Whether or not companies return to a more traditional work model post-COVID-19, remote and hybrid working are here to stay. Business managers must understand the trends driving this shift to ensure their organization is prepared.
Here are some of the top benefits of remote hiring: It’s an opportunity for talent to access jobs they would otherwise miss.
Flexibility
In the past, if you wanted to hire for a job that required a physical presence, interaction with others, or location-specific equipment, you had two choices: hire locally or hope that your candidate was willing to relocate. With remote work, however, you have a much broader pool and can hire talented professionals like those at ADP.com, regardless of where they live.
Moreover, remote working allows employees to work where they are most comfortable and productive. It can be in their homes, co-working spaces, or even coffee shops. For many employees, this provides a more positive workplace experience, increasing job satisfaction, lower absenteeism, and fewer sick days.
Another benefit of remote hiring is that it can help reduce overhead costs by allowing companies to save on office space, furniture, and technology. Furthermore, employees can use their own devices, further reducing costs.
Finally, shifting to remote hiring can also help reduce recruitment and relocation expenses by opening up a global talent pool. It can allow companies to hire a more diverse workforce and create a better culture. The resulting diversity can improve productivity and overall company performance and increase team morale and engagement. In the long run, these benefits can be worth the extra effort and expense of managing a remote workforce.
Cost Savings
In addition to the cost savings offered by not having to pay for office space, remote work can save your company money on commuting expenses. Depending on where your employees reside, they can save hundreds of dollars monthly. It can be a great selling point for candidates looking to increase their paychecks. It can also improve employee retention, as studies have shown that people who work from home are less likely to leave their jobs.
With so many advantages, it’s no wonder many companies are shifting to a remote working model. But before setting up laptops in the living room, you should first understand how a remote working model can help your business and assess whether it’s the right choice for you.
In addition to saving money on rent, you can save even more by reducing or eliminating expenses such as utilities, food, and supplies. You can save by not investing in expensive hardware like computer monitors and headsets. For smaller businesses, this can mean huge cost savings that can be re-invested into new hires or other growth opportunities. The lack of overhead can expand the pool of available workers.
Access to Talent
Working from home is no longer just a perk or something that employees can do if they need to deal with bad weather or personal matters. It’s the new normal for many businesses, offering key advantages to companies that embrace it as a long-term business strategy.
With remote work, you can recruit talent from a much larger pool of applicants. This is especially important when filling positions with hard-to-find skills or specialized expertise. A geographically diverse workforce also brings additional diversity to the workplace, enhancing innovation and problem-solving.
A remote workforce can save companies money on overhead expenses. You don’t need to pay for a large office space for every on-site employee, nor do you have to provide desks or supplies. It is now possible for employees to work from a home office, a spare bedroom, a local coffee shop, or any other location that allows them to concentrate on their tasks. It can help reduce staff costs by minimizing absenteeism. Employees working from home tend to be more satisfied with their jobs, leading to increased productivity and fewer sick and vacation days. It can reduce the need to pay overtime and other staffing costs. Additionally, hiring freelancers on a project basis through platforms can lower costs by enabling you to try out candidates before making a full-time hire.
Increased Productivity
Remote work allows employees to work from home or anywhere away from the office, creating a more comfortable and productive environment. Many people find that working remotely will enable them to focus more on tasks at hand, thus increasing productivity by reducing distractions and eliminating the need to take a break from work or leave the office for personal reasons.
In addition to lowering costs, a remote workforce can help businesses increase their productivity through greater flexibility and access to talent. Many companies are already leveraging the power of a distributed workplace to achieve more efficiency in their operations. For instance, the work initiative released traditional full-time workers from fixed roles and allowed them to choose their projects. They also set up virtual collaboration tools to brainstorm with coworkers in different locations and time zones.
A unified future of work strategy is crucial for any business to survive disruption. HR leaders should develop a strategic plan to create innovative ideas, take quick action during change, and improve employee engagement and employer branding.
A comprehensive future of work vision and strategy should include an assessment, a prioritized list of trends and potential disruptors, and a roadmap for implementing these changes. Identifying and understanding these trends can be done through a variety of methods, including external research (e.g., outside experts, industry-specific trend reports, search engine alerts), a premortem exercise, or internal sources such as progressive business leaders, leadership team meetings, board and executive meeting minutes, and customer and employee surveys.
