The Benefits Of Remote Work For Your Business

The COVID pandemic of 2019 has increased remote work to an all-time high. There are more digital nomads than ever before, as the days of being confined to an office have passed. Even the most seasoned multitaskers may find remote work challenging, but the benefits far outweigh any obstacles it may pose. In order to begin, let’s clarify what remote work is and how it is conducted.

A remote workplace is defined as a place where career-minded individuals can work from, whether at home, at a friend’s house, at an Internet café, or even on the road, such as in an RV. Work can be accomplished remotely as long as the internet is available. Remote work is sometimes referred to as WFH, which means to ‘work from home.’ But you should not let that fool you, as remote work can be accomplished at any time from any place, unless otherwise stated by the employer. There are even those who refer to the practice as telecommunicating. There is no predetermined office location with remote work, which allows you to be flexible. The decision is left to your discretion.

Benefits of Remote Work: Employees

Telecommunication has many advantages. Benefits can be beneficial to both the company and the employee. Although in some instances, the employee may benefit most from this modernized approach to office work. Let’s take a look at what each has to offer. Firstly, let’s discuss five important benefits for the employee who chooses to work from home.

1. No commute is required. Due to the absence of a commute to a regular office each day, this provides the employee with a considerable amount of control. As a result, this reduces the amount of time and money spent. Your time becomes your own once again, since you will not spend between 1 and 3 hours per day commuting to and from a physical office. In addition, you will be able to put more money in your pocket, since you will not be spending a fortune on fuel. Furthermore, by eliminating a commute, you reduce the amount of pollution emitted from your vehicle; thus, your remote job is more environmentally friendly.
2. Your work-life balance will see improvement. With a flexible schedule, you are able to work at any time of the day that is convenient for you. By doing so, you will be able to increase your productivity throughout your workday. You can create your own shifts both on and off the clock, which is especially beneficial if you have a family. The key to remote work is control, and you are in the driver’s seat. 
3. The space in which you work is under your control. Having the ability to work remotely gives you a greater sense of control over your surroundings. The same applies to your office. The majority of corporate offices are designed to maximize space by placing multiple desks in close proximity to one another. As a result, the corporation is able to accommodate several workers in one space. When you utilize remote work, there is no confined space for you to work in, nor are you bound to your colleagues. In terms of the size of your office, you can either create one that is spacious or cozy. As opposed to typical corporate settings, your wall colors do not need to be white. Add pops of color and design it to your heart’s content. The most important thing is that you are comfortable with it.
4. There is a reduction in excessive expenditures. Take a moment to consider this. In order to work in an office, you will need appropriate attire. To commute, you must either fill up your gas tank or charge your electric vehicle. In the case of lunch, you will either have to bring something from home or order a hot meal. Then there’s coffee, right? Whether it is at Starbucks or Dunkin Donuts, this is a must for the average person. The cost of childcare may also have to be considered. As you can imagine, all of these things can be quite expensive, especially if you are paying for them on a regular basis. Working from home allows you to reduce these expenses to a minimum. Your pantry already contains food that you can eat. Leggings or sweatpants will suffice, as office clothes are not required. It is not necessary to fill up your gas tank or charge your smart car, as you will not be using them. Due to the fact that you are at home, you are able to take care of your children while still performing your job effectively. By reducing all of these unnecessary expenditures, you will be able to increase your savings and stretch your paycheck even further.
5. Decide where to live. In the case of a digital nomad, there are no restrictions as to where you and your family can live. COVID has resulted in the relocation of millions of workers since its inception. A family-friendly community or a location with lower living expenses may be of interest to you. The best part is that the decision is yours and yours alone. As there are no mandatory requirements for corporations, they do not have a say in the matter. Any property that offers (high-speed) internet is a potential candidate for your new home, provided it meets certain criteria. In the event that you decide that one location is not for you, RV life may be the best choice. No matter where you choose to live or what you decide to do, remote work enables you to do just that. There is an endless variety of options available.

Benefits of Remote Work: Employers

Due to the availability of an array of benefits and privileges associated with WFH, there has been a rapid increase in employers offering this option to current office workers. Here are five advantages for corporations that provide their employees with such freedom. 

1. Talent pools are much larger. By working remotely, individuals from all over the world can apply for positions at a company that might otherwise be out of their reach. It is due to the fact that the corporation has not imposed physical restrictions on where an individual must live in order to be able to work remotely. A talent pool that is not restricted is available to those living in the United States as well as those living on the other side of the world. As a result, employers are able to extend beyond their normal barriers to uncover the very talented individual that fits the mold in which they seek employment, thereby improving diversity, equity, and inclusion (DE&I) in their workforce. 
2. Corporations reduce their overhead costs. As a corporation hires more in-house employees, more office space is required to house them. By allowing employees to work from home, corporations are able to lower their overall overhead costs and may be able to spend that money elsewhere. 
3. Employee productivity increases. Employers and employees alike will benefit from this arrangement. It has been found that providing employees with the opportunity to work remotely can increase their productivity by over 30% on average. There are instances when this can be as high as 50% for remote workers. Employees are happier as they have more control over their work-life balance, as well as controlling distractions in their workplace (home).
4. The retention rate of employees is at an all-time high. This is one of the most challenging issues facing corporations today. Employers may be able to attract the perfect talent, but how do they retain that talent? Apparently, remote work is the solution that corporations have been seeking. As employees value the ability to work in a flexible environment, the WFH approach has resulted in the highest retention rates. In this case, the four walls of their home provide them with that flexible environment they desire.
5. The communication process is more organized. Corporations that utilize remote work opportunities have a greater ability to streamline their communication processes. Instead of holding in-person meetings, sending emails, and making phone calls, employers may offer one platform through which all communication can be conducted. It eliminates the difficulty of keeping up with a large number of different forms of in-person communication that a company may be required to conduct. Thus, communication is improved, and employees are more organized as a whole.

Irrespective of whether you choose to explore remote work or not, this pivot to WFH is here to stay. With global companies expanding, more and more are dipping their toes into the modern-day concept. In terms of careers, there is no “one size fits all” approach, whether in the workplace or at home. As we explore a new level of technology, perhaps you may wish to give it a try. Who knows? You might find remote work to be your best career move yet!