Looking to save some money in the 2018 budget? How about $11,000 worth? That is the average amount of money an employer saves annually by allowing just one worker to telecommute half the time, according to a recent report from Global Analytics and FlexJobs. In addition, there has been a 115 percent increase in U.S. workers who telecommute at least part time since the year 2005. While advanced technology drove the trend, it has become a mainstay because allowing employees to telecommute proves beneficial to employers. Read on to learn how remote employees can help your business flourish.
Making the Case for Remote Employees
If you are trying to promote a good work-life balance for your employees, a telecommuting policy could be a game changer. It allows a parent to work from home when a child is sick from school, helping balance family and work life. In addition, employees can run errands, schedule appointments, or make important phone calls without having to take time off from work. As a bonus, employees with flexibility don’t need to take as many personal days, which means more productivity for the company.
The increased work-life balance above equates to happy employees, and satisfied employees stay with their employers. Hiring and training a new employee costs thousands of dollars; retention helps your bottom line.
Having a good work-life balance can make employees’ lives less stressful. Furthermore, people who work from home typically eat healthier meals and can take short breaks throughout the day, coming back more focused. A healthier lifestyle for your employees can help lower health insurance costs.
Imagine how many applicants you would get for a job posting listed as remote. This opens the pool to a diverse range of candidates, allowing you to hire the person you think is best regardless of location. This can be extremely beneficial for fields in which there are shortages or if your company is located in a small market.
More than two-thirds of companies report improved productivity in their remote workers. Employees cite less distractions when working from home. Also, the time normally spent commuting can be better used to prepare for the day and maximize productivity.
Benefits matter when it comes to attracting new talent, and 80 percent of employees consider teleworking to be a job perk. In a job market where quality employees are becoming harder to recruit and retain, it is crucial to offer benefits that help you stand out from your competitors.
Fewer people in the office means fewer lights on; fewer toilets flushed; less paper, ink, and toner for the printer, etc. All of these savings add up. Think of the bigger picture — as your company grows, your office won’t have to, meaning money saved on real estate.
Sure, the savings above are great for your company’s margins, but that’s not all. By allowing employees to work from home, you cut out commutes that can pollute the air and save energy around the office.
If you have the type of company that needs to be fully operational around the clock, hiring folks in different time zones can be a great way to ensure all hours are adequately covered. Technology makes it possible.
One more reason to have remote employees: Your company benefits and so do you! When you aren’t managing your employees in person, you are also afforded flexibility in your schedule and the ability to work from home. If that sounds good to you, just think about what your employees will think. Oh, the loyalty you can build!
Managing Remote Employees
A work from home arrangement doesn’t have to be all or nothing. If you aren’t ready to let employees telecommute full time, you could try one day a week. You could also just implement flexibility for cases when needed: doctor’s appointments, sick kids, car troubles. Test the waters and see what works best for you and your company. And if you do decide to allow employees to work from home, make sure you check out our blog post on how to effectively manage your remote workers. A successful work from home arrangement is built on a foundation of strong leadership, effective communication, and the right tools to foster both.
What is your telecommuting policy, and why? Tell us about it in the comments section below.