As the benefits of remote work become clearer, more companies have made the move to work partially or completely remotely. For some, this was a huge change. Many businesses could not operate in some countries that are not ready for remote work, such as Malaysia. Yet, many businesses are now realizing the benefits. You and your business can benefit from remote working for several reasons.

During the recent worldwide Covid19 pandemic, many companies were forced to embrace remote work. Even after the pandemic, remote working has grown rapidly in popularity, and for good reason. Especially in this business-oriented world, spending hours driving to a job site only to sit in a cubicle for the rest of the day can seem less than ideal.

Hence, it’s not surprising that 84% of employees prefer working remotely from home. Happy employees are productive employees. It was found that happiness relates to an almost 20% improvement in employee productivity. How exactly will they help you boost productivity in your business? Read on as we lay out the benefits further.

Is remote work better for your business?

It’s a well-established truth that having an office environment is no longer as beneficial as it used to be. More employees are looking for remote options. While the idea of having your employees work from home is not new, many organizations are still getting used to the whole idea. But companies doing it will agree when we say that this type of work has many benefits that outweigh the negatives. 

51% of employers are now allowing employees to work from home. To help you make your decision, we listed some of the benefits below.

Benefits of remote work for businesses

Working remotely is often a hot topic, both in the personal life of employees and in the business world. People working remotely are happier, healthier, and more productive than their non-remote colleagues. The benefits of remote work are plenty: more freedom in your schedule and the ability to work from remote locations are just a few. However, these are still not the main ones. It is good for your business too. Here are some of the benefits of remote work for business:

Cost saving

Although cost efficiency is one of the major benefits, it is not the sole benefit of remote work. Companies that have taken advantage of this way of working have reported improved productivity, morale, and employee retention rates. The benefits are widespread and far-reaching. 

If you’re looking to save money and improve your bottom line, one of the best things you can do is start hiring remote workers.

Productivity

Surprisingly, workers are more productive in a remote setup. In fact, 86% of them prefer to work remotely to achieve maximum productivity. 

A study by Stanford University reveals that remote workers were 13% more productive than office workers. The study also states that remote workers took fewer breaks, fewer sick days, and had long working hours than those who went to the office.

Reduction in absenteeism

Unscheduled absenteeism can cost companies as much as $3,600 per year. Imagine if your business can avoid this much of an expense by reducing absenteeism, by allowing remote work. With fewer employees out sick or forced to miss work because of family emergencies or other unforeseen circumstances, your business can save money and keep its workflow on track.

Time

We all know that feeling of waking up too late and having to rush to work in the mornings. You have to jump in the shower, get dressed, make breakfast, get your kids ready for school, drive to work, and get settled—and you’re already exhausted. 

But with remote work? Your employees can be ready for anything. Since they won’t need to travel to work, they will have more time to prepare for the day, which means they’ll have more energy to do the job. Hence, you’ll get better results.

Communication

This can be a challenge when starting to work remotely, but it gets better over time. With the proper tools and employee orientation, your business can maximize these benefits. You can also skip the trips to the meeting rooms, leaving you with more time for productive activities.

Pool of talent

Unlike in a typical office setup, where you can only hire employees within your area, in a remote environment, you can enjoy a wider choice of staff when selecting employees. 

It only makes sense that companies would want the best of the best employees to work with them. With remote work, you can hire people who live anywhere in the world, allowing you to find people with skill sets that are exactly what your company needs.

Loyalty

If your employees are happy, chances are, they won’t look for another job. Flexibility is a major stress reliever, which means fewer sick days and fewer reasons to leave the company.

Conclusion

We get it. It might seem overwhelming at first, and that’s understandable. You may zoom out a little, then check if it’s about time for your business to outsource. Once you know how remote work can benefit your company, it wouldn’t make sense not to give it a try. If you need help getting started, you may schedule a discovery call with one of our experts to help you maximize your business growth.