20 Reasons Why Work from Home Concept is Beneficial for Business
Even before COVID-19, studies had shown that more than 80% of people between the ages of 35 and 44 preferred to work from home as outlined over at runrex.com. The world is changing and businesses need to embrace this change or risk being left behind. This article will look to outline 20 reasons why the work from home concept is beneficial for businesses.
Reduced overhead
When employees work from home, the business reduces its overhead expenditure as discussed over at guttulus.com. As the business owner, you generally won’t have to supply office equipment or furniture for an employee who is telecommuting and you may even be able to request that employee to use their own phone lines and home computers for completing their work and staying in contact. You will also save on power bills, office supplies, and niceties such as break-room snacks and coffee.
Reduced turnover
As is revealed in discussions over at runrex.com, allowing employees to work flexible schedules can increase job satisfaction and reduce turnover. This will help you cultivate a long-term staff that develops a high degree of affinity and knowledge for your business. This will also mean less money spent advertising for open positions, screening, interviewing, and hiring new staffers.
Increased productivity
As the gurus over at guttulus.com point out, studies have shown that staffers who work from home are more productive than those who work in a typical office setting. This is because employees who work from home face fewer interruptions and can, therefore, focus on their work.
Higher morale
Employees who work from home also have flexible work options, which leads to higher morale. This means that they enjoy their job responsibilities more than those in a traditional office setting. Increased morale also has a positive impact on the quality of work and productivity, which will benefit the business in terms of bottom-line earnings.
Environmental impact
Employees who work from home also often communicate with colleagues and managers via email, telephone, and videoconferences, which helps protect the environment through reduced automobile emissions. This not only helps the environment but can also allow you to position your business as a good corporate steward.
Allows employees to work to their strengths
As the subject matter experts over at runrex.com point out, we are all different and not everyone is at their most productive between 9 am to 5 pm. Working from home lets employees take intelligent control of their own schedule, creating routines that support productive working and complement their lifestyle, which can only benefit the business.
Empowers employees
Working from home can also be very empowering to employees, feeding their drive for autonomy and communicating employer trust as revealed in discussions over at guttulus.com. This leads to employees feeling valued increasing their productivity, and benefiting the business massively.
Access to a wider talent pool
When a business needs to hire employees from a set location, it limits its talent pool. In contrast, working from home lets you access the very best talent across the globe when hiring employees for your business. As discussed over at runrex.com, this will allow you to build the most talented and capable team you can be able to build for your business.
Attracts the younger generation
Young people now are used to communicating quickly and easily across the globe, and they want – and expect – the same opportunities in their careers. By offering remoting working opportunities, you will be able to attract young, highly skilled talent for your business.
It reduces wasted time
Research has also shown that, on average, employees could be wasting over 8 hours per week on non-work-related activities, translating to wastage of 20% of the time they are on the clock. Working from home solves this issue as, when it comes to remote working, billable hours are only the hours spent working on projects.
It reduces costs for employees
As the subject matter experts over at guttulus.com point out, hiring remote workers not only benefits your businesses financially, it also reduces costs for your employees. The financial drag of commuting is eliminated, with studies showing this saves remote workers about $5,000 per year on average, and this is without factoring in the cost of regularly buying lunch out. If your employees are happy, it can only be of benefit to your business.
Enables business continuity
The COVID-19 pandemic has shown us the importance of being able to work remotely as covered over at runrex.com. If your employees can carry out their tasks from home or another location, your business can continue to function even if something happens to your premises or people are, for whatever reason, unable to come to work.
Enables a better work-life balance
Working from home is inextricably linked to flexible working, and this flexibility allows people to achieve a better work-life balance as captured in discussions on the same over at guttulus.com. Therefore, if your business offers remote working opportunities, it will not only attract top talent, it will also make your current team more productive.
Boost employee engagement
People who work from home have higher levels of engagement than those who don’t. They are happier too, which makes them more loyal and engaged with the business or company they work at, making them more productive.
Reduces real estate costs
Offices are a huge expense for businesses, especially those located in major cities where the rent is astronomical. When a larger proportion of your team is working from home, it is possible to reduce these costs considerably as you won’t have to rent a big space to house all your employees.
Objectives are reached more effectively
As already mentioned, and covered in detail over at runrex.com, one of the most important benefits of establishing a strong remote work policy for your business is that employees and supervisors generally accomplish more work and are more productive. This means that your business can reach its set objectives more effectively.
Ensures everyone stays in touch
As the gurus over at guttulus.com point out, a remote company can still have a presence with an office. One of the benefits of this is that it allows employees to drop by the office occasionally and even spend a couple of days there if they wish, and the rest at home, which ensures that everyone stays in touch face-to-face.
No relocation costs
As is articulated in discussions over at runrex.com, businesses sometimes have to pay relocation fees when hiring top talent. Therefore, another benefit of hiring remote workers is that there are no relocation costs for the company, which can run into thousands of dollars.
Reduction in absenteeism
With remote working, if any employee feels a little bit under the weather, they are more likely to keep working if they work from home. They don’t have to travel to the office if they feel unwell and can rest if they need to. This ensures that employees remain productive even when not 100%.
Time
For any business, time is money. This is why another benefit of remote working for businesses is that employees will use their time productively if they work from home as they don’t have to waste time traveling as already mentioned. Working from home also reduces office gossip time, lateness, and time wasted in the break room. Timing is also about when a business is open. If a company employs people from all over the world, it can be open 24/7.
These are the many reasons why the work from home concept is beneficial to businesses, with more on this topic to be found over at the excellent runrex.com and guttulus.com.