The traditional workplace model is dying – we’ve said it many times, but spending hours each week commuting only to sit in an office to do your work is rapidly becoming antiquated. An amazing 83% of managers say that allowing their employees to work remotely will become more and more prevalent in the next five years, according to Fortune. If you’re still worried whether to offer this new workstyle model to your team, just take a look at these recent findings, and prepare to be won over to the remote revolution.
High turnover of staff is a headache for businesses, and canny managers will want to do all they can to retain talented employees. Offering them the option to work from home is one way to reduce this, with a report from Stanford University demonstrating that “job attrition rates fell by over 50%” when companies offered working from home, according to Remote.co. Demonstrating to your team that you’re willing to adapt in this way gives a great impression of trust and flexibility, and means they’re more likely to stay loyal to you.
Offering remote working will also attract new talent – especially millennials – to your company, as 70% of UK employees said that they would be put off from applying to a job that doesn’t offer it. Being at the forefront of this sea change shows that your business is forward-facing, and will appeal to the talent of the future.
All those overheads – office space, electricity, equipment – are hugely reduced by having a remote workforce. Big companies that have adapted to this model have made huge savings – American Express saved $10-$15million annually in real estate costs by shifting to a flexible working program. Even if you’re a tiny start-up, you’ve really no need to rent a permanent office space – unless absolutely necessary – so have saved yourself a big expense right off the bat.
The tired cliché of ‘working from home’ equalling ‘sitting on the sofa watching Loose Women’ has been firmly debunked. Study after study show that homeworkers are actually way more effective in getting their work done. Stanford University (yes, them again) found a 13% performance increase by those working from home compared to those in an office doing the same role. And when asked themselves, employees agree – with 91% saying they’re more productive when working remotely, according to Forbes.
Remote working is better for your business, better for your employees, better for you. We’ve got the low-down on how to run your business using remote employees, too, so now there’s no excuse for not embracing the future of the workplace.