Future Forward – 5 Ways Telecommuting Can Benefit Your Business
by Arina Smith Business Planning & Opportunities 02 November 2018
Today, more and more businesses are recognising the value of telecommuting. Even some of the biggest companies are starting to embrace the option of virtual offices and work flexibility. More than a stereotypical millennial agenda, telecommuting offers a host of advantages to companies, employees, and the environment – all while being better for your business’s bottom line. Here, we take a look at why remote working is becoming more popular and how it can be beneficial to your company:
From noisy co-workers to pointless meetings, there are plenty of opportunities for distraction in a traditional office setting. While many people believe that working from home isn’t conducive to productivity, a recent study found that 91% of remote employees get more work done outside of the office. When employees are given the option to choose their own working environment, they’re able to zone in to their tasks for the day and use their time in a way that works best for them. As a result, they often put in more hours than those working in an office setting.
A two-year study of a workplace that experimented with remote work found some exciting results. On top of an incredible boost in productivity, the telecommuters’ employee attrition decreased by 50%. They also took shorter breaks, had fewer sick days and requested less time off. By giving employees the option to skip the commute and enjoy a better work-life balance, you can significantly cut the costs of onboarding new staff if your company experiences high turnover.
Whether you’re the CEO of a multinational corporation or a start-up founder, cutting costs where possible is essential to running a healthy business. Allowing your staff to telecommute is one of the most effective ways to reduce expenses since you directly save on costs including office space, technology, furniture, utilities, and office supplies or stationery. Global Workplace Analytics reports that if a small- to medium-sized business allowed their staff to telecommute for just half of their hours, they could save an average of $11,000 per year.
Better for Older Generations:
As life expectancy increases and the cost of living soars, many people who are at average retirement age don’t have enough saved up to leave the workforce. In a survey about what motivates professionals over 50 to work, a massive 64% of workers stated that they both want and need to work, 22% replied that they need to work, and only 17% reported that they want to work. It’s undeniable that older staff who have been with your company for some time are a valuable resource, and allowing telecommuting can help them to stay with your company for longer. By avoiding commute stress and enjoying a better work-life balance, older employees can continue being a meaningful and productive part of your business for years to come.
As well as the benefits it offers to companies and employees, telecommuting can also help to fight back against climate change. Cutting back on daily commutes, even if only for one or two days a week, assists in reducing pollution and greenhouse gases. Additionally, employees who work from home use less electricity and fewer office supplies, which aids in reducing waste. If you’re eager to do your bit for the environment, allowing your workers to telecommute is one of the most effective ways of doing so.
Working from home may have seemed impossible a decade ago, but today, it’s the future of the workplace. On top of its financial benefits, telecommuting makes for happier, more productive workers – and what business owner would say no to that?
Feature Image: unsplash.com