10 Benefits of Working From Home for Employers
A business report states that the hybrid workplace model is expected to grow from 42% in 2021 to 81% in 2024. The need for the hybrid models is corroborated by the fact that about 97% of the workers who were surveyed, expressed the desire to work remotely, at least for some part of their work period.
In another study by Forbes, it was revealed that about 16% of the companies already operate fully remotely, without a physical office, highlighting the beginning of a change in the business landscape. However, we need to note that remote work requirements vary across industries. In 2023, the IT sector was the top industry for remote work, with marketing, accounting, and customer service not far behind. People even searched for work-from-home HR jobs.
These statistics already indicate that remote work has become a common sight in companies worldwide. This blog will highlight the benefits of working from home for employers to help you analyze if you need to introduce it in your workplace model.
What is a Work From Home Model?
Work from home is the working arrangement where the employees fulfill their work responsibilities from the vicinity of their home. Since they are working remotely, this arrangement is also known as remote work.
Employers offer work-from-home opportunities often as a supplement to the regular in-office job opportunities. Several companies allow their in-office employees to work from home for a few days a month as part of adopting a more flexible working arrangement.
10 Benefits of Working From Home for Employers
While work from home benefits for employees are well known, many are not aware of its benefits for employers. Let us take a look at some of these advantages.
1. Motivated Workforce Leads to Increased Productivity
Employers witness an increase in overall productivity at the workplace when employees work remotely. A more flexible working arrangement and a brief break from the hectic schedule of the in-office environment for employees allow them to maintain a work-life balance.
It also leads to fewer leaves of the team members. The employer, therefore, gets a satisfied and motivated workforce in their organization.
2. Diverse Talent Pool Gets You Global Insights
A prominent benefit of remote work for employers is that they get to diversify the talent pool of their organization. They can hire the best candidates from different locations without worrying about employee relocation.
Another benefit of hiring people remotely from across the globe is that the employer gets global insights. They gain knowledge about diverse perspectives and markets in different locations. To learn more about manpower planning and recruitment procedures, you can take an online HR course and master the art of human resource management.
3. Better Teamwork With Streamlined Communication
As an employer, keeping track of all the communication becomes difficult in the in-office setup, where you communicate through in-person meetings, video calls, phone calls, and emails. When your employees work from home, this task becomes easy as you get to explore a variety of communication platforms.
One of the benefits of working remotely for employers is that proper communication with their employees enhances teamwork.
4. Saves Time and Increases Efficiency
Working from home allows employees to save the time they spend commuting to work daily. They dedicate this saved time to finish important work-related tasks and meet deadlines.
Employers benefit from this as their work is done on time, which leads to increased efficiency and quality output.
5. More Work Done is With Longer Business Days
Employers can extend the business days by employing remote workers from different parts of the world. As the employees work in different time zones, the employer can ensure some employees work most hours of the day. It is especially beneficial when businesses want to provide 24/7 customer service.
6. Garner Public Support With Positive Brand Reputation
Organizations that allow employees to work from home or remotely are more likely to improve their public relations significantly. Your employees represent your company in the public. A happy and satisfied employee projects a positive image, and more people support your brand.
Therefore, remote job postings attract more applications from candidates looking for flexible work opportunities.
7. Flexibility and Freedom Results in Lower Turnover Rates
Another benefit of remote work for employers is that they can lower the turnover rate in their company by offering employees a remote work option. With the work-from-home option, you not only offer them a flexible work schedule but also the freedom to work from anywhere as per their choice. It gives the employee fewer reasons to resign, and you get a consistent workforce.
8. Inclusivity Attracts More Talent
The modern world emphasizes inclusivity as one of the core values in workplaces. A company that promotes inclusion by providing opportunities to people from different socioeconomic, cultural, and geographic backgrounds is considered to be socially responsible in its approach.
Many talented candidates miss out on the opportunity due to their inability to travel to work every day. You, as an employer, can remove the mobility barrier by offering remote work options to such potential employees.
9. Sustainability Adds More Years to Your Business
By offering remote work, the employer plays a role in reducing the company’s environmental impact. Such workplaces cut gas emissions and energy usage to increase sustainability.
Also, less use of office supplies and disposables reduces plastic waste and saves paper. This will lead to an increase in air quality, adding more sustainability to your business.
10. Save Money With Reduced Overhead Costs
If you are new to business, you must understand the value of saving at each step of your entrepreneurial venture. By hiring remote employees, you can reduce the overhead costs to great margins.
The overhead costs include insurance, rent, legal fees, utilities, accounting fees, office supplies, etc. When you save money on these facilities, you can spend more on other important aspects of your business.
Conclusion
Do you have employees working remotely in your organization? It is a common thought that remote work is advantageous only to the employees, but do not be misguided in thinking it puts the employers at a disadvantage. The benefits of working from home for employers discussed above only emphasize that adopting remote work in the workplace model can bring some significant positives to the business.
Did you find any of these reasons useful? If yes, let us know in the comments section below. You can also read this article on recruitment strategies to hire the best employees to make the best out of your recruitment process.
