The modern workplace is an ever-evolving space that changes all the time. When the pandemic hit near the beginning of 2020, many companies were forced to shutter and close their offices. Though offices were closed, operations kept on because those companies were nimble enough and prepared to send their workforce home to continue working remotely. Remote working has been around for a while now, but many companies were reluctant to allow employees to do so for a variety of reasons. The pandemic changed a lot of opinions on remote work, and now companies that were previously against the practice see the value in it. The benefits of a remote workforce were laid bare for all to see at the beginning of 2020. In case you missed it, here are a few of them.
An Increase in Productivity
Remote employees continually report that they feel more productive at home, in their own space. The distractions of the office are removed, and they can work harder and concentrate better. Offices are a minefield of distractions; from the chatty coworker to long lunches and afternoon cake parties, it is possible to go an entire day without doing any work. There is a desire for remote workers to not kill the golden goose, so they tend to work harder so they can remain working remotely.
Reduction in Overhead
Overhead is the cost of doing business. It pertains to the fixed costs that are necessary to keep things running. Expenses like rent, electricity, paper costs, and coffee are all monthly costs and part of doing business. Those costs are reduced if there are fewer people in the office consuming resources and space. Companies can get away with smaller offices with fewer people reporting to work every day. The company’s used meeting room chairs, desks, and filing cabinets can be sold and added to the revenue stream. The cost savings will rise with a remote workforce.
Deeper Talent Pool to Choose From
Traditional offices are limited to the talent pool they can draw from. They are dependent on local people who can make a reasonable commute to the office. There is, of course, recruiting available to larger companies looking for top talent. With a remote workforce, smaller companies can access talent from all over the world. There are no geographic limitations on a remote workforce.
Higher Employee Retention Rate
Employees who work from home are generally happier with their jobs. Happy employees stay with their jobs and don’t look for new opportunities. The retention rate of a company is a direct reflection of how healthy the company is and how happy their employees are. If there is high turnover, then employees are dissatisfied and leave. Replacing workers every year is not good for business, morale, or the image of the company.