It’s no secret that there are many benefits to remote working. Less turnover, happier employees, increased productivity – and that’s just the tip of the iceberg. And these reasons are exactly why my company and countless others have gone the distance and haven’t looked back.
Thinking about trying remote or hybrid working? Take it from a fellow entrepreneur (ahem, me), remote working is worth it. Keep reading to find out why.
Reasons we went (and stayed) distanced
When your business goes remote, your employees aren’t the only ones who benefit. That’s right – employers also have plenty of outside benefits to take advantage of. From increased productivity to access to a larger talent pool, there’s a lot to love when it comes to remote working.
There are countless reasons why my team decided to work remotely. And even more reasons why we chose to stay remote after the great work-from-home experiment of 2020. Let me list five reasons why we went (and stayed) remote for good.
Like many companies, we initially decided to go down the road when the pandemic started in 2020. We wanted to protect our employees as best we could. Plus, it gave us the chance to finally experiment with 100% remote working.
Of course, Covid was the main reason we went remotely in the first place. But the health of our employees is one of the reasons why we continued to work from home. Working from home not only improves your team’s mental health and reduces stress, it can also help reduce the spread of illness in the workplace. And in turn, you can prevent the cold and flu season from wreaking havoc on your business.
2. Talent Pool
Taking your team away can do wonders for your talent pool. Rather than limiting yourself to a local talent pool, you can reach out to top talent across the country.
When my accounting software and payroll company, Patriot, went remote, we had less than 100 employees in a few different states. Now we have over 200 employees in 27 states – wow! And we are still growing every day.
Offering remote work can not only expand your talent pool into other areas, but it can improve your employer brand and make your company more attractive to job applicants. Not to mention, it can make your business stand out among top talent (about 60% of employees said they would quit their jobs for a completely remote job!).
3. Employee Retention
In addition to attracting first-class employees to your company, remote working has another major benefit: employee retention.
Employee retention is oh-so-important for many reasons. It can help to improve your work culture, increase productivityand increase employee engagement. Plus, no employer likes revenue, especially if it includes an all-star or long-term employee.
A solution to retain employees? Working remotely, of course. Companies that offer remote work experience a 25% lower turnover rate. Working from home can give your team the solid work-life balance they need to stay productive. And it can remove additional stressors like long and dreaded commutes.
When my company went remote a few years ago, we were honestly a little leery. How did the employees adapt? Could they concentrate at home? What started as a small experiment turned into something better than we could have imagined. And the employees? They became more productive than ever.
Believe it or not, remote working is a huge productivity boost for businesses. Do not believe me? Here are some quick facts about remote working and productivity:
If you’re hesitating about taking your business remotely, don’t worry that it will hinder your team’s productivity. Working from home can give your colleagues a much-needed boost of energy to take their productivity to the next level (take it from me!).
You don’t have to be a rocket scientist to know that expenses are a big part of running a business. But what happens to those costs when your business goes remote? Well, they certainly don’t disappear 100%, but they do decrease dramatically.
When you take your business remotely, you don’t have to worry about additional overheads. Here are some of the costs you may be able to save by going remote:
- Rent or mortgage payments
- Heating and air conditioning
- Office supplies and furniture
Keep in mind that remote working doesn’t eliminate all employee costs. You still need to provide them with the necessary equipment and tools to work from home. And maybe you decide to go the extra mile and cover some of their other work-from-home costs as well (e.g. Wi-Fi).