When the COVID-19 pandemic struck, many people began working remotely to avoid becoming infected with the virus. They did it out of necessity. But companies and workers are seeing that working remotely has a number of advantages in addition to keeping healthy – benefits that can help to boost the bottom line.
One study found that companies can save as much as $11,000 a year per employee by allowing them to work from home half of the time. Here are a few more advantages for businesses from transitioning to a remote workforce.
- Saving on overhead
If you have a workforce that is fully remote, there is no need for a brick-and-mortar building. That is a huge savings in itself. You also save on all of the associated costs of having a building – utilities, rent, maintenance, and parking, to name a few.
You also don’t have to worry about furniture, desks, and computers.
- Fewer absences
Working at home offers employees greater flexibility to take care of personal matters without having to take off from work. If a worker needs to attend an event at his or her child’s school, for example, he or she can go to the event, return home – and possibly work beyond “normal” work hours – without having to ask for a half-day off from work.
If a worker has a mild illness, a cold for example, they are more likely to get work done at home, rather than taking time off from work out of fear of spreading the illness to coworkers.
- Greater productivity
Research has shown that employees who work remotely are more productive than those who work at the office. They don’t have to take the time for a morning and evening commute. They don’t have to deal with the interruptions that are common to office workplaces.
People working remotely usually work longer hours than those who work in an office, and they enjoy the work more. Because they have greater flexibility and freedom, they are happier in their work, and this positive outlook increases productivity. One study has found that happy workers are 13 percent more productive than those who are not.
- Less turnover
Lower employee turnover is another fringe benefit of having a more satisfied workforce. Because those who work remotely are happier in their jobs, they tend to stay in them longer.
This can save a company a lot of money. Hiring new people is expensive, as much as $4,000 per person. Plus, there is the time involved. You need to advertise jobs, review applications, schedule interviews, and onboard the new people, along with any other training that is needed.
Moreover, higher turnover can have a big impact on productivity. When people leave, projects are interrupted. New people need to brought up to speed on what is being done.
Managers also like remote workers: 79 percent of them in a 2019 survey said that remote it’s a great “non-monetary” way to retain employees. Moreover, remote workers say they are more likely to stay with their current companies than people who do not work remotely.
Humans are social creatures and about six months into a lot of remote working, some employees are saying they look forward to returning to the office, at least part-time. But most are saying they don’t want to return full time.
The next few months will really show how much your workers do – or don’t – want to work from home but if you’re wondering if a fully remote workforce is the right move for you, there definitely some financial benefits to it.
Whether you decide to keep everyone working remotely or you want them to return to the office full time, the recruiters at Helpmates can help you source, vet and place terrific workers. Contact the Helpmates branch office nearest you for more information.