September 05, 2022 2 MIN Read

5 Business Benefits of Remote Work

Find out how your company can tap into them

The future of work is here, and businesses are quickly evolving to become more resilient as the workplace transforms. Globally, more organisations are embracing remote work and teams – a decentralised work approach that presents multiple growth opportunities.

Remote work involves allowing employees to work from locations outside of the central place of work, allowing for collaboration across regions and even time zones. Some organisations adopt hybrid models, splitting time between in-office and remote work.

Here are five benefits of incorporating remote work in your operations, whether you are interested in building hybrid or fully remote teams.

1. Access To A Diverse Talent Pool

Organisations that hire remotely have greater access to talent from around the world. When businesses only operate in a specific geographical location, positions can only be filled by individuals in proximity to that area or those willing to relocate there. However, with remote positions, you can get the best candidates and attain a wealth of experiences that ensure success across various political, cultural and social contexts.

2. Business Continuity 

The benefits of a remote team extend beyond the talent you have access to. In the event that business operations are disrupted in one region by instances such as natural disasters or political events, employees in other regions can support the continuation of operations, ensuring that services or products can still be offered to customers promptly. 

3. Greater Employee Retention

Flexibility and autonomy in the workplace are significant drivers of employee satisfaction. Remote work allows for collaboration towards organisational goals from anywhere. It places the responsibility to deliver quality work in the hands of employees without supervisors constantly looking over their shoulders in the office. This cultivates a sense of independence, boosting productivity and allowing employees to take time for personal and professional growth. While employees may not stay with the organisation forever, they are likely to stay longer when happier, ultimately reducing hiring costs in the long run.

4. Reduction in Overhead Costs

An entirely remote workforce often eliminates the need for physical office space. This significantly reduces the costs associated with maintaining an office space, such as rent and electricity, allowing you to redirect these funds to places you need them most in your company. Remote work also reduces commuting costs and time for employees and allows them to save. This creates a win-win situation for the organisation and its employees.

5. Reduction of Stress 

The impacts of remote work create individual, organisational and even environmental benefits. Employees can invest more of their time cultivating better wellness practices to reduce stress on their minds and bodies. They simultaneously reduce stress on the environment by decreasing daily commutes to work and contributing to lowering greenhouse gas emissions.

Clearly, remote work offers a wide range of benefits for organisations. From the ability to build unique teams for collaboration, to improved retention rates, savings on major business costs and overall happier employees, it is essential to start evaluating how your business can tap into the opportunities that remote work offers.

Build your remote team with The ROOM, home to a lifelong, highly specialised community of skilled and early-stage talent that will power the future. We connect businesses of all sizes with our pool of top talent across the globe. By tapping into our diverse community of Software Engineers, Cloud Developers, Data Analysts, Financial Analysts, and Virtual Assistants, we seek to help companies thrive in the new world of remote work.