In most cases, remote workers are more productive. For example, a Stanford study found that performance increased 22% when employees switched to remote work. A survey conducted by HR and workplace benefits consulting firm Mercer found that 94% of the 800 participating employers felt productivity was the same or even higher since the switch to remote work.
The increase in productivity is likely owed to several factors, including the lack of a commute, the inability to engage in small talk with colleagues and fewer distractions. However, it’s also a matter of a better work-life balance. When working from home, people have more time for their family and for the things they enjoy, thereby experiencing a higher quality of life.
It also helps reduce costs as fewer onsite employees would require less office space. This would reduce rental costs as well as other expenses, such as utilities, stationery, and other items related to office work.
According to Global Workplace Analytics, a company can save more than $11,000 per year for every employee who spends half their time working at home.
Larger Talent Pool
In addition, by offering remote work, employers gain access to a far larger pool of talent. When employees can work from essentially anywhere in the world, employers are no longer limited by geographic considerations.
While remote work may be a highly desirable benefit for employees, it offers employers so many advantages that it should become a priority. Not only will companies save money, but they’ll also be able to access a larger pool of talent and more easily attract and retain top employees.
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This article is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice. © 2022 Zywave, Inc. All rights reserved.