employees? There is a prediction that in the future most of the office workers may temporarily or long-term work remotely. Read the article, and find out why.
Remote work benefits – table of contents:
- Remote work – predictions
- Less distractions – productivity increases
- Loyalty is essential
- New possibilities
Remote work – predictions
A survey report conducted in 2022 by Owl Labs suggests that in the global context 16% of companies already work remotely. The same tendency was spotted by the Growmotely platform, which posted its survey directly to representatives of companies.
Interestingly, 76% of the respondents predict in their reply that remote work will replace traditional work models. In the article below we aim to present 4 main benefits of remote work both for the businesses and for their employees.
Less distractions – productivity increases
Individuals working from home perform their duties with a high degree of accuracy and effectiveness – the results of ConnectSolutions’s survey confirms. The research shows that almost 80% of remote workers were able to complete 30% more tasks than usually in their regular time.
This state of affairs brings sizable savings to every business, while from the perspective of employee large amount of finished tasks means higher compensation and financial rewards.
Office work generates specific limitations influencing efficiency such as: office conversations, numerous meetings, lengthy conferences, disturbances, multitasking, and bad logistics, and all those factors influence negatively typical schedule of the day. This is the reason why so many surveyed home workers managed to demonstrate so effective usage of their time.
Here it’s worth to mention about the research on remote work made by the Airtasker portal. Though the model of remote work gives an impression that the employees’ commitment declines while during teleworking, the Airtasker’s report demonstrates that in reality the average employed remotely individual managed to work monthly 1,4 days more and yearly 17 days more!
The benefits of remote work for business are obvious – increased productivity leads to prompt completion of ongoing assignments, faster acquisition of clients and as a result brings commercial success for the whole enterprise.
Financial savings are another factor influencing positively the quality of work. It is worth to mention that economically work means not only earnings but costs as well. Costs of travel, parking tickets, car rentals, costs of meals, costs of appropriate clothing – all this lowers down monthly payment of each employee. The overall conditions of remote work may help to decrease expenses aforementioned above. Data presented by Global Workplace Analytics show that 36% of asked employees think highly of perspective of remote activity and value remote work more than a pay rise.
Organization of work brings opportunities for savings and investment on many levels to all businesses. Usually, companies have to pay all the costs and charges associated with the maintenance of their properties: electricity and water bills, internet charges. They have to purchase all necessary office supplies, furniture, devices and appliances for rest rooms and kitchens. IBM, where reduction of cost of maintenance reached 50 million dollars is a great example of this issue here.
The scale of this phenomenon was evaluated by Flexjobs portal – and numbers given in their report amaze. Accordingly to the estimations made by Flexjob remote work during the pandemics generated for American enterprises even 30 billion dollars in cost savings.
As we see there is many benefits of remote work. Companies save their money, while effective work schedules of their workers bring even more profits reflected in the business’ budgets.
Loyalty is essential
Remote work gives possibility to create strong relations between the employee and the employer. Employee adapts his working schedule to own individual preferences and abilities, while flexibility offered by remote work helps to build trust and reinforce existing bonds between the individual and the institution. Remote work brings broader sense of fulfillment and greater satisfaction to the employee and this is a huge value for every business. Why is that so?
The cost of hiring and on-boarding a new employee is high and encompasses many elements such as: recruiting, health checks, background checks, pre-employment assessments, and training. The final price of finding the right individual is much more than the salary of the employed individual and it may include various expenditures on furniture or equipment. Integrating a new employee into the organization takes time and it means costs as well.
Remote work gives companies enormous potential for optimization of their staff acquisition processes. It is not a secret that recently almost half of the companies have difficulties with recruitment of new employees. The possibility of remote employment removes all the barriers related to location or residence of the potential candidates for work. Teleworking means that companies gain access to a vast number of professionals previously unreachable.
With the remote work opportunities it is easier to find individuals, who match the requirements of the company, hence the problem of constant lack of experts is eliminated. Most importantly, the person employed remotely may already possess needed qualifications and training – again relief for the budget of the company.
Remote work has now become a reality for most businesses which are focused on their goals and objectives. The research and surveys suggest that this new style of co-operation brings benefits to all parties.
Read also: Remote working tips for HR agencies