Warning! Your Business is Losing Money by Not Using Remote Employees.
Thinking of Hiring a Virtual Assistant?
There is no getting past the fact that working from home and having workers work from home have both become essential components of today’s workforce. The epidemic has ensured that it will happen. Many businesses that, under other circumstances, would have been forced to shutter their doors have been able to remain open because of the availability of remote work options.
There are even corporations that have made the decision to shed their physical presence and transition to becoming organizations that operate entirely online. Even once the pandemic threat caused by Covid 19 has passed, one thing is certain: working remotely will continue to be an option.
Employees have gained an entirely new way of working thanks to the availability of remote work opportunities. They have recently begun to wonder whether or not it is necessary for them to endure the ordeal of commuting to and from work each day. According to the findings of the fourth annual State of Remote Work poll conducted by Owl Labs, the majority of respondents (77%) believe that they would be happier if they were able to continue working from home even after they retire.
The same poll discovered that if there was no possibility of working from home, one in two workers would not go back to their previous occupations. Let it settle in for a moment.
If, in the future, your company does not make provisions for remote work and personnel, you might anticipate the following financial consequences:
You are spending on real estate that you don’t need.
During the course of the last year, we came to the conclusion that the majority of office duties can be performed efficiently and in a comfortable manner from any location. For the most part, workers in these positions do not need to be physically present at their place of employment in order to provide high-quality results.
Why have a full-fledged office space if the job is being done and your workers are happy working from home? If the work is getting done and your employees are happy working from home, why keep it? You will never have your office operating at its maximum capacity of personnel, even if you switch to a working style known as hybrid work. This is something that is unavoidable.
The cost of commercial real estate might be prohibitively high. It’s possible that your capacity for office space is no longer enough for the needs of your company, unless you run a global corporation with millions of dollars in annual revenue. You might reduce the amount of space used by your physical footprint and work in a more compact workplace.
The amount of money you save on operating expenditures and leasing expenses as a result of this is an amount that you just cannot disregard.
You are spending way too much on recruitment costs.
Let’s face it — recruiting is costly. Regardless of whether you use the services of a recruiting agency or conduct the search on your own, you will wind up paying a fortune before you locate the ideal applicant. The potential cost of employing employees in the traditional manner is extraordinarily significant, which is something that the vast majority of firms are unaware of. When recruiting on campus, printing a recruitment poster or distributing it digitally for the purpose of hiring works well. However, when hiring remotely, all you need is access to references and a fantastic connection on LinkedIn.
The expenditures associated with hiring a new employee, providing them with benefits and bonuses, providing them with work equipment, etc., continue to drive that figure even higher. In most cases, the total cost of the procedure will exceed both your expectations and the amount that you are willing to pay. If you were aware of this information at the outset, you would most likely consider hiring remote workers far sooner.
If, on the other hand, you move to recruit top personnel from a remote employee marketplace, you open the door for your company to save significant amounts of money on recruitment expenditures. If you use a platform like this, you won’t have to wade through hundreds of applications that don’t meet your requirements; instead, you’ll have the ability to pick and choose the applicants you want to interview.
When it comes to the recruitment of remote workers, employee marketplaces for remote workers provide completely managed services. You are just responsible for paying for the task itself; everything else, including salary, benefits, hiring, and so on, is handled by them.
You can practically go shopping for remote workers that have high levels of competence and expertise without having to spend a fortune doing it. Isn’t it a fantastic offer?
You will lose your best employees to businesses that offer remote working options.
The employees that are employed by a company are the most valuable assets of that company. And since workers valued the opportunity to maintain the flexibility afforded by working from home, many of them would abandon their employment in search of positions that would let them do so (at least partially).
72% of respondents to a poll conducted by PwC stated that they would want to be able to work from home at least two days per week, and 32% of respondents said that they would like to be able to work remotely full-time. These data make it very evident that a sufficient percentage of workers would be willing to abandon their jobs if their employers did not make it possible for them to work from home at least sometimes.
If you do not provide employees the opportunity to work from home, you will almost certainly end up losing a significant number of your finest workers. Any company that is expanding should make it a priority to hold on to its talented employees rather than risk losing them to other companies or, even worse, to rival companies.
The notion that people quit their employment because of their managers has a long tradition in the field of human resources (HR). In point of fact, the opposite is true. When they are unhappy in their present position, the vast majority of workers hunt for other employment opportunities. They are dissatisfied with their compensation, the opportunities for advancement, the flexibility in their work schedules, as well as the location from where they conduct their business.
Employees are reluctant to give up the opportunity to work from home because of the many advantages it offers them. If it came down to it, they would really quit their employment rather than be forced to give up the opportunity to work from home.
You are losing out on the increased productivity that remote work enables.
According to the findings of a cost-benefit study conducted by Global Workplace Analytics, workers who were able to do their jobs from home were, on average, 20-25% more productive than their office-based colleagues. Working from home may help people be more productive in their day-to-day jobs, and this benefit has been shown as well as made readily apparent.
The majority of workers find that being able to work from home results in fewer interruptions and distractions. This is the time that they would have lost as a result of their daily commute, casual talks with coworkers who stop by their desk, and conversations that take place around the water cooler. Working from home gives them the opportunity to concentrate more fully on their job.
Additionally, it provides individuals with a feeling of control over how they operate and how they spend their time throughout the workday. Working from home offers an inherent degree of freedom, which many workers value highly and find quite valuable. It enables them to keep a healthy balance between their personal lives and their professional lives, which is something they really need.