Fad or Not: Is There Value in Having My Team Go Remote?

By Denise Chan

Life-Of-Pix / Pixabay

Like zip up hoodies, decked out office spaces, and beer on tap, remote work has been made hip by startup companies everywhere.

Last year, 43% of all Americans reported that they spent at least some time working remotely. And the number will only grow as young professionals seek out remote opportunities.

Most millennials – 85% – say that they want positions that allow them to work from home every day of the week.

There are whole job boards, like We Work Remotely and Remote.co, dedicated to helping candidates find remote work opportunities.

But many companies are still on the fence.

This year, we’ve seen some big players pull back on remote work or even actively double down on physical office spaces. IBM, once a champion of remote work, asked 2,600 of its marketing employees around the globe to transition back to working in the office. Apple is wrapping up construction of its new five billion dollar headquarters that spans 175-acres. Yahoo and Reddit already banned remote work a few years back.

So what is it? Should we have our teams work whenever, wherever? Or are we destined to be confined to the desk?

Why Remote Might Be in Your Company’s Future

1) Unlimited Access to Talent

When Groove’s CEO, Alex Turnbull first started hiring for engineers, he had a lot of trouble finding talent in the Newport area.

There just weren’t any candidates that had the right mix of skills, experience, and culture-fit. But once he widened the search to the rest of the country, Alex made two hires within two weeks.

Remote recruiting opens up your talent pool. You can source from a broader range of candidates across the country and perhaps even the world, making for more diversity of culture and experience.

2) Workaround for Rising Real Estate Costs

A remote team also means less overhead. With rising commercial real estate costs in most major cities, especially in New York and San Francisco, this means you can rack up a lot of savings and reallocate it towards talent and research and development.

Health insurance company Aetna has been using remote work for the past 20 years. To date, more than 31% of employees telework.

Over the past few years, the company has seen real estate savings between 15% to 25%. Because employees are commuting less, Aetna has also seen a significant reduction in the company’s carbon footprint. Teleworkers drive 65 million fewer miles per year, reducing carbon dioxide emissions by over 23,000 metric tons each year.

3) Building A Team That Sticks Around

It’s been proven that remote employees are happier and healthier.

Surveys show that 40% of remote workers sleep more, and almost two-thirds say they exercise more. According to the American Management Association, companies that offer telework programs see a 63% reduction in unscheduled absences.

Giving employees the freedom to build their own schedule allows them to work when and where they’re most productive. Whether that’s on the beach, at a coffee shop, or late in the Go to the full article.

Source:: Business 2 Community

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