As the pandemic emerged, businesses were required to adapt to remote working. Although old-school businesses were somewhat resistant to this new normal, there was no other way to combat the challenges of the pandemic.
The trend of people working remotely continues even after the pandemic, with more firms embracing an agile, work-from-home employee base. In this article, we’ll break down some of the reasons old school businesses now prefer work-from-home schedules for their employees.
1. Greater productivity
Many studies show that employees working remotely from home are more productive than their office counterparts. With fewer social distractions, employees are able to focus all their attention on their work. The flexibility enables them to re-energize themselves and perform better by taking necessary breaks. For example, a short video conference on the internet is more effective than tailoring the entire staff to a conference room for a 10 minutes briefing.
2. More efficient communication
A multitude of online project management solutions has been introduced to make remote working easier. These tools allow businesses to keep everything in one place that’s accessible to everyone. From video conferencing apps to digital workplace software, the remote work ecosystem is equipped with a wide range of tools that enable efficient and effective communication.
3. Cost savings
Remote working allows businesses to reduce overhead and save money on taxes. With most of the employees working from home, a company can save money on utilities, office supplies, gadgets, work desks, etc. A company’s tax burden is determined by payroll, property, and sales.
In the United States, companies can save up to $11,000 per employee annually by allowing them to work remotely half of the time. Online casino operators, for example, don’t have to pay as much tax as their brick-and-mortar counterparts with no work-from-home employee base.
4. Reduced turnover
Working from home allows employees to achieve a better work-life balance, which in turn increases their morale and job satisfaction. Remote working enables employees to work in their comfort zones: they can wear whatever they want, take breaks when needed, and customize their surroundings according to their needs.
While working remotely, employees don’t feel micromanaged and develop positive feelings toward their employer and the company’s leadership. A 2017 State of Remote Work report by Owl Labs shows that companies with a work-from-home employee base have a 25% lower turnover rate than businesses that do not allow remote working.
5. Wider talent pool
Remote working enables companies to access global talent pools and hire a more diverse workforce. Without any geographical constraints, companies can hire employees with the exact skills, personality, and experience needed for a position and consequently save on training. It also helps businesses innovate by bringing in a conglomerate of perspectives, ideas, and attitudes.
6. Reduced absenteeism
An employee who’s a little under the weather is more likely to keep working if they are working remotely. They can take breaks when needed and get at least some work done. Employees that have to travel to their workplace are more likely to call in sick. The same applies to time off for events and personal engagements. Remote workers can easily structure their day around their work without taking the whole day off.
7. Office politics
From startups to medium-sized companies to multi-million dollar corporations, office politics pervade every business. Businesses suffer greatly when negative office politics begin to run through the workplace.
In an in-person working environment, employees are more likely to get politically motivated and bypass the chain of command to achieve their targeted objectives. Organizational politics cause employees to doubt the attention of their colleagues and can engender a hostile work environment. Remote working greatly reduces both office politics and office gossip, allowing employees to spend their time productively.