Remote work isn’t just a hot topic; 78% of CEOs around the world believe that remote collaboration is a shift that will stay even after the pandemic, based on an analysis conducted by PwC. With top-level tools serving the digital transformation in various industries, the fast paced expansion of remote work is overdue at best. Although there are great digital tools to enable remote work, it is virtual teams who are seriously bringing productivity forward. Here are some reasons why hiring virtual workers may just be everything you have dreamed of for your company:
1. There’s a whole talent pool out there
Location no longer dictates the quality of human capital you can hire for your company. With the remote work revolution, there is access to great talent regardless of the distance. This factor is shifting the hiring upper-hand of different hotspot cities or hubs, giving a level playing field to top notch international workers, while also benefitting companies in multiplying their chances for good talent additions to their teams.
2. Remote workers are more productive
The remote work arrangement along with the fewer distractions and more flexibility actually make remote workers more productive. Based on an analysis conducted by Boston Consulting Group, 75% of employees working from home said that they were able to maintain or improve productivity in individual tasks. The same analysis also shows that social connectivity while working from home improved the collaborative productivity—which is even more beneficial when working with multiple remote workers, or a mix of remote and on-site workers. With all the technological advancement and the tools in the market, remote work can actually cater to a higher productivity of employees working from anywhere.
3. Remote workers save money
Hiring remote workers can significantly reduce costs for the company. Lifesize cites a study that found how a company would save on average $11,000 per employee, should they allow employees to work from home only half the time. And that’s for half the time only! All the money that goes on to office maintenance, stationary, electricity, heating, and other operational costs could actually be saved to hire more workers and gain more competitive advantage.
4. Remote workers take fewer sick days
Various studies found that remote workers actually take fewer sick days. For instance, a study on Paid Leave and Access to Telework as Work Attendance Determinants during Acute Respiratory Illness, found that remote workers worked more days during an illness, compared to workers without a telework option. Another piece of research from CartridgePeople.com shows that remote workers take an average of 2.4 sick days per year, compared to people working from premises, who take an average 2.6 sick days per year. Because remote workers have the opportunity to work at a more suitable environment when feeling ill, they can actually be at least a little more productive then their office counterparts.
5. Better employee retention
It takes a lot of resources to hire a new employee. However, hiring remote staff has demonstrated to be much more beneficial in this regard, as these workers are more likely to stick around for a longer period of time. An article on the advantages of hiring remote workers cites that 95% of companies have reported a positive impact on worker retention because of remote working arrangements. The higher retention rate could be attributed to the different advantages of working from home. At the end of the day, it isn't hard to imagine; these workers do not have to commute to work!!
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