29 Jun Top 5 Advantages of Working From Home: Reasons to Love Remote Working
***Updated on 11 February, 2021
Are there advantages of working from home?
Thanks to COVID-19 lockdowns and social distancing rules, remote working has been adopted all over the world. As a part of this shift, the Australian office environment will look very different from what we’ve been used to previously.
In the past, some companies have been reluctant to let their teams work remotely. Often, this is due to a lack of trust, supporting technology or company culture.
But is remote working good for companies? When restrictions ease, should workplaces continue to let their employees work from home?
In May 2020, Twitter CEO Jack Dorsey gave his employees the option to work remotely – forever. A recent Gartner survey found that more and more companies intend to shift their employees to remote work, even post-COVID. So what are the advantages of working from home?
``In the past, some companies have been reluctant to let their teams work remotely. Often, this is due to a lack of trust, supporting technology or company culture.``
Here are five reasons why remote teams are good for employers and employees, and why this may be worth considering.
1. Increased retention.
Letting your employees work from home gives them the ability to organise their schedules. As long as they get their work done, it’s their choice when or how they do it. Working from home provides a level of autonomy that is hard to achieve in the office. As a result, employees feel more in control of their workdays, leading to increased job satisfaction and increased retention.
2. Decreased company overheads.
One of the most significant expenses for a company is rent. While having a modern office in the CBD looks prestigious, it can be a drain on overhead budgets. Allowing your team to work from home, at least part of the week, will permit you to cut down on office expenses. You’ll be saving money on rent, office supplies, tea and snacks, energy bills, and other costs.
Some great examples are companies like IBM, which has saved an average of $100 million annually since it began its remote-work program. American Express has also saved $10-15 million in annual real estate costs, thanks to its BlueWork program.
3. Increased staff satisfaction.
Employees who work from home can greatly enhance work-life balance. One of the best things about working from home is saying goodbye to the daily commute. Your team members will be relieved to avoid the long commutes and associated stresses. Avoiding the commute is a huge time saver. It is also an incredible morale booster.
Plus, you’ll also be saving your employees money. They no longer need to spend on public transport or takeaway lunches. And their home office expenses can be tax-deductible.
``Remote working allows you to access the most suitable talent all over the globe.``
4. Access to the best talent, regardless of their location.
Top tech companies have perfected the art of recruiting the best software developers, regardless of their location. Remote working allows you to access the most suitable talent all over the globe.
It’s not just large companies. Small and medium-sized companies can also take advantage of remote working. Some SMEs use virtual assistants to help them run their businesses remotely.
Millennials are particularly interested in working from home. Even before COVID-19 hit, around a quarter of Australian employees worked remotely at least part of the time. Therefore, companies should consider whether having a remote team with the right skills mix would suit their needs.
5. Increased productivity.
A 2015 Stanford study found that one of the best advantages of working from home is that people who worked remotely were happier and 13% more productive.
According to a SurePayroll study, to achieve maximum productivity, 86% of the people surveyed preferred to work alone. However, when working in the office, your workday is often interrupted by calls, meetings, and colleagues coming up to your desk. Working remotely reduces common interruptions and distractions, allowing employees to focus on their work. More focused employees mean higher productivity, which is excellent for your company’s bottom line!
Remote work will be a part of our working lives for the foreseeable future. Whether your employees work remotely full-time or part-time, you can support them to become more productive.
At PEPworldwide, we have developed a Remote Program to help you and your team build productive habits, regardless of working location.
Learn how PEP can help you build good productivity habits and make the most of remote working.
By Simon Nicholls