Today, more employees than ever before are working remotely. It is estimated that by the year 2030, up to 30 percent of the workforce is going to be remote, outsourced, or freelance workers who spend most of their time working from home, or another remote location.
Even though the benefits offered by working from home is clear for employees, there are also several advantages for employers. If you are considering offering this option for your workforce, you may want to review some of the specific benefits this work location option has to offer.
1. Reduced Time Commuting
A huge benefit for employees is the reduction in the amount of time they must spend on an unpleasant and stressful commute. However, it may also provide your business with a boost.
The wellbeing and health of your workforce is linked to higher levels of productivity and reduced absenteeism. Regardless of if it is an hour on a train or a half-hour in rush hour traffic, this is time workers don’t get back. When they can work from home, your workers are able to arrive at their desk fresh and ready to start working.
By allowing your employees to work from home, they also experience reduced traveling costs. This means your workers can spend more of their hard-earned money on the items they love. The end result is a healthier, happier, and a much more motivated workforce.
2. The Ability to Reduce Salaries
This doesn’t mean that your employees are going to willingly accept a pay cut for a flexible work environment, but research has proven that approximately 36 percent of all workers would choose the ability to work from their home over receiving a pay raise.
What this means is that instead of looking for an increase in their pay for good performance, your employees could be rewarded by being able to work from home. For an employer, this means your wage bill will be reduced and it can help to improve the cash-flow going into your business allowing you to take advantage of the opportunities that are presented to you.
You can easily make use of modern technology and software to track the savings you are accruing by offering flexible work conditions. One example of this technology is a human resources information system (find out more here: HRIS – What is Human Resources Information System?).
3. A Larger Number of Autonomous Employees
By giving your employees the ability to work from home, they have the ability to operate in a manner that suits their needs. Most people are extremely particular regarding how they like to work. In-office environments, employees have to adapt to the same, set approach. But, when they can work from home, there is an increased level of control.
There are some workers that like the tidy office, tidy mind approach to work, and need to have a spotless and serene environment to reach their highest levels of productivity. However, for other workers, those who are a bit more creative, for example, they may do their best work while sitting on the sofa or during the wee hours of the morning.
Of course, you are going to have to put specific rules in place, but within the set guidelines, your employees will have the freedom needed to create a schedule and an environment that ensures they can perform at their very best.
4. Increased Employee Retention
A huge headache for many small businesses is that they lose employees. It’s not always possible for smaller businesses to compete with larger ones when it comes to issues such as benefits and salaries, which means it’s a good idea for these small business owners to make the most of the advantages they do have access to.
While outdated workplace practices and endless meetings may be an effective way for employers to keep employees in bigger organizations coming in every day, the entrepreneurial spirit and ability in small businesses can provide employees with the freedom they really want.
By offering the opportunity to work from home, parents who have childcare needs have more flexibility, and other workers can achieve a better work-life balance. Both of these are things that play a crucial role in employee retention.
5. Reduced Costs
Office space today is quite expensive. If you are renting office space, you can recoup some of the costs by allowing workers to stay at home while working. This doesn’t mean doing way with an office completely, but when you allow workers to stay at home a few days a week, and use a hot-desking policy other times, you can significantly reduce the total amount of office space needed.
What Are You Waiting For? Implement a Work from Home Policy Today
As you can see, there are more than a few benefits offered by allowing your employees to work from home. If it is something you have been putting off, review the information here to see why it’s a smart and money-saving move.
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