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Gone are the days when people thought remote work was a future trend. Today, it is here to stay, and the benefits are increasingly proving to facilitate both the company and employees. Hiring remote employees is beneficial in many ways. For example, increased productivity, better work-life balance, and a motivated workforce are some of the advantages.
This article will explore 7 ways a company can benefit from hiring remote workers. The benefits wheel around both the employer and the employee:
Increased Productivity Among Remote Team Members
Research shows that people work better when they are in a peaceful environment. 70% of US offices are open office floor plans, and businesses lose $600 Billion a year due to distractions. It is uncertain how much more productive remote workers are than in-office workers.
According to Tiny Pulse, about 91% of homeworkers state that they get more work done when working remotely.
When employees get the flexibility to work from anywhere, they become better at working on deep concentration tasks. This, in turn, leads to a higher quality of work and more relevant results.
Lower Operating Costs for Your Business and That of the Employee
From office rent to driving allowances to health care costs, the remote work model offers companies the flexibility to focus on their unique point of sale. This helps them save money that they would instead have been spent to accommodate the needs of working in a traditional office space.
While workers are craving flexibility in 2022, companies that have taken this need into accountability have seen a translation to better mental health, less anxiety, and reduced depression levels for their employees. This has, in turn, saved them the cost that they initially spent on health care.
While it is evident that companies save big from the remote work model, employers are also great beneficiaries. For example, many remote workers have reported saving more with the commuting headache taken off their plate.
Furthermore, they have reported reduced stress, anxiety, and depression which translates to less to no money spent on medication related to such illnesses.
At the same time, it is essential to understand the remote vs office expenses. Understanding this relationship allows the employer and the employee to have clear expectations.
For example, some companies commit to paying for the equipment and internet, while other companies have a BYOD policy. While remote work provides flexibility, the company must set clear expectations for the employees. You don’t want to start a remote team then get stuck because your employees have different expectations.
In a Cisco study, 89% of businesses already allowed their employees to BYOD as of 2013. By doing so, companies can save an estimated $3150 per employee per year – that is plenty of savings.
Remote Work Reduces Turnover Rates
Employees feel less trapped in a location and less stressed overall, which helps reduce turnover. One of the biggest challenges is finding and retaining good talent for many companies. According to Crain’s New York Business, several companies have reported that their turnover rates have decreased significantly once they offered remote work options.
The cost of hiring and training remote workers can offset some of the savings of outsourcing, but increased retention rates can much more recover for those costs.
In today’s economy, businesses that do not offer remote work opportunities have difficulty competing with the companies that do. These businesses have difficulty attracting new job seekers, but they also have difficulty keeping their existing employees looking for remote work opportunities elsewhere.
Remote Work Allows You To Access a Wider Pool of Talent
When you limit your workforce to a specific location, you may miss out on the most qualified candidates. For example, some companies now require that their employees be able to work remotely because employees today expect flexibility.
The social and technological changes that shape the expectations of younger employees are shaping the rise in remote working. The younger generation is used to easy communication across the globe. To appeal to young, highly skilled talent, employers need to provide opportunities for remote working, as flexibility in the workplace is one of the most important factors for millennials.
Remote Work Enhances a Motivated Workforce
When companies embrace worker needs and offer benefits such as flexibility, there is an unpretentious achievement of peace of mind. This allows workers to be motivated to work and match their employer. When there is motivation, there is excellent coordination, and employees tend to prioritize the company’s needs.
Working remotely can be an empowering and confidence-inspiring opportunity for employees, emphasizing a company’s faith in their ability to succeed alone. And, it gives them the freedom and flexibility to work from pretty much anywhere.
Remote Work Model Reduces Time Theft
Research reveals that, on average, employees waste over eight hours per week on non-work-related activities; that’s 20% of their time wasted! With remote workers, billable hours are only the hours spent working on projects.
In addition to visiting social media sites, employees at the office use mobile phones to visit sports sites, play mobile games, shop, or go to entertainment sites.
Hiring Remote Workers Is Cost-Effective in Terms of Labour Cost
According to Indeed, a virtual assistant from the Philippines earns an average of $495/month. Compared to the United States, a virtual assistant makes an average of $4,188/month. It is evident that companies that hire remotely get the same or more quality services while cutting immensely on labour costs.
Hiring Remote Employees - Conclusion
It is undoubtedly clear that hiring remotely is beneficial to both the company and the employer. At the same time, you might be wondering, what about a reliable workforce! How do I access it?
In that case, our experts have curated intelligent ways to help you access top-notch talent from the Balkans. They even share why Top American Companies Prefer Hiring in the Balkans.
It is important to remember that as much as remote work is beneficial, you must use the right tools to land the best talent in the market. At Balkan Hire, we can help you find the right talent. We take the time to source, train, and repeatedly test the credibility of the talent we hire – you only get access to the top 1% of remote workers from the Balkans.
