With the rise of rideshare apps, on-demand grocery shopping, and same-day shipping, it’s understandable that technology and the logistics of moving goods around are easier than ever before. But while technology and business trends have helped make remote work easier, one of the biggest reasons companies are embracing this way of working is because it benefits them.
For starters, remote work shaves costs. Since companies can eliminate unnecessary office costs like rent and utilities and are instead paying employees from the profits of the company, employees who work remotely can participate a little more in profits. In addition, being more productive means, you complete more work in less time, and that means you complete more tasks, which means more profit for the company.
Remote work is nothing new. In fact, it’s been around for centuries. Today, remote work isn’t just a project for tech companies—it’s become a popular way for companies to attract top talent, increase employee retention, and reduce overhead costs.
Companies are getting more on board with the idea of remote work. Some see remote work as an opportunity to cut down on costs, while others see it as a way to get employees to work harder and smarter. Whatever the reason, remote work is on the rise, and companies have been adjusting their systems accordingly. In this article, we’ll take a deep dive into why companies love remote work.
Millennial Coworkers are tech savvy
Remote workers are tech-savvy. They are more tech-savvy than workers in local companies. They are comfortable using technology to communicate and perform their work, making them valuable assets to companies. Remote workers can efficiently work from anywhere, and this makes them suited for jobs that require travel.
Remote workers are more productive
Remote workers are more productive for several reasons. First, remote workers feel less anxiety about their work. They are free to worry less about what others think about them. Second, remote workers can work from home, which means they do not have to commute. Third, remote workers working from home do not waste time worrying about parking. Fourth, remote workers do not have to buy lunch. Fifth, remote workers do not have to pay for gas. Sixth, remote workers do not have to pay for parking. Finally, remote workers are more productive because remote workers can focus.
Fewer staff required
The biggest advantage that remote working has for organizations is cost. As a result of less staff required for remote work, organizations save money. Fewer staff required for remote work also decreases the workers compensation claim costs. Employees working remotely don’t have to travel. Distance travelled by employees is reduced by 50%. Time spent on travelling for work can be reduced by 80%.
Reduce overhead costs
Because remote work can be done anywhere, it reduces overhead costs. Remote work is not only cost effective, but it saves the company money over time. Remote work also eliminates the problem of high office overhead costs that are associated with executive suites and conference rooms. Remote workers can work from anywhere, as long as there are good, high-speed connections.
Reduce real estate costs
When employees work from home, a business can reduce its real estate costs. Businesses can maintain their real estate costs by not having to rent space for offices. This reduces a business’s real estate costs. Also, a business can save on real estate costs when employees don’t have to travel to work (offices, cars, gas, etc).
Reduce office expenses
Remote work saves money. Reducing employees’ office expenses is a strategic way to lower overhead. It is also ideal for companies that want to save money. Saving money means keeping office space expenses to a minimum. Consider hiring employees who work remotely. Those who need access to certain documents or equipment can still work from home. Remote workers have fewer expenses than employees who work within an office. They also have fewer expenses for commuting.
Reduce employee costs
Remote work can reduce costs in a number of ways. First, remote workers, by definition, are busy and productive. They don’t need to be held to the rigors of a traditional work schedule, meaning they don’t need to show up at the office to clock in. Remote workers also don’t need to be on the premises. They can work from anywhere from their home, a coffee shop, a co-working space, the library, or the beach.
Remote work can also eliminate the need for an employee to work on-site. This reduces the cost of office space, location, and overhead, as well as transportation expenses. Second, remote work can reduce an employee’s commuting costs.
Reduces employee turnover
For businesses that want to reduce employee turnover, remote work can be a great option. Remote work allows employees to work from anywhere, and does not require employees to be in an office. It also allows employees the ability to work from home, or anywhere else that is comfortable. For example, an employee might choose to work from a coffee shop or other local establishment. Let employees have more flexibility, work with greater freedom, and enjoy a better quality of life. Some workplaces even have employees work remotely from home.
Remote workers are more engaged
Remote workers have more engagement than office ones. Remote workers tend to feel part of a larger organization, and with immediate access to everyone, they are kept up-to-date on company news and policies. Remote workers are also more engaged when it comes to feedback and recognition. Hearing about the success of others gives them more confidence in their own work.
Better employee retention
Remote work may be ideal for staff retention, in that you can spread out your workday to see your children, watch sports, or spend time with family. You’re also less likely to get burnt out and quit. Remote work also provides a better work-life balance because of the freedom you’re afforded. Because you’re not limited by your physical location, you can work when it makes sense for you.
Better work-life balance
Remote work gives employees more work/life balance. These days, people work longer hours than previous generations and that experience has caught up with us. By allowing employees to work remotely, employers are providing opportunities for travel and flexibility. Employees can balance work, family, and other obligations without having to worry about having to be in a certain place at a given time. It gives us an opportunity to spend time with our families and loved ones, and we get to enjoy our hobbies.
Remote work allows companies with multiple locations to work as one
Remote work allows companies with multiple locations to work as one, regardless of where they are. With remote work, employees can be a part of an organization no matter where they are located or what their work schedule looks like. Employees can get work done at any time of day or night, which is valuable in terms of being able to tackle problems ahead of time. Remote work also benefits both employers and employees. Employees are able to work when they want, rather than when their employers want. They also get to enjoy greater flexibility, such as being able to start and finish their work days on their own terms.
In summary, remote work has become increasingly popular, especially over the last few years. Companies find that remote workers have an increased attention span, which helps improve productivity. As technology improves, companies will become even more attracted to remote work. Remote workers aren’t just the future of work, they’re also the future of high growth companies.