15 Unique Benefits of Working from Home for Employers
Given the attention remote work has garnered in recent years, many employers have wondered if working from home could benefit them as much as it helps their employees. There must be a reason why notable companies like Coinbase, Shopify, Siemens, and Twitter have adopted a remote-first policy. Recently, Facebook's CEO announced that half of Facebook may work remotely by 2030.
Remote work has been gaining unprecedented momentum since the first wave of the pandemic hurled the world into working from their homes. Many employers and employees who had never entertained the idea of remote work experienced it for the first time and got hooked on the idea of not living the 9-to-5 life anymore.
As COVID recedes, many companies are torn between whether to continue remotely or go back to offices. So, let’s look at some of the benefits of working from home for employers.
1. Lower Operating Cost
Lower operating costs directly influence the profitability of a company. According to Global Workplace Analytics, a standard employer can save up to $11000 annually for each worker who works remotely for 2-3 days per week. Remote employees significantly affect this cost mainly because you’re not spending any money on office rent, supplies, and utilities.
2. Higher Employee Retention
Replacing employees is costly. It can cost the company 16% to 213% of an employee’s salary. Prominent issues that trigger employee churn are:
- life-changing events,
- and low job satisfaction.
Thanks to the flexibility of remote work, many employees are in no hurry to switch jobs.
3. Less Absenteeism
Remote employees don’t face mobility barriers. Hence, the company can see 63% less absenteeism with remote employees. If you’re working from home, you don’t need a day off because your doorway is blocked by snow. As long as there’s electricity and internet, and you’re fit and healthy, you can work or alter your schedule.
4. Employer Branding
Employer branding is the preference of 60% of companies. A positive image is crucial for businesses in today’s market as customers are becoming more conscious of morals and ethics.
A remote-friendly or remote-first approach makes you stand with progressive, tech-savvy, and environment-friendly organizations. It paints the picture of an ethical company that emphasizes work-life balance, employee wellness, and decreased carbon footprint rather than profitability and ROI.
5. Possibility Of Round The Clock Work
Choosing to go remote means you can operate your business 24/7 since you can hire talent from across the globe. Customer service is an excellent avenue that can benefit from the continuous presence of a support team consisting of remote workers. Similarly, for international projects, it's particularly beneficial to have a team that can operate round the clock. Toptal is one of the well-known examples of a robust remote workforce dispersed across the globe.
6. Bigger Talent Pool
Remote work has propelled employers to scoop up the top of the talent pool. Almost 48% of the employers experienced expedited talent acquisition while recruiting remotely. Location independence allows companies to cast a wider net and acquire talent from anywhere in the world. It’s especially advantageous for small businesses as they can get professionals with the right skills without breaking the bank.
7. Quicker Onboarding
Virtual onboarding is consistent and effortless since you need to create the process and supporting material only once. It also saves a lot of time wasted on paperwork, following up, and performing repetitive tasks. Virtual onboarding can be set up quickly, and according to a NovoEd survey, 79% of participants reported better outcomes from virtual training than in-person learning.
8. Lower Recruitment Cost
Hiring remote employers costs less because the recruitment process is often simpler. There’s less paperwork such as printed contracts, agreements, etc. Everything is shared electronically, saving time spent printing, organizing, distributing, and collecting.
Usually, remote employees have extensive portfolios or client testimonials which make screening easier. You may need fewer interviews or skip them in favor of test trials and verified references. Many processes can be automated to save time further, thus reducing recruitment costs.
9. Pre-Trained Employees
Remote employees don’t usually require extended training sessions after you hire them. Since you can pick and choose from the global talent pool, you can select a person with the right mix of skills. You don’t need to subject them to tedious training after hiring them.
Work Performance Advantages
10. Increased Productivity
About 85% of businesses agree that productivity has increased due to greater flexibility, allowing employees to work from home or office as they please. Many employees feel more productive working from home because they don’t have to indulge in workplace politics, long coffee breaks, idle gossip, etc. Due to asynchronous communication between remote employees, distractions reduce.
11. Improved Creativity
Remote work reduces stress and boredom due to office monotony. A relaxed mind allows ideas to flow and showcase full creative potential. CoscoCloud survey states that 77% of the employees feel more creative when working remotely. So, when an employee can say goodbye to the 9-5 routine and the office dress code and get to work from anywhere, their creativity may get a boost.
12. Reduced Stress
A survey by Mental Health America revealed that 77% of the respondents believed flexible work would help them become healthier. The daily 9-5 grind with stressful commuting and office politics can leave you and your employees in low spirits.
Being physically removed from each other can dampen the office toxicity, if any. Since the team uses company communication channels, office politics and gossip-mongering can also dwindle. Naturally, the stress level of the entire team comes down, allowing you to lead and nurture your team in peace.
13. Improved Work-Life Balance
Being a remote employer, you can enjoy a flexible work schedule that suits your lifestyle. You don’t need to squeeze all your commitments between 9-5 but can set your appointments at your preferred time. As a result, you can focus on your private and professional life without sacrificing one for the other. According to the Owl Labs survey, 83% of the respondents were better able to manage work-life conflict after they started working remotely.
14. Impact On Physical Health
Instead of being confined in your office for the greater part of the day, remote work allows you the flexibility to include healthy physical activities in your routine such as walking, cycling, or choosing some light exercises using gym equipment to form a simple daily practice. The time spent commuting to and from the office can be utilized for self-care. Instead of rushing out the door every morning, you can sign up for an aerobics class or do Zumba. Even if you don’t include a fitness program in your routine, a CoSo Cloud survey found that almost 35% of the people were capable of getting more movement while working remotely.
15. High Employee Satisfaction
A company can stand tall only on the shoulders of happy and satisfied employees. Remote work saves both time and money for your employees as they can exercise more control over their lives. The money that otherwise would’ve been spent on commute, formal wear, and office lunches can be spent having fun with family or paying off college debts.
Remote work is the new normal, and for companies to progress in the future, they must consider its benefits. The corporate sector is evolving, and employees prefer progressive organizations that offer flexible choices. Ultimately, working from home benefits employers directly and indirectly through satisfied employees and positive company culture.
Karli is a content marketer and founder of content marketing and SEO collective Wild Idea. With over 10 years in the marketing industry, she’s worked with brands large and small across many industries to grow organic traffic and reach new audiences. She writes on everything from marketing, social and SEO to travel and real estate. On the weekends, she loves to explore new places, enjoy the outdoors and have a glass or two of vino!