The Business Benefits Of Remote Work: Why Companies Must Adjust

The Business Benefits of Remote Work

1) Remote work boosts productivity

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Many studies by leading sources like Standford University, Great Place to Work, and more show that remote work is boosting productivity. Why?

• Workers report improved work satisfaction, as they have more control over their environment and their schedule. Employees feel valued when they’re given the trust and opportunity to work remotely. They can also optimize their day based on when they are most productive, which are very much dependent on lifestyle and personality, and so on.
• Less distractions. From colleagues passing by to chitchat to an environment which isn’t optimized for that specific individual. As always, there might be expectations. If someone has small kids at home, or find it challenging to focus when not being in the office.
• Remote work allows people to design their ideal lifestyle, which in turn can save time, reduce stress, boost happiness, innovation, and productivity. Where you work is no longer dependent on where you’d like to live, for example. Moving to a paradise island, back to your hometown, or to a little mountain village to enjoy a slower pace while working for leading brands is now possible.
• Remote work forces businesses to focus on results rather than presence. Instead of being concerned by how long someone is sitting at their desk or whether they’re taking a break, focus will be on what they’re producing and how they can improve their output.

2) Remote work reduces costs

It helps companies save money on things like office space and equipment. Global Workplace Analytics shows that IBM cut $50 million in real estate costs by letting people work remotely. According to the same study, 60 % of employers see cost savings as the top benefit of remote work.

Other examples of costs remote work help reduce:

• Business travel expenses
• Cleaning services
• Perks that people no longer need at the office

3) Remote work gives you access to global talent

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You’re no longer limited to whatever is available where you happen to live. Talents and businesses across the world are able to connect and collaborate. This helps to level the playing field.

It also opens up for global competition. But hey, that just pushes us to do better, right. 😉

4) Remote work help decrease environmental impact

With more and more people working remotely, the environmental impact of businesses is decreasing. Fewer people are commuting, and there’s less need for business travel.

For example, data from Breathe London during the period when remote work started to take off more shows that GHG emissions fell by 25% during morning commutes and 34% during evening commutes.

5) Remote work makes you a more attractive employer

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A study conducted by PR Newswire shows that 80% of U.S. workers would turn down a job that didn’t offer flexible or remote work. Many other studies indicate the same.

Companies who are unwilling or unable to adjust to a remote work policy are going to find themselves falling behind. With advances in technology, more and more people are choosing to work from anywhere. New generations are growing up expecting being able to do do so.

The world is changing, and the days of everyone coming into the office for nine to five are gone. In the future, it will be hard to attract talent if you don’t offer them at least the option to choose how and where they would like to their best work.

The future is remote

We know there are challenges involved with remote work – but the future is here, whether you like it or not. The business benefits of remote work are clear. Companies that are able to adapt and embrace this new way of working will be the ones that thrive in the years to come.

Ready to embrace more remote work? Here’s how to manage remote teams efficiently.