Why Remote Working is a Win-Win For Both Employers and Workers?
We’re all familiar with the 9-5 office lifestyle. It’s the traditional working model that has been in place for many years. But recently, there has been a significant shift towards remote working. Employees who face traffic, long commutes, and expensive city living costs are seeing the benefit. At the same time, employers are also benefiting from a more productive workforce.
For employers, another great perk of remote work is the ability to hire the best talent from anywhere in the world. So, it’s really a win-win situation for both employers and workers.
However, the benefits don’t end here. In this article, we’ll explore some main reasons remote working is a win-win for everyone involved.
Benefits of Remote Working for employees
There are plenty of benefits of remote working for employees, such as:
The most prominent benefit of remote working is the increased flexibility it offers. Employees can choose when and where they want to work as long as the work gets done. This is also great news for parents who need to pick up their kids from school or for those who simply don’t like getting up early in the morning.
Moreover, with many people now working remotely, there are plenty of options for finding a suitable workplace. If working from the same bed, table, or location haunts you, pack your bags and go outstation. Whichever location you choose, you’ll find a coworking space there where you can work on your own terms. You won’t have to worry about Wi-Fi, coffee/ tea, or even security. Isn’t it a great way to work and live?
No need to commute
Commuting is one major pain point for office-goers. It’s time-consuming, tiring, and often stressful. According to a study by U.S Census Bureau, the average one-way commute in the United States increased to a new high of 27.6 minutes in 2019. This totals 55.2 minutes to commute to and from the office. Furthermore, the report suggests that the time can be longer in major cities where traffic management is poor.
However, with remote work, you can say goodbye to your daily commute. You can work from anywhere – your home, a local café, or even while traveling. So, you’ll save time and money that you would otherwise spend on gas or public transport.
Imagine working from your favorite spot, listening to your type of music, and wearing what’s most comfortable for you. Working in an environment with a touch of your personality can do wonders for your productivity. As per a study by Stanford University, employees who work from home are 13% more productive than their office-based counterparts. Therefore, this misconception that people working from home are lazy or not effective enough can be deemed inaccurate.
Productivity increases because remote workers tend not to be interrupted and they have more control over their environment. When you work remotely, you can create a space that suits your needs and helps you to focus on your work. This is something that’s not always possible in an open-plan office. However, a coworking space can help you increase your productivity because it provides you with the freedom to customize your space. That’s one reason why many workers choose coworking spaces as their remote work base.
Global Job Opportunities
With the rise of remote working, global job opportunities have increased manifold. You’re no longer bound by geography when looking for a job. Companies are now hiring employees from all over the world, irrespective of location. So, if you’re skilled and talented, you can easily find a job that perfectly matches your skills and experience.
Benefits of Remote Working for Employers
The employers get benefits by offering remote work as well. Let’s explore some of them:
Attract top talent
The war for exclusive talent is real, and employers need to do whatever it takes to attract the best talent. With an overwhelming number of people now working remotely, employers have access to a global pool of talent. They’re no longer limited to hiring people who live in close proximity to their office. This is a huge advantage for small businesses and startups that might be unable to compete with larger companies regarding salaries and perks.
When companies open up job positions to remote workers, they can hire people based on their skills and experience instead of their location. This gives a better chance of finding the right person for the job.
Remote work means reduced office costs
Another significant benefit of remote working for employers is that it helps them save on office costs. With more and more employees working from home or in coworking spaces, there’s no need for a large office space. This can help businesses cut their overhead costs and use it to invest in other areas of the business or even provide employee benefits.
According to Dave Rietsema, CEO of Matchr, “if a company opts for remote work, it can save up to $11,000 per employee in overhead expenses“. That’s because of the savings on the cost of rent and utilities like office furniture, supplies, and other equipment.
Improved employee retention rates
Employee retention is a significant challenge for employers. The cost of recruiting and training new employees is relatively high, so it’s crucial to retain your best talent. Remote work can help you improve employee retention by providing employees with more flexibility and work-life balance.
When employees have a good work-life balance, they’re less likely to look for other job opportunities. They’re also more likely to be productive and engaged in their work. So, if you want to reduce turnover and improve employee retention, offering remote working options is a great way to do it.
There are numerous benefits of remote working for both employers and employees. Therefore, it’s safe to say that if employees work remotely, it’s a win-win for both parties. However, it’s important to note that remote work doesn’t suit everyone. Some people might find it challenging to stay motivated and focused when working from home. So, it’s essential to consider whether or not remote working is a good fit for your company and employees before making the switch.
Otherwise, the benefits are remarkable and this trend will only increase in the future. So, if you haven’t thought about it already, now is the time to do so!