Remote work is becoming increanigly popular and the coronavirus pandemic accelerated it. Because of the pandemic, everyone was pushed to work from home and while the concept of working from home wasn’t new, the shift showed people the potential of working remotely.
And now that people have gotten a taste of what remote work feels like, not many are willing to go back to how the normal office day world looked like before the pandemic.
There are many ways employers and employees have benefitted from the global implementation of remote work.
How Remote Work Benefits Businesses
● Remote Work Helps in Accessing a Wider Talent Pool
The most significant advantage of building a remote workforce is hiring at a global level. You have access to an extensive talent pool since geographical restrictions no longer constrain companies. This enables you to hire people solely based on their skills and expertise.
● Remote Work Boosts Employee Retention
Job satisfaction and happiness are two critical factors that people take into consideration while looking for a job. And right now, remote work has become a lifestyle preference, with 55% of remote employees saying they would look for another job if they were no longer allowed to work remotely.
Taking this a step further, 81% agreed that the freedom to work remotely would make it more likely for them to recommend their company to a friend.
The ability to work remotely shows employees that they’re trusted and makes them feel like their employee cares, which builds loyalty towards the company.
● Remote Teams Foster Diversity and Inclusion
When you have a diverse workforce, you diversify the way your business operates and the different skills your team brings to the table. This helps you stay one step ahead of your competitors simply because you have a more creative workforce.
In fact, businesses with an inclusive culture are eight times more likely to achieve better business results, three times as likely to be high performing, and two times as likely to meet or exceed financial targets.
● Remote Work Lowers Business Expenses
With a remote workforce, certain savings are evident, like the money required to maintain an office infrastructure. But adding to those obvious savings, hiring remotely also means you can take advantage of the reduced cost structure that comes with your employees’ cost-of-living standard.
A Global Workplace Analytics report states that each remote employee saves a company around $11,000 a year.
Source: Global Workplace Analytics
Now that we’ve looked at the various benefits of hiring remote employees for business, let’s now talk about how employees benefit from working remotely.
How Remote Work Benefits Employees
● Remote Work Offers Freedom & Flexibility
Employees have the freedom to start and end their day according to their schedule. They can choose their work timings, which gives them a control over their work life and makes them less likely to burn out. It also helps increase their productivity.
Remote work also promotes a healthier work-life balance. Employees have the flexibility to get their work done faster and make time for their families. They have the freedom to attend their child’s parent-teacher conferences or work out in the afternoon!
● Remote Work Reduces Commute Stress
Employees don’t have to deal with the stress that comes along with traveling during peak traffic hours. By taking commute out of the equation, employees have seen a significant improvement in their mental health and overall happiness.
Additionally, it also helps them save time and money that can be better utilized to improve their quality of life.
● Remote Work Offers Location Independence
Having no set job location gives people the choice to travel and live their life as digital nomads.
Remote working allows people from rural areas and small towns to grab opportunities irrespective of where they live. You no longer have to live in or near a metropolitan area to have the job of your dreams.
Turing is an AI-based platform that allows software developers to land the job they want and work from anywhere in the world as fully remote employees.
If you are an engineer skilled in Python, React, Golang, Agular, Swift, Android, Java, Rails, DevOps, PHP, Node, Vue, data engineering, machine learning, or any of the 100 or so options Turing offers, you should definitely sign up to apply for remote US software job opportunities.
● Increased Productivity & Performance
By working remotely, people now have the freedom to focus exclusively on getting their work done, increasing productivity.
Empowering people to create their own workspace allows them to build their own ideal workstation, thereby boosting productivity and performance. Employees experience fewer distractions since there are no interruptions from coworkers, and they can work in a less noisy environment.
What is the Future of Remote work?
Remote work is not just a passing trend; it’s here to stay. As technology advances, new location-independent opportunities are emerging in different fields. The future of remote work has evolved in ways we couldn’t have anticipated a few decades ago.
Here are a few things you can look forward to.
● Coworking spaces
Coworking spaces existed for a while, and the industry was hit hard when the pandemic first struck us. Now, the pandemic has simply solidified its demand as a preferable workplace solution due to the increase in remote workers.
Though coworking spaces seemed like a trend that would fade over time like most others, the global coworking space industry is expected to reach $13.03 billion by 2025.
Coworking spaces have evolved from just places dedicated to working; the industry has now tailored itself to offer comfort and accommodation. From practical amenities like food and drinks, soundproof conference spaces, and hot desks.
● Travel working
With vaccines rolling out, people will not just continue to work from home. Many have already started embracing the digital nomad lifestyle in the Covid-reformed world, including working from forest cabins, beach cottages, and spaces outside the expensive metropolitan regions.
People can now hold reputable jobs in high-profile companies while traveling to different parts of the world for extended periods.
● Freedom to take on multiple projects
Since people will not be constrained by traditional office hours, they now have the freedom to take up freelance projects or part-time opportunities.
● Condensed work weeks
Taking advantage of the freedom remote working offers, people have started experimenting with shorter workweeks. Hyper-focused working for less time during their most productive hours can yield the same output as a traditional workday in the office.
People are more productive working remotely than expected, and with the perks that come with it, it’s safe to say that remote work is not going anywhere.
In fact, into the future, we can see companies take remote work to the next level with 24-hour work cycles. With an international team of workers, businesses will adapt to full-day work cycles where they can expect at least some form of operation happening at every hour of the day.
While we may never know for sure what the future holds, it’s obvious that remote work will play a significant role in evolving the way the corporate world functions.
Jaya is a Copywriter & Content Writer and has worked for businesses in over 27 different niches. She’s written over 200+ blogs till date and when she’s not writing, she can be found obsessing over a book.