Telecommuting is a business practice that more and more companies of ranging sizes are adopting. Though, sure, it makes your employees more comfortable, but does it actually save time? Will giving employees that level of freedom actually save you time, and even save money?
The answer is yes.
Here are four reasons why taking on telecommuting can improve your business as a whole.
1. Higher Productivity
Saving time is more about putting that time to better use, and telecommuting kicks productivity into high gear.
– Employees Work More Hours
Studies have shown that employees who telecommute are almost twice as likely to work extra hours during the week, and the work they deliver is at a higher quality. At home, they have the ability to tailor their working environment, structure their days to their own tastes, and avoid that irritating colleague that would normally keep them distracted during business hours. With this kind of flexibility, they can tailor their hours to be more productive and not dread every minute that leads up to quitting time – encouraging them to do more for you.
– Fewer Sick Days
In the same way, it makes employees work longer, telecommuting also takes away the temptation to not work at all. If they have a headache or just want to sit at home in their PJs, they don’t have to call in sick to avoid a day at the office. This office has all those comforts they want. Additionally, the stress of work and the risk of catching germs from colleagues is hugely reduced even if a worker only goes to the office part-time, drastically cutting down the risk of needing that off day because they’re actually sick.
– You Get a Bigger Talent Pool
Some professionals chose to work exclusively via telecommuting, and some extremely talented people may be off the radar because of distance alone unless you’re willing to let working remotely become a part of your business. By bringing in these previously off-limits workers, you’re benefitting from their experience and work ethic that could boost the level and quality of work being accomplished.
2. Less Overhead
By allowing your employees to take their phone and laptop home, you can watch your budget grow more than you ever imagined seeing it.
When your employees are only at the office a few days a week, there’s no need to keep on the lights and the AC for the entire week. The cost-savings of cutting just a few days’ worths of utilities from your budget will make a dramatic difference in your yearly expenses, and if you decide to let only a few of your employees telecommute, the expenses of powering all the equipment will be cut substantially.
– Office Space and Equipment
If your employees only come to the office part-time, only half of them come in at all, or you decide to digitalize your company altogether, that is a wealth of office space and equipment such as desks, chairs, and computers that are no longer necessary. Why pay rent that houses fifteen employees if you can schedule only four or five at a time to work in the space? Why buy fifteen computers if only a handful will do, or you can have your telecommuting workers bring their own?
3. Smaller Payroll
With the number of benefits, you’re offering them in return for working at home, your employees most likely won’t even mind the change in their payroll. Working in their PJs instead of office clothes is a good trade-off.
– Fewer Expenses for Them
You have to account for the cost of living when paying your employees, and when they work in an office, that includes gas, lunches, mileage on their car, the amount of time it takes them to arrive… the list becomes more detailed the more complicated the job is. But with telecommuting, these expenses are no longer relevant. Since these costs are cut for them, you can cut them for you as well, shrinking their payroll to reflect the number of expenses they incur.
– Freedom to Handle Their Work Schedule
Office culture dictates that an employee has to be at their desk for a certain amount of hours, even if they’re only accomplishing something for a few of those hours. By working from home, your employee has the ability to manage their schedule in a way that fits their life but also allows them to get the most work done. So they may be able to do the same amount of work in four hours as they were being paid to in eight; paying them to work part-time is a significant cut to the expenses of their wage, and you’re receiving the same amount of work.
4. Employee Retention
Training an employee and dealing with a lull in productivity as they learn to fill the position is a huge hit to your budget and deep cuts into your productivity. With telecommuting, employees are more likely to stay with your business, ensuring you don’t need to hire a replacement.
– Allows a Better Work-Life Balance
Employees who telecommute report having a better work-life balance, as they can spend more time with their families, take breaks as needed to care for their diet, health, and relationships, and the stress of getting up every day, donning the uniform, and going to the office is eliminated. Why would they want to leave, when their lives are better here?
– You’re Offering Them an Added Benefit
It’s only natural for a worker to want the best they can find. More and more businesses are adopting telecommuting, but not all do. Being a business that offers the benefits and wages you do makes you an appealing option to stay with, but the added bonus of being able to work from home is an advantage another option may not have. You’re offering them something unique, making you the best choice of the batch.
CoWork. Collaborate. Create.
The opportunities are endless! Book a tour today to see if CoWorking is the right choice for you.
Corporate Suites offers the following office services in NYC: