- January 17, 2020
- in Future of Work
- by Andriana Moskovska
The Quick Guide to Remote Work
A long time ago, in a galaxy not so far away, working remotely used to be an option reserved only for elite employees. It used to be a ‘perk’ that was enjoyed by high earners and select employees in a company.
To be in this enviable position where you got to sit at home in the comfort of your pajamas, bagel in hand and coffee at the ready, all while working on serious company projects, was something that many saw as a dream that might never be reality.
But now, thanks to the speed at which technology has developed — as well as the progressive policiesof employers— remote work is not only a mere possibility, but is on the rise. The amount of remote workers around the world has grown by 115% in the last decade alone.
The boom in remote work has been spearheaded by both the needs of employees across the world and the continued findings of employers — findings that reflect the numerous benefits that come from from having remote workers as part of their workforce.
The benefits of a remote workforce for employers include:
More hiring options. Having unrestricted access to an international talent pool opens up a myriad of hiring options for companies. Where companies once had to contend with limited employee choices and were forced to offer pay scales that conformed to national norms, they now have huge flexibility in the remuneration packages they can offer and have access to global markets.
Saving money on office space. Leasing office space is a cost that impacts businesses of all sizes. Being able to save on, or even forego, office space costs can make a significant difference to a company and its potential future.
Higher employee retention rates. In an ever-expanding job market, employee retention has become more of an art form and skill nowadays. Once upon a time, employee retention was a valuable— but not essential— endeavor; it was an investment choice. But in today’s job market, where people have a more global choice of working options, employee retention is less an option and more of a necessity. Offering remote work options can be a powerful tool in the construction of a company and its retention strategies.
The advantages of hiring remote workers, combined with the willingness of employees to work remotely, have caused a surge in the number of remote workers around the world. If you’re unconvinced, simply go to any coffee shop in the middle of the work week during the afternoon — you’ll be amazed at how many laptop users there are not simply surfing the web, but actually working.
Being “at the office” doesn’t actually require going to a physical office space any longer. This is emphasized by the fact that more people are working remotely, as well as the fact that an increasing number of companies are opting for numbers of remote employees that can comprise up to 90-100% of the workforce. The biggest reason for this is the significant cost savings that a company can achieve with an entire remote workforce.
The largest of these cost savings comes from negating the need to purchase or rent office space, as mentioned above.
Why Do People Champion Working From Home?
According to reports, 83% of entrepreneurs state that working remotely has significantly boosted their productivity. Astoundingly, over 60% of employees said that they would leave their current position in favor of a remote position at the same or even slightly lower pay scale!
Why would people want to work from home? Some of the benefits for workers include things like:
Lower stress levels: Over 82% of all remote employees have been reported as exhibiting much lower stress levels than office-based workers.
Quality sleep time: 45% of remote workers report getting better sleep. This makes them sharper and more mentally refreshed, which automatically leads to increased productivity levels.
Positive mindset: 44% of all remote workers have described their general attitude as being positive. This number is significantly higher than that of office-based workers.
The figures above are just the tip of the iceberg when it comes to the benefits enjoyed by remote workers. The pros of not being tied down to a desk are generally enticing, and should not be overlooked by anyone seeking a new role.
Employees love remote work because of the numerous benefits that it offers them. If employers want to stay competitive, current, and hold an effective position in their market, they would be smart to increase the number of remote work options. By doing so, a company can save money and also become an attractive prospect for potential employees — making remote work an absolute win-win situation for both parties.