While remote work was not a foreign concept before, the pandemic has definitely accelerated its rise and widescale, global adoption.
In fact, statistics show almost 70% of full-time employees shifted to a remote work setup during the pandemic. Consequently, 16% of companies around the world have opted to operate fully remotely, and 73% of office departments will likely have fully remote workers by 2028.
Even as the world recovered and opened up again, the benefits of working remotely have made quite a lasting impact that numerous companies worldwide have permanently shifted into having a remote work setup or have adopted a hybrid arrangement. According to Ernst & Young’s Workplace Index, around 60% of companies have already implemented a hybrid model.
Aside from the obvious advantages of flexibility and convenience, here are four benefits of remote work that have transformed how professionals and businesses operate in today’s corporate world.
Employee performance and business productivity increased.
A study conducted by Harvard Business Review revealed that remote workers have higher productivity levels than their on-site counterparts. The study cited that this is because employees are happier, more satisfied, and more laser-focused. They are also less inclined to take sick days or quit altogether.
Another survey done by FlexJobs, a job portal for remote and flexible job opportunities established in 2007, found that remote workers are 35% to 40% more productive than employees working in offices.
Improved employee happiness and satisfaction led to higher retention rates.
According to a report by Forbes on how remote work affects business output, 88% of employees said they felt happier working from home after the pandemic, 86% said the flexible setup allowed them to support their families better, and 82% stated their overall mental health has improved.
All these benefits – and the fact that employees save on commuting costs and avoid the stress of commuting daily – have helped lower employee turnover rates at companies that offer remote work options.
Businesses gained access to a more diverse and global talent pool.
Businesses that operate without the limits of a physical office have gained access to a richer, more diverse, and global talent pool. Companies can headhunt staff members based all over the world, which also allows them to keep a lean operational model.
In addition, a PR Newswire survey showed that companies without a corporate headquarters were 33% faster in hiring new employees, were able to optimize their hiring process, and even attracted top talent globally. Apart from increasing retention rates, remote work policies have also led to stronger employee loyalty.
Companies enjoy guaranteed and enhanced business continuity.
With a remote work setup in place, companies can ensure that their operations will continue regardless of local or international scenarios. During the pandemic, even while companies and cities shut down, business operations could still continue due to remote work.
However, to ensure seamless remote operations, businesses must invest in the necessary technologies and infrastructure. These include having communication apps designed for online meetings, project management systems that track productivity and progress, and security systems that prevent data leakage to safeguard important company data accessed and stored in each remote employee’s systems.
Conclusion
The pandemic was a black swan event that virtually shut down the whole world, but it is also the catalyst that drove the global adoption of remote work – a system that has been proven to be beneficial to both employees and businesses. From increased employee productivity and satisfaction to a more agile and cost-effective operational model, remote work offers significant advantages that have changed how people work for the better.