5 Benefits of Keeping Your Team Remote

The COVID-19 pandemic has highlighted the importance of a remote workforce. Companies who have never tried this method have now been exposed to new platforms. But is it worth to stay remote? In reality, there are a plethora of benefits when having a remote team. The results would have a positive impact on your company in the long-term. When it comes to low-cost technological solutions, flexibility, and high employee morale, remote work will take off a huge burden on your back.

1. High Productivity

Numerous studies have shown that remote work leads to higher employee productivity. This is due to several factors:

• 87% of HR professionals state that employee satisfaction has gone up due to remote flexibility.
• 82% of employees reported that they would be more loyal if given flexible options.
• If given freedom and flexibility, an employee’s performance and motivation will increase.
• 39% of employees turn down promotions or quit a job due to the lack of flexible options.
• 90% of managers believe productivity increases when employees are given the option to work when and how they want.
• Having employees work at least three or four days remotely will make them stay engaged and experience less burnout.
• At least 3 hours of work are lost every day due to in-office distractions or interruptions.

Allowing your team to work remotely will make you continue to relish in these benefits. It’s important to note that this type of productivity burst is not short-term either. If you’re still reluctant to have a 100% remote workforce, you can try a hybrid function: 60% in-office and 30% WFH or 20% in-office and 80% WFH. In any case, you can always ask your employees about their thoughts. Projects that are meant to be worked on as a group could hinder or flourish if done remotely. Figuring out which departments need more time in-office or at home can increase their engagement, giving better results for your company.

2. Cost-Efficient

A remote workforce will lead your company to have greater savings than in-office. Much of your spending will be allocated to technological-based mediums for your employees. However, many team-based communication platforms like Zoom, Skype, and Slack are free. Companies will reduce or eliminate costs associated with real-estate, janitorial services, electricity, and other surplus fees. Many employees will have to use their devices instead, cutting your costs by an abnormal amount. 

Here are the benefits of a cost-efficient remote team:

• Harvard reports in their study that remote employees drove 84 million miles fewer and reduced emissions by 44k.
• In the same study, employees increased revenue by $132 million. Hiring costs are reduced, and they spent $38.2 million less on in-office costs.
• 76% of employees report that their daily commute to work spans over an hour.
• 20% of employees would take a 10% pay cut for flexible work options.
• 18% of employees would be willing to work more hours.
• Employees would save between $2,000 and $7,000 in commuting and work-related costs.
• Real estate savings from full-time telework is $10,000 per employee per year.
• A business’s revenue would increase by at least 10%.
• If the U.S. switches to remote work, businesses will save over $700 billion per year.

Overall, remote work will increase savings for businesses — big or small. Here are some companies that saved expenses with WFH policies:

• IBM’s real estate costs were cut by $50 million.
• McKesson saves $2 million a year.
• Nortel saves $100k per employee. They don’t have to relocate.
• Sun Microsystems saves $68 million a year in real estate costs.

3. Stay Above the Competition

As you know, the surge of remote workforces resulted from the COVID-19 pandemic. Before COVID-19, WFH only constituted 25% of the workforce, now it’s over 65% compared to the 35% that still work in-office. Though the transitioning was forced upon many businesses, 82% of business leaders plan to let employees work from home. Companies now seek value in candidates or employees that know how to telecommute. Keeping your team remote will help your employees gain new skills needed for the modern work environment. 

If your company introduces the flexibility to keep a remote workforce, you’re likely to find top talent when hiring. They become instantly more accessible compared to when you’re limiting yourself with a local candidate pool. Hiring costs are reduced when recruiting through online platforms. In turn, this will help you find the ideal candidate quicker.

4. Reduced Turnover

Remote work flexibility leads to increased satisfaction among employees. It also helps to reduce turnover and lost costs. Here are some reasons as to why remote work results in reduced turnover:

• 17% of employees have quit due to a lack of flexible work options.
• Harvard reports that telecommuting increases employee retention.
• 92% of employees with kids think they can be great parents and great workers if given a healthy work-life balance.
• 73% of WFH employees feel happier than 64% who work in-office.
• 73% of workers with kids at home want job flexibility.
• 90% of employees see a business with a flexible work environment as more attractive than those who do not.

Remote work empowers employees to be independent and collaborative. It also allows for a more flexible schedule. These benefits will lead to increased retention and reduced turnover. 

5. Little to No Absences 

Absences happen among workers, but 78% of employees miss work due to personal problems rather than sickness. Remote work will make it convenient for employees to situate their issues in a comfortable and appropriate environment. It helps to reduce stress from working in-office.

The same study reports the following:

• Teleworkers can continue to work when sick without infecting others.
• Teleworkers return to work more quickly following medical emergencies.
• Remote work allows them to settle appointments or run errands without losing the whole day.
• American Management Association (AMA) reported 63$ reduction in unscheduled absences.
• Unscheduled absences cost employers $1,800 per employee, or $300 billion for U.S. companies per year.

If you’re still on the fence about keeping a remote team, remember that you can include it as a perk instead. 22% of employees would forego health benefits in consideration of flexibility. Research has shown and proven that, at times, remote work tends to be more effective for both business leaders and employees compared to in-office. It will allow your company a burst in greater, successful growth!

More to Explore:

Job Search Tips For High School Students – Here 

How to Host a Collaborative Meeting – Here 

Why Taking Breaks Can Be Productive – Here 

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