Six Benefits of a Remote WorkforceMarch 25, 2019
Allowing your team to work remotely even part of the time can positively impact your business and increase employee satisfaction.
There has been much debate about whether employees are more productive when they work from home or not. For employers, remote work has historically implied increased challenges in managing teams, such as tracking productivity and having a unified company culture. But according to a recent study by PwC, 71% of employees say supporting remote and virtual working is important to their future – and satisfied employees make for a hardworking, loyal workforce.
Still on the fence about remote work? Allowing your team to work remotely even part of the time can positively impact your business in these six ways:
- Access to a larger talent pool. By including a remote workforce in your hiring plans, you can recruit from a larger talent pool instead of being limited to one location. This allows you to find the best talent, skillset, and fit for your team – no matter where they’re located.
- Greater productivity. A Stanford study revealed that employees who worked from home were in fact more productive than their counterparts in the office. They took shorter breaks, had fewer sick days, and took less time off with more flexible schedules.
- Reduce unscheduled absences. Out of all employees who call in sick, 40% really aren’t, according to CareerBuilder data. Factors such as family issues, stress, and other personal needs prevent employees from coming in to work. With a remote option available, employees are more likely to work when they’re sick and schedule appointments and errands with more flexible hours.
- Retain top talent. Losing a valued employee can cost employers thousands of dollars – not to mention the cost of recruiting and training a new hire to take their place. Offering a remote work option, even part-time, increases retention. In fact, according to a Stanford study cited in the Havrvard Business Review found that the average worker was willing to accept 8% less pay for the option to work from home.
- Less overhead. Having a remote workforce can help you save on long-term fixed costs as a result of not having to rent office space for as many employees. And working remotely benefits employees as well when it comes to finances. A study by Owl Labs found that remote workers earn salaries higher than $100,000 a year 2.2 times more frequently than on-site workers.
- Increase employee satisfaction. You can hire the best talent out there, but if they are not satisfied with their work environment, they won’t give 100%. Factors such as the daily commute to work can take a toll on an employee’s happiness, so it comes as no surprise that employees who work from home, even if it’s just part-time, are more satisfied with their jobs.
The benefits of empowering employees with workplace flexibility are clear, but employers need the right tools to do so. With Paylocity’s solutions such as Performance Reviews & Journaling, Learning Management Systems, Surveys, mobile capabilities, and more, employers can connect with their employees as if they were in the office.
Date posted: March 25, 2019