The Covid 19 pandemic disrupted the working schedule hastening the rise in remote working. As a result, people made adjustments and adapted to working at home. Up to date, most companies are working thanks to the many benefits remote work offers remotely. Working from home saves costs, reduces absenteeism, decreases turnover, and promotes better work-life balance. In this article, we will enlighten you on the top 7 reasons why some companies remain remote even after the danger of Covid 19 has been maintained.
7 Reasons Why Companies continues to Work Remotely
Here are seven reasons why many business owners have opted for their companies to continue working remotely.
#1. Reduces Costs
One of the reasons that many organisations opted to continue with the work-from-home schedule is because operating remotely significantly reduces overhead costs. Companies that switch to a fully remote work business save money on rent, office utilities, and other office supplies. Business owners can then use the money they save on further investing in employees, training, and technology to enable the business to gain a competitive edge.
#2. Working From Home Expands Access to a Wider Talent Pool
With the rise in remote work, organisations can find talent anywhere and reap the benefits of global hiring. Business owners who have completely switched to remote working get access to a broader talent pool.
Every organisation wants to hire the best person. When there is no geographical limitation, you employ the best talent based on their qualification, skills, and suitability for the role. But not based on where they hail from. That enables you to hire highly skilled workers whom you would have otherwise missed hence expanding your talent pool.
Furthermore, working with a diverse workforce comprising of a team where members hail from different geographical locations provides diversity and strengthens your organisation. That is because international employees contribute unique ideas and different views to the company that would otherwise be missing.
#3. Decreased Turnover
One main reason companies continue to work remotely is because it has improved employee retention rates. The process of hiring new employees is usually expensive, but by allowing a work-from-home schedule, many companies are recording a low turnover. Employees who work from home do not feel micromanaged and believe their organisation’s leadership trusts them. That, in turn, makes them have a positive feeling towards their employers, which promotes a sense of loyalty, and they are less tempted to search for employment elsewhere.
#4. Increased Productivity
Unlike what many people think, remote work increases productivity. Some business owners believe that working from home results in time wastage and reduced productivity. However, that is not true. Study shows that remote workers are more productive than employees working from an office. That is because working from home eliminates time wasted while commuting and when having lengthy in-person talks. Furthermore, when working remotely, the workers are flexible and can set their work schedule during their most productive hours, unlike the regular 9 to 5 schedule.
#5. Reduced Absenteeism
Over the years, absenteeism in the workplace has been a significant problem in many companies. When working from an office, if a worker is unwell or absent for other reasons, their tasks are completed by a less prepared or qualified colleague, which can affect performance. However, working from home can help reduce staff absences. It is easier for workers to switch to a computer and work from the comfort of their homes rather than commute to the office, especially when sick.
Also, remote work reduces stress by promoting a better work-life balance which is one of the leading causes of absenteeism.
Remote work allows flexible working hours. However, flexibility is said to benefit the staff primarily. It is equally helpful to companies making many organisations prefer to work from home. Businesses can extend operations beyond the standard 9 to 5 workday. It can open up to a 24 hours operation to offer around-the-clock customer service, which means more income for the company. Working remotely is especially favourable for companies willing to stretch their working hours with limited employees.
#7. Improved Workplace Technology
As organisations transitioned to remote work during the pandemic’s peak, many were distressed trying to put in the proper tools to enable work from home. At that time, many businesses had outdated tools and had to upgrade their systems. The companies operating in a traditional-based model were required to improve workplace technology to transition. Some technology tools for remote work include timekeeping software, cybersecurity tools, video conferencing platforms, task management systems, and more. Acquiring such tools was capital intensive but worth it. That is one of the reasons why many companies find it hard to end remote work.
Indeed, there are tons of reasons why companies prefer to continue working remotely after the Covid 19 crisis is behind us. This working schedule has reduced overhead costs incurred by organisations working from the office. Also, remote work allows flexibility in working hours, decreases turnover rates, and reduces staff absenteeism. In addition, working from home will enable companies to hire staff from different geographical locations, which results in access to a broader talent pool. Lastly, remote work increases workers’ productivity which means more income for the company. From all these benefits, it is sure that remote work is the best path forward for those in entrepreneurship.
Written by Stephen Taylor, Propaganda CEO