Digital technologies continue to reshape the world and how we live in it. As a result, it should be no surprise that they are completely redefining how we understand work.
Specifically, the traditional 9-5, Monday-Friday job is beginning to slip away. More and more people are working remotely, and with the growth of the gig economy, we can only expect this to be a trend to continue.
As a result, to remain competitive in the labor market, more employers than ever are offering their employees the chance to work remotely.
By giving people the chance to integrate this perk into their life is about more than just recruiting and employee retention. It just makes good business sense.
Here’s why you should hire remote workers:
- Recruit from a global talent pool
- Reduce costs
- Increase employee engagement
- Boost productivity
- Improve employee well-being
#1 Recruit from a global talent pool
Your ability to recruit top talent is going to be a key factor in your business’ success. After all, it’s people who really build a company. And part of the way you get the best talent is to expand your candidate pool, as this increases the chances you’ll find the right person for the job.
By offering remote and flexible arrangements, you will be appealing to more people. In fact, you’ll be appealing to a global pool of job seekers. What’s more – since there are many qualified individuals living in regions of the world where the cost of living is lower, you may be able to secure industry-leading talent for a fraction of the cost.
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Remote working positions also mean people do not need to move, travel or commute for hours every morning, which is something people really hate to do. By offering remote positions, you can make your company attractive to people in other cities who are considering a job change but who don’t want to leave their home. That would help you, once again, to expand your candidate pool.
#2 Reduce costs
Part of your growth strategy needs to be to reduce overhead. This not only increases profit margins but also gives you access to additional funds to invest in the business.
Offering remote and flexible work options will allow you to reduce costs, such as office space rental, internet and phone bills, electricity, etc. All these savings can go right back into the business to improve cash flow.
By offering remote work as a perk, you’ll also be able to avoid the expense of in-office perks, such as a health facility, free food or coffee, office parties, etc.
The best part?
All of these savings will not come at the expense of employee engagement. Removing these things from an office environment would crush morale, but because remote workers are free to use this time as they please, the impact of these cutbacks is usually minimal.
#3 Increase employee engagement
Studies have found that remote workers are actually more engaged than in-office personnel. So, hiring remote employees can be a big boost to your company, as people who are engaged with their work are more likely to be intrinsically motivated. That means, they will push themselves to work harder because they believe their work is meaningful and contributing to their personal growth.
What’s important – when working remotely, people can see a direct benefit from optimization and innovation. For example, they can come up with a way to get more done in less time, then enjoy their free time. That’s something not available to office workers, as no matter how fast they get things done, they’re still required to stay in the office until the end of the workday.
#4 Enhance productivity
Growing your business ultimately means enhancing its productive capabilities; you need to produce (and sell) more stuff. Reducing costs, boosting marketing efforts and automating or outsourcing key functions, including payroll and HR, will all help you do this.
But in the end, it’s will be your ability to get more out of your employees that will determine if you are able to expand productivity and grow your business.
Remote and flexible workers have a distinct advantage when it comes to productivity. They get to structure their days in a way that makes the most sense and align their work schedules for the times in the day when they are at their productive best.
For example, some people may be at their best early in the morning, before the sun rises – that’s the time most office workers are in their commute to work that starts at 9 am. By the time they get into the office, half of their ”productive day” is already gone.
The same goes for night owls – these people don’t start locking in until later in the day, making their mornings far less productive. Giving people the freedom to build their work lives around their peaks and valleys in productivity will ultimately allow you to get more out of each worker, helping push the company forward.
Use DeskTime time tracking app to find out your peak productivity hours, then arrange your workday around these hours.
#5 Improve employee well-being
Another thing you should be concerned about regarding your employees is their well-being – if people aren’t healthy and well, that will significantly hurt the company’s ability to function smoothly and grow.
There are actual benefits to physical health that come from working remotely. While employees will probably still spend their time sitting at a computer, because they aren’t stuck in an office, they can easily break up their day with walks or time spent outside. That helps to prevent the strains and pains that can come from sitting at a desk all day.
Furthermore, remote and flexible work options allow for a better work-life balance. Reduced commuting time, combined with the ability to choose their own hours, allows people to organize their lives better to include more of the non-work activities they enjoy. This helps to avoid burnout and its disastrous effects.
About the author: Jock is the founder of Digital Exits, an online brokerage service specializing in the buying/selling and appraisal of online businesses. He has started several companies throughout his career, each one operating entirely online, and this has made him a big advocate for remote and flexible work arrangements. He likes to voice this opinion, and also share his experience as an entrepreneur, by contributing to blogs and other online forums related to business management and development.
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