As more and more people realise they can perform their job anywhere, remote work continues to rise in popularity. It’s not a short-term trend as Generations Y and Z are inclined to telecommuting. This has led companies to provide virtual opportunities to attract them—but is it worth it?

It’s easy to see why employees prefer to work from home. Not only can they ditch the commute but they can also enjoy better work-life balance. Sadly, many businesses believe there’s nothing in it for them, thereby creating a rift with staff who don’t want to go back to a traditional setup.

If you’re currently offering a flexible work policy and wondering where to go from there, think again about reverting to an office-based team. You’ll find there are plenty of perks to going in the opposite direction and embracing remote work for good instead.

Why Move Towards a Fully Virtual Workforce

To access more talents

One of the main advantages of a remote team is that you’ll no longer be limited to your geographic location when recruiting. More will want to apply for your openings too. Best of all, the quality of applicants tends to be higher than in your locale.

Around 77% even say that the ability to telecommute at least some of the time increases their likelihood of accepting a job. Furthermore, 53% of developers said that being able to work remotely is a priority when looking for a new job.

As a matter of fact, most workers are willing to exchange other benefits for the chance to work from home.

• 28% say they’d take a 10-20% pay cut;
• 21% are fine with forfeiting vacation time;
• 17% are giving up retirement contributions.

To make employees happy

Most of the working population value their time so they like it when they have more time to do what they want. This is why the idea of working from home is appealing to many.

The 2019 State of Remote Work report reveals that 83% of full-time workers in the United States agree that being able to work remotely would make them happier. According to 91% of the correspondents, it’s because they want to achieve a better work-life balance.

The FlexJobs 2018 Annual Survey also shows that 86% of professionals believe that telecommuting would be less stressful. Also, 77% of them think it would give them the chance to exercise more and eat healthier. Others cite it would allow them more family time or higher cost savings.

To boost staff retention

We’ve mentioned how working from home makes employees happy. You may be wondering how that translates into a benefit for your company. The answer is it leads to an increase in retention.

Going back to the 2019 report by Owl Labs, 74% of workers state they are less likely to resign if they’re allowed to work from home. A Softchoice study further reveals that people might be tempted to leave their current roles if offered a remote position elsewhere.

Data from an older State of Remote Work report also shows that businesses that have remote work opportunities have 25% less turnover than those that don’t. These same employers get to save a lot of time and money in replacing someone who has resigned from their post.

To reduce overhead costs

Switching to a fully virtual workforce is a great option if you’re aiming to cut costs. Having no office means you no longer have to pay any rent, except for when you want to work in a co-working space yourself. Neither do you have to worry about utility bills.

Anyway, your staff are not at their desks 50 to 60% of the time according to the President of Global Workplace Analytics Kate Lister. A brick-and-mortar workplace is therefore a huge waste of time and space. You can save up to $11,000 per half-time telecommuter per year without it.

The estimated reduction in costs becomes more obvious when you’re looking to expand your team as you won’t have to move to a bigger office, rent a meeting room for group training, nor purchase additional computers and other equipment for the new hires.

To save the planet

Climate change is a major issue in developed countries across the globe. Different measures have been proposed for the workplace yet remote work remains one of the best ways to improve things at minimal cost.

Without the need to travel or commute to get things done, you would dramatically reduce your carbon footprint. It’s estimated that having everyone telecommute half of the time would be the same as removing 10 million cars from the road.

Interestingly enough, becoming more green also makes you more attractive to candidates. A 2019 survey of large company employees had over 70% respondents say they prefer to work at a company with a strong environmental agenda.

To raise work performance

Many employers assume that teams are less productive when they work from home. They couldn’t be further from the truth as a typical office tends to have more distractions than a workstation at home. A virtual arrangement can improve performance by 13%.

Employees are able to focus better since:

• They can personalise their environment to what they’re comfortable with.
• they can work during hours they are most productive in.
• They can avoid getting distracted by their colleagues.

For these reasons, 65% of people feel they’re more productive when remote.

To add, 43% are more likely to work over 40 hours per week compared to their on-site counterparts. This is because they’re more willing to work even when not feeling well, have a harder time with unplugging, and are not tired from long commutes.

To improve general well-being

Fewer people gathering together means it’s harder for germs or viruses to spread. As your team doesn’t have to meet together everyday, they can avoid catching any bugs from their colleagues. General and long-term health is then improved.

Your staff has more chances to work out or participate in outdoor activities too. For instance, the hour they spend commuting can be used for jogging around the neighbourhood. If they begin to feel overwhelmed or burnt out, they can easily go for a walk as well.

Since they won’t have to take sick leaves as often, productivity will go up. With more getting done in the same amount of time, you can accept and start more projects and boost your revenue. You’ll have less people asking for cash advances to pay for medical bills too.

Don’t Wait to Go Remote for Good

While there are some challenges when the whole team is working from home, the benefits far outweigh the potential downsides. It’s still a win-win situation for employees and companies, so why not give it a try?

Whether you’re growing or starting a remote team, we at Remote Workmate can help you find the right candidates. Allow us to handle posting of the vacancy on our website as well as the initial screening of all applicants. We’ll find you a high-performing virtual worker in no time!