I am sure you would have dreamt of work-life balance when it comes to achieving one of your life goals. But how do you achieve such a balance? With jobs moving to cloud, it is no more a dream. You can practically work remotely from anywhere provided you have the right skills that meets industry requirements and a solid internet connection with right tools to effectively work as part of global remote team. Remote work is the “Future of Work”.
Benefits of Remote Work
Remote work provides benefits not only to employees, freelancers, consultants, entrepreneurs but also to employers as well.
Benefits of Remote Work for People:
Flexibility of time:
This is the biggest benefit one can get from remote work. This allows you to have flexible lifestyle where in you can manage your schedule effectively and balance your life chores accordingly to achieve real work-life balance.
Whether you want to drop your kids to school or get your part-time education degree or need to go for doctor’s appointment or any regular ongoing commitments, you can plan and manage both work and personal errands.
Good Health with low stress:
People who work remotely have been found less stressed and are more content with higher morale than their office counterparts. In a report published by the Royal Society for Public Health in the UK, it found that 55% of people felt more stressed as a result of their commute. Snacking habits also increased and with less free time available, the report also found that workers were leading less active and healthy lifestyles.
In a 2014 study by PGi,a leading provider of software services, it found that 80% of remote workers reported higher morale, 82% said it helped lower their stress levels, and 69% reported lower absenteeism.
Increased productivity due to reduced commute time
Remote working saves daily commute time, reduces stress and with flexible time schedule at your disposal, it results in increased productivity. Remote employees are almost twice as likely to work more than 40 hours a week as in-office employees.
Remote working provides an opportunity to work globally with people from various cultures, background and origin. This increases diversity at work and also open possibilities to network, meet and know people from across the world which not only results in increased sense of belonging to global workplace but also open opportunities to learn beyond horizons.
Benefits of Remote Work for Employers:
Reduce Employee Turnover
One of the ways employers can solve the problem of attrition is by providing option to telecommute for their employees. This has been tested and proven as per report published by Stanford University that states that job attrition rates fell by 50%.
A study by Staples Advantage found 76% of telecommuters were willing to work overtime and felt more loyal to their company with the option for remote work and telecommuting. Additionally,80% reported a better work-life balance.
Employers can easily cut down substantial costs by introducing remote work options at workplace. According to Aetna, an insurance giant in America, it shed 2.7 million square feet of office space and as a result saved $78 million.
Higher Productivity with Engaged Employees
Study at Softchoice shows that 74% of workers would quit their current jobs to work for an organization offering remote-work options. Around 69% of workers believe technology has made them more productive and with remote work option, they feel more engaged and committed to perform. This not only increases productivity but also gives results in higher commitment at work.
Source Best Talent
Remote work allows companies to source best of the best talent globally as it is not limited by geographic boundaries. With best talent available, employers can get the work done more efficiently with higher productivity. Also, employers can save costs of on-boarding and pay the same salary and have over per employee cost with reduced turnover.
So, Remote Work can be termed as “Future of Work” with more and more companies will embrace remote talent to get their work done as cited by Future Workforce Report 2018.