Due to the COVID-19 pandemic, a number of trends in the labour market were markedly accelerated, none more so than digitalization and the shift towards remote working. Whereas the initial switch to hybrid and remote working models proved disruptive and even catastrophic for some businesses and sectors, it seems as though the new remote working culture is here to stay, with many industries flourishing and experiencing heightened levels of productivity and employee retainment as a result of going remote. Depending on your industry and situation, embracing remote working could work wonders for your business – but why has the remote working model been so beneficial for so many organisations?
Wider pool of talent – Now that companies are making use of remote employees, geographical restrictions have been lifted and it’s easier than ever to recruit the most talented workers from around the world. The new remote working culture has enabled employers to widen the net when it comes to attracting new talent – they no longer have to rely on workers who live in the immediate area, and can choose the best person for the job rather than the closest.
Reduced Outgoings – If your workforce does not have to commute to a central office or physical headquarters, you’ll be able to make significant savings in costly outgoings such as ground rent, business rent, running costs and service charges. This is especially beneficial given the current rate of high inflation and rising energy bills – if you don’t have to pay high rates to heat, power and run an office, you should start saving money immediately. These savings can be used in a more productive way that’s beneficial for the business.
Cutting out the Commute – Commuting can take a lot out of employees, especially if they have to travel a long distance into work. Whereas cutting out the daily commute can go a long way in boosting morale and providing more free time for workers, it can also help your employees to save money whilst reducing negative effects on the environment overall.
Improved Work-Life Balance – By cutting out commuting time and enabling your employees to work from home, it’s highly likely that your workers will report increased levels of job satisfaction and wellbeing – remote workers consistently report that their work-life balance has improved since making the switch to the work-from-home model.
Increased Productivity and Retainment – If your employees feel happy and satisfied in their roles, they’re more likely to experience heightened levels of productivity and quality in their everyday jobs. It’s even said that remote workers typically put in more hours each week than peers who continue to commute into an office. The perks that come with remote working can also ensure that staff turnover is reduced and you’re better able to retain valued employees who may have jumped ship otherwise.