4 ways a remote work strategy can benefit your company

There are many savings to be made by having staff work remotely. (Rawpixel pic)

Working remotely offers benefits for companies, not just employees or contractors. What are some of these advantages?

First, the obvious: streamlining time and cost. But it can go far beyond that.

Remote work may stimulate the company’s innovation and momentum. According to a study by the consulting firm Meta4, remote work is capable of:

  • Reducing absenteeism by up to 60%;
  • Increasing travel expense savings by up to 56%;
  • Growing production by 56%;
  • Reducing employee turnover by 20%.

At the same time, these produce a series of advantages for companies.

1. Increases performance and productivity

According to a study by SonicWall, 76% of remote employees affirm that they are more creative at home than in an office while 26% state that they are more motivated while working from home.

In fact, the same study states that 61% of company managers have confirmed that remote workers perform better and are more productive.

These findings coincide with that of a Stanford report which affirms that work-from-home (WFH) workers increase performance and productivity by 13%, which also means an increase in profit for companies.

These figures are due to less stress from working at home and greater morale on the job. A study from PGI resulted in 82% of the remote workers surveyed reporting lower stress levels and 80% reporting higher morale.

Considering this first advantage, it makes sense for companies to hire remote workers.

2. Saves companies the expense of office space

Having in-office workers requires having facilities with capacity for the number of employees to be hired. Each worker represents at least one office in which they can carry out their activities.

Along with this requirement, one must consider the expense of rent and maintenance, custodial services, computers and other work equipment, and electricity, among other costs.

Research results can be consulted online that break down the savings level for companies that opt for remote work. One study was carried out by Forbes magazine in 2013.

With the remote work model, workers use their homes as an office, use their own computers or equipment, depend on their own internet connection and consume electricity from the service they pay for themselves, among other things.

Even for companies that absorb the cost of office equipment for telecommuters, the savings are significant on rent and maintenance.

Companies save on the cost of office space and equipment. (Rawpixel pic)

3. Offers greater recruiting possibilities

Another advantage and reason for a company to consider remote work is having more recruiting options.

Depending on the company’s location, it could be difficult to find a worker with the specific profile for a vacancy.

A company may find an ideal candidate, only to discover that the worker is not available because of distance, or relocation costs may be too high for the company to take on.

This situation is solved with remote work. The company may even go with international recruiting for the talent needed for the job. This offers greater possibilities for selecting the ideal professional for the position.

In fact, not only is it a benefit for a worker to save commuting time, it is also helpful for companies. In 2014 alone, according to a study, US workers spent 29.6 billion hours commuting to the office.

With remote work, those hours are saved for the worker, which means greater productivity for the company.

4. Attracts more talent and generates greater loyalty

Although some business executives may think that a better proposed salary will attract more talent to the company, or that a raise in salary will result in worker loyalty, the reality is that work flexibility is the most powerful stimulant for both objectives.

According to the communications company Unify, 43% of workers surveyed in a study preferred a more flexible schedule over a raise in salary.

This means that remote work is a greater incentive, since it allows workers to enjoy better labour conditions and to save time and energy in avoiding commutes, among other benefits.

Conclusion

Now that the benefits for a company of remote work are clear, it is time to think about hiring freelance professionals. Keep in mind that major companies, corporations, and organisations today are enjoying the advantages of remote work.

According to Unify, Nasa was able to save US$21 million in 2012, thanks to the remote work model. The pharmaceutical company Glaxo Smith Kline saves US$10 million (RM42 million) each year with this model.

Some companies are experimenting with a mixed model, having on-site workers and freelancers available for certain tasks. Among these are American Express, Xerox, Apple, and Dell.

Other companies are working 100% with remote teams, among them Automattic, Edgar, Hubstaff, Toggl, Zapier, Basecamp, Buffer, Doist, Trello, InVision, and Toptal.

Join this movement toward greater benefits and allow the company to enjoy the advantages of remote work. Save more money, become more effective, and increase worker productivity.

Click here to find out more about Workana to start hiring or enlisting as a freelancer.