In 2019, online freelance job site Upwork predicted that as much as 73% of all teams would have remote workers by 2028. However, the unexpected coronavirus outbreak has brought a surge of this working set up far earlier than expected. Based on an early April 2020 survey conducted by MIT to 25,000 US workers, 34% of the participants started working remotely due to the pandemic. Add the 15% who were already working from home pre-COVID-19 and nearly half of the American workforce has now become remote workers because of the current situation.
Moving forward, it’s highly possible that remote work will be the future of organizations worldwide. Given this pandemic, teams now have a taste of the many benefits that this new way of work can bring. With that, here are four reasons why working remotely is likely to not just be a solution for today but will be the way companies will run their businesses long-term into the future.
A huge benefit for organizations who offer a full-time remote work policy is the ability to hire from anywhere in the world. With virtual workspace platforms enabling seamless communication, collaboration and project management to happen from anywhere, hiring staff from various locations is no longer an issue as business can continue seamlessly online. Instead, HR can focus on recruiting candidates with top quality skills and expertise rather than be limited by their location. Plus, there’s the added bonus of cost-saving from reduced visa and relocation packages.
With staff working full time from various parts of the world, it’s even easier to ensure that your business operates smoothly around the clock, thanks to the advantage of multiple time zones. Through this set up, you can make sure that a team is always ready to respond to your international clients at the appropriate time. This around the clock customer service can be a game-changer for your customer service as well as company productivity as a whole.
Research shows that teams around the world have responded favourably to remote work while simultaneously bringing benefits to the organization as a whole. Based on a survey by IWG, 85% of companies saw an increase in their employee productivity while Owl Labs found a decrease of as much as 25% in their turnover. Meanwhile, a study from workplace solution firm Staples found that 77% of companies said allowing employees to work remotely may lead to lower operating costs. With all these benefits, your company should strongly consider continuing the remote work set up even after the pandemic ceases.
A new generation of the workforce is quickly taking over today’s businesses—and attracting this group will be beneficial to the future of your company. In fact, PWC said that this year, millennials would account for 50% of the global workforce. If you want to attract and retain this new generation of employees, you have to be willing to champion their preferred set up of work. For instance, Monster.com reported that 58% of millennial workers would rather take a job that allows remote work versus another one that pays 20% more.
With all the benefits that remote work brings, there leaves little room to ignore it as a logical set up for the long run. With digital workplace tools for collaboration, project management, communication, HR processes and more readily available and highly effective than ever, it forces businesses to simply ask: “Why not?” Needless to say, it has never been easier to create an engaging, productive and cost-saving remote environment for the entire workforce.
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