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As the world moves through its third year of the pandemic, remote working is here to stay as it revolutionises the global workforce forever.
Remote work has also improved some corporate aspects more than companies realise. Early in 2020, the pandemic prompted businesses worldwide to work remotely. Although many firms found it challenging to adapt, remote work at scale ultimately allowed them to continue doing business despite lengthy lockdowns and other travel restrictions.
Expanding a business takes effort. The recruitment process alone can take around a month. Within that period, companies risk losing the interests of potential candidates. If employers hire more workers, they also have to stretch out or expand their office space, which may cost them more.
With remote hiring, gone are the days when applicants take several trips to the office before they get hired. Additionally, more companies and their employees enjoy the perks of working from home.
Employers are now embracing hybrid or remote working arrangements and hiring remote workers as long-term measures to benefit the company in light of the pandemic experience. These considerable advantages consist of the following:
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Reduces business costs
Real estate is the most obvious way for a firm to save money. While much attention is focused on the expense of purchasing or renting a home, leasing office space has also become expensive.
Moreover, the cost of keeping personnel on-site comes with additional overhead expenses. By switching to remote teams, businesses can save money in several ways. First to mind are the following savings:
- Rent and utilities: Smaller office space, if any
- Cleaning services: Fewer workers and smaller places
- Food: With fewer employees, there will be less food to stock
- Taxes: Reducing office space lowers real estate taxes
Hiring remote workers also imply access to their utilities, including internet, water, and electricity. Lastly, allowing workers to work from home cuts down on call-ins (people calling in due to illness or inclement weather).
Expands talent pool
One of the problems that most companies face when hiring employees is the limited talent pool within their area, primarily due to geographical constraints.
Going remote allows businesses to access a virtually limitless pool of potential employees, boosting the chance of making a great recruit. They can identify a candidate that shares the company's values and will go above and beyond if hired rather than settling for someone who merely fulfils the job requirements.
Many employers also discover that remote work outsourcing can better fulfil their hiring objectives, whether they need to assemble a team of contract professionals for a crucial business endeavour or make permanent recruitment, such as outsourcing an accountant. With this strategy, they can gain access to talent in demand outside their local market.
Employee diversity is another benefit of a geographically distributed workforce. Diversity is a challenge for many companies, but it’s second nature for remote teams. Additionally, having a group of workers with diverse backgrounds produces some of the most brilliant ideas.
Working with people from different parts of the country or the world will allow a firm to take advantage of their varied cultural backgrounds. It helps develop original solutions to issues and is especially helpful when attempting to reach a larger audience.
Companies can fulfill their commitments to diversity, equality, and inclusion (DE&I) by hiring remote workers who enable them to collaborate with individuals from a wide range of backgrounds, experiences, and cultures. Furthermore, countless studies demonstrate that diversity enhances business outcomes.
Improves personal wellness
Before the pandemic, Metro Manila, Philippines, had the second worst traffic congestion among 416 metropolises worldwide, according to a 2019 global mobility report. When the pandemic ended the commute, it saved people, on average, nearly 11 days a year spent commuting during rush hours. That’s 257 hours employees get back to spend on whatever they like.
Employees may use this free time to exercise, catch up on sleep, or spend time with their family; either way, it’ll result in a happier and healthier employee.
Businesses also benefit from this since healthy employees may be more productive and take fewer sick days.
Improves time management
With the nature of office arrangements, employees are forced to commute from home to the workplace, resulting in inevitable tardiness and absences.
In many cases, it’s also possible that employees will be involved in unforeseen events such as accidents and excessive traffic, which exhausts them as soon as they arrive at the office.
Compared to a remote work setup, employees have better time management as they’re allowed more time to relax and set their minds for work instead of stressing over their commute. As soon as they begin work, they can maximise working hours.
Boosts productivity and efficiency
Remote workers can be more productive than office workers. When you think about it, the average office is riddled with distractions. Concentrating on the current work can be challenging when there’s so much energy around. However, when someone works from home, they may settle in and focus on what has to be done.
Productivity is also enhanced by remote work arrangements that allow employees to set their own schedules. Some people are more motivated in the morning, while others are more at night. Instead of struggling to get through a 9-5 workday, an employee may step away to recharge by choosing to take a break during the day.
Increases employee retention
Offices are slowly reopening, but workers are hesitant to return. Given how highly valued remote work has become, other employees are willing to accept a salary loss rather than return to the office. Some even say they would look for another job if they had to return to an office fully.
With a remote work arrangement, employees could have freedom and autonomy over their workspaces, whether in their homes or personal offices. Higher employee happiness, of course, leads to increased employee engagement and retention.
Working remotely not only relieves many of the responsibilities associated with traditional work. It also demonstrates how much the company appreciates its employees and trusts their ability to perform flawlessly from any location.
Saves the environment
The need for businesses to adopt greener practices is growing as environmental consciousness increases.
Employees want to see businesses follow through on their environmental objectives. It’s so important that some employees may view their companies more favourably when they take initiatives to minimise carbon emissions.
Here are some ways that employing remote workers helps a company uphold its green commitments:
- 29% of greenhouse gas emissions are from transportation. It’s the single largest contributor to climate change. Greenhouse gas contributions rise when workers get involved in traffic jams going to and from the workplace.
- Every 1% reduction in vehicle traffic reduces road congestion by threefold.
- Working from home, even part-time, might stop about 99,000 injuries and save more than 1,600 lives.
Enduring COVID-19 drastically transformed people's lives, society, and the economy to the point where businesses eliminated the traditional workplace, workforce, and work-life. Companies are attempting to add skills, yet increasing personnel isn't always the best solution. Some knowledge workers consider what work means and how it should fit into their lives.
Enhancing agility with independent professionals and allowing employees to work remotely give employers and staff what they need to go forward and be more resilient—that’s by putting people first.