As discussed in a previous Fortuna BMC blog, remote work has been the backbone of our business, well before the pandemic made it necessary. We not only recognize the value remote work is for our employees, but the value it can bring to our company.
Every business that offers flexible work schedules or remote work can reap the benefits. Here are our top four:
1. Promotes well-being and increases productivity
When you remove a commute, a lunch rush, and long hours away from family and friends, you make room to reduce stress and improve the work-life balance. People have more time to do the things they love while also completing a full day’s work. When employers leave room for employees to have more time, they show they are concerned about the whole person, not just the “working” part, which can show positive benefits to both parties.
Studies show remote work increases productivity. Stanford University did a two-year work productivity study and found that productivity was equal to a full day’s work, and employees used fewer sick days and they saw a 50% decrease in employee turnover. Happy employees are productive employees.
2. Saves companies money while being eco-conscious
With more employees working remotely, there is less of a need for office space. Companies can use workspace more efficiently and save money on overhead. Desks, office supplies, copy machines, air conditioning, power usage, rent, are all reduced or eliminated, which is good for the environment. Budgets can then prioritize other expenses like payroll and technology.
Additionally, a decrease in employee turnover means you are not recruiting and training employees as frequently, thus saving money. More importantly, retaining employees builds institutional knowledge and deepens relationships. This also results in more trust, a better customer experience, and productivity.
3. Makes companies more competitive
Companies that offer remote work are desirable places to work. According to Gallup, 35% of employees would change jobs if it meant the ability to work off-site. A survey of Apple employees found that 58% were worried their colleagues would leave because of a lack of flexible work options. And 37% said they would consider leaving themselves for the same reason.
People are seeking out opportunities to work from home. When companies offer this benefit, they can attract and retain the best employee for the job, no matter where they are located. Remote work could be the thing that makes a person to choose a career move to your company.
4. National & global workforce
With the technology available, working remotely has become increasingly easier to do. This means companies can have the best employees situated anywhere in the country and the world. Working in multiple time zones can pose some challenges (like scheduling meetings), but it does allow your business to be operational 24/7. This also allows your business to provide services or products to a global clientele.
Weighing these advantages, can your business offer remote work to your employees? For all your business management needs, questions, and concerns, book a free consultation with Fortuna Business Management Consulting (BMC), a certified service veteran owned business (SVOB) and HUBZone, through our contact page.