4 Business Benefits of Having a Remote Team
The merits of working remotely have been reaped successfully by several conglomerates across the globe.
This win-win situation of this work culture is evident across many multinational companies.
Some companies are still wary of adopting this unconventional working style, fearing a loss of control over their employees’ productivity. These fears, however, are groundless and misinformed and proven incorrect by several research-backed studies. Some of the distinct benefits that arise from working remotely are listed below.
Boost in Productivity and Dip in Costs
The undeniable and unarguable benefit of working remotely is a rise in the productivity level of individual employees. Some key factors that prove beneficial while working remotely include the following:
- Elimination of daily work commute.
- A flexible work schedule that allows team members to sneak in for a break or rest whenever possible and work as per their convenience.
- Freedom from unnecessary office banters and politics, leading to a positive mind frame and a higher focus on work.
- The employers further save on heavy official expenses such as electricity bills, furniture cost, office rentals, maintenance teams, etc., with the team working remotely.
Accessibility to a Larger Talent Base
Remoting many operations offers the freedom to select talented human resources from any place, globally. Since geographical boundaries have no significance in teleworking, employers are benefited with a choice of selecting from a massive pool of talented individuals.
While the general office-bound work culture hinders several talented resources from applying for a job profile, remote working opens the door to a huge talent pool to come together and work as one cohesive unit. Aside from this, employers have the freedom to select people to work on a part-time, contractual, freelance, or full-time basis, as per the job requirement.
Improved Health of the Workforce
Working remotely relieves employees from several health stressors that may be associated with on-premise work including unhealthy eating habits, long working hours, reduced physical activity, anxiety, and fatigue.
The improved health of the employees from working remotely leads to further improvement in performance and productivity. The workers are motivated to perform better and earn a raise in salary, performance bonus, or even a promotion. The work performance becomes more self-driven and passionate rather than pressure-oriented or forced.
Fall in the Company’s Turnover Rate
A crucial aspect of every company is its employee turnover rate. A higher turnover rate in most cases reflects that a large number of employees have left the company in a given year.
The high turnover rate can be due to several factors such as overburdening the workers, little or no feedback on performance, limited opportunities for growth, mismanagement, and lucrative offers by competitors, among others. Allowing workers to work remotely reduces issues leading to a high turnover rate to a great extent.
Employees enjoy the perks of remote working and look for opportunities to work long-term with such a company. This not only enables the smooth functioning of processes within a company but also enhances better budgeting opportunities and higher ROI.
Follow our blog as we share the latest news and trends in employment issues, market conditions and job seeker best practices.