In the 2020s, upgrading your business structure to allow for remote work is easier than ever. Armed with a custom virtual office package, hybrid working structures, excellent project management software, and a few other tech tools, you can ease into the remote model in style. Whether you employ freelancers or offer remote work to employees, you’ll be in for a host of attractive benefits.
However, some small businesses remain unsure whether it’s the right option for them. Sadly, this can leave you missing out on the plethora of perks this working model offers. If you’re one of the business owners who’s still on the fence, you might be more inclined to leap in after reading these five significant benefits of remote work for small businesses:
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A Global Talent Pool Awaits
Around 93% of self-employed people claim that remote work enhances their prospects of attaining the kind of working lifestyle they aspire to achieve. With so many people motivated to move into a flexible working lifestyle, you have a huge global talent pool to tap into when you choose to employ remotely. This means an inclusive, varied, and highly skilled workforce is right at your fingertips, bringing innovation, fresh perspectives, creativity, and a happier team into the fold.
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There Are Savings To Be Had
If you and your team all work remotely, you stand to save a vast amount of money on the costs associated with a physical office. If you hire freelancers, you can save even more money on physical office space and the additional costs of employees.
You won’t have to worry about paying for sick days, annual leave, equipment, training, and more. Do freelancers cost more than employees? The answer is often “yes,” but not by much. In most cases, the 5-10% more that freelancers might cost is offset by the efficiency, high skill level, ease, and long-term savings from hiring on a per-project basis.
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Eco-Improvements Galore
As a remote employer, you can be proud of being much more planet-friendly than businesses with an in-office workforce. Offices and commercial buildings in the US account for a huge percentage of the nation’s total energy usage. Not to mention all the paperwork, commuter emission contributions, office waste, and other impacts of having a physical office. Businesses focusing on eco-friendly goals can take massive steps forward by choosing a remote working model.
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Agility In Response To Change
More than 700,000 businesses in America closed in the second half of 2020 due to the pandemic. This is without even considering the many more in America and across the globe who suffered due to their inability to adapt to this enormous event. Of course, being remote doesn’t automatically protect you from global emergencies and economic upheavals. However, it does give you more agility, gifting you with a greater ability to adapt should you need to.
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Better Employee Retention
Turnover can cost a business over 25% of an employee’s annual salary. Repeat that multiple times with multiple employees coming and going across a company with a high turnover, and you’ve got yourself a big problem.
Luckily, offering remote work drastically reduces the chance of staff leaving your business. They have a better work/life balance and are healthier, happier, and more loyal to your company. Keeping staff content is one of the best ways to improve your workforce’s efficiency and reduce staff turnover costs. And a flexible schedule with the ability to work remotely is high on the list of things that make modern workers happy.
Are you ready to go remote? If so, get set for a happier, healthier, more eco-friendly, and cost-efficient workforce!
