The benefits of working from home are numerous. There’s a major reason why upwards of 35% of the economy is remote. More and more companies are coming to terms with the fact that it doesn’t make sense to force employees to be babysat in an office.
It costs the company money, it costs the average employee money, and it kills overall productivity and happiness. Business owners around the world are beginning to weigh the options of whether or not it makes sense to let employees work from home.
On the one hand, paranoia sets in that work quality will suffer, or employees will slack off. On the other hand, the possibility to mitigate costs, enhance staff, and massively scale while not having to increase office space is a tempting point to consider.
In this article, we will go over a few reason to work from home and why you should be trying to implement it into your business.
The reasons why business owners need to consider allowing their employees to work from home are the following:
It Cuts Down On Costs
One of the biggest time and cost sinks for workers and employers around the world is the cost of the daily commute. It’s tiresome, frustrating, and more often than not is one that both sides wishes could be avoided.
The commute breeds some of the most ridiculous excuses and late starts to the day which kills productivity before the day even begins.
It takes up the time of the employee that could be better spent either being further rested or orienting themselves for the day, especially if they live a long distance from where they work.
That doesn’t even include the cost of operating a large office space. Large office spaces are, for lack of a better description, an environment that breeds inactivity and ineffectiveness.
Large office spaces for some companies don’t make sense and merely exist to demonstrate their success, even though it in some cases inhibits it. The cost of an office space that is luxurious can run thousands to hundreds of thousands a month to operate and is one of the biggest costs that some businesses experience.
Allowing employees to work from home offers the chance for both employers to spend more time concentrating on growth and quality and less time on management. It also saves money because employees cut down on their costs due to removing the commute from the equation.
It Frees Up Your Employees Time To Work More Effectively
A motivated employee is one that can do more work in less time. A majority of meetings that happen in person at the average company play out like Dilbert sketches. They have little point, don't accomplish much, and leaves most involved feeling like it could've been avoided.
Employees that have more time can be trained to segment their time into what tasks are essential and what tasks play little role in the success of their position. Employees also have the added incentive to spend more of their time to develop their skillset.
It Expands Your Pool Of Talent To Choose From
The limitation that forcing employees to work on location has is that it only lets talent from the local area or those willing to relocate apply for positions. This means your company is at the mercy of the market.
Many companies and positions are offering the chance to work remote as a perk. The companies that do not offer remote positions remove themselves from many of the top candidates that list it as an absolute necessity to work.
It makes sense why they would. For the employee working remotely gives them control over their office space, how they work, and how they brainstorm and problem solve. It permits greater degrees of freedom and comfort that can't be compared to working on location for a job.
In many situations, the only way a company can compensate for working on location versus from home is to offer more money. This is one of the few edges that smaller companies can have over massive corporations.
Massive corporations are dependent on bureaucracy and miss out on the cutting edge opportunities to institute policies such as working remotely.
This means that the smaller companies can sweep up middle-level key players by simply offering the chance to reduce their hours or work from home, which translates to spending more time with family or where they choose.
It Improves Employee Retention Rate & Morale
It’s been well documented that employees that are happy are more productive. It is obvious why, but the effects that working remotely has on employees is only recently starting to become a totem of the rapidly changing digital economy.
Employee morale and retention rate are two crucial factors to consider when planning your team building goals for developing your staff.
Working remotely bolsters morale and means a much higher retention rate than other jobs. For pregnant mothers, the ill, or the physically disabled, it's an opportunity to spend more time working when it's needed and not be limited by what's physically capable.
This means the higher likelihood that employees will be more loyal for the long term. The effects of constantly having to replace or hire and train new staff is a time sink that can be highly costly to a business.
As time progresses, the companies that can adapt will survive and the ones that won't will not. As the internet becomes the basis for most client/customer interactions, gradually companies will gravitate towards digital workspaces as being the default.
Between the savings, and the opportunities it offers to build a more capable, more cost-effective staff, it is simple why it makes sense to let employees work from home. Greater profits and lower costs means greater success, and that is the entire point of scaling your business in the first place.