The distributed workforce has officially become the “new normal” according to 74% of International Workplace Group survey respondents. In another study by Fuze, 87% of respondents said that flexibility was a critical factor in maintaining a work-life balance.
While it has become abundantly clear that there are numerous employee benefits that flexibility and remote working offer, employers can also gain a lot from these work options.
Organizations that offer remote working have been found to be able to attract and retain workers. With 3.5 million workers having left their jobs each month in 2019, companies are struggling to keep on workers. This can be costly and negatively impact company morale.
Offering remote and flexible working can also cut onboarding costs and help alleviate employee turnover by providing workers the option to work when and where they are most productive. This can also help broaden a company’s talent pool as they are no longer restricted by location.
Remote working has also been found to reduce operating costs thanks to the ability to downsize physical office space. For example, American Express reported saving $10 to $15 million annually, while increasing business output by 43% thanks to its remote work policy.
Another advantage of these policies is their ability to boost work productivity. Research has found that workers are more productive when there are fewer distractions and spend less time commuting. In fact, according to a study from CoSo Cloud, workers reported being 77% more productive when working out of the office.