Remember the time when work-from-home was a luxury for most of us? But today, remote work is the ‘new reality.’ And it is here to stay. The key lies in designing the work-from-home policy that best suits your organizational needs.
So, is your organization remote work ready?
Though managing remote employees is a tricky affair – remote and blended workplaces provide numerous beneﬁts to you and your workforce. Let’s look into the benefits of having a work-from-home policy.
Advantages of having a work-from-home policy
1. No office space expense
Office space rental is a big-time expense for most small and medium-sized companies. Besides, maintenance and repairs cost extra bucks. Work from home allows organizations to save the money on office space which can be utilized for better things – like providing workspace infrastructure for employees, investing in a better collaboration tool, etc.
Not just that remote-work enabled companies can save money on some of the costs associated with onsite business operations, including equipment, and travel reimbursement. Based on estimates from the Global Workplace Analytics Telework Savings Calculator, a company can annually save $11,000 per remote worker who telecommutes 50% of the time. Depending on the size of your business, this could equal significant savings without radically changing your company structure.
2. Hiring the best talent regardless of geographical location
Work-from-home makes your hiring easy. And geographical locations are no longer a barrier when it comes to hiring people from different states or even countries. This means no matter where your potential candidates are from, you can hire them without any hesitation. Also, technology and the internet make it easy to hunt, review, and hire great candidates across the world. There are numerous tools that professional recruiters can use to explore. For instance, there is LinkedIn Recruiter, Entelo, SmartRecruiters, and Glassdoor that recruiters are using widely today.
3. Greater retention rate
Work-from-home policy plays a crucial role in the decision of an employee to either continue or quit a job. And companies that offer this facility see a significantly less turnover than those who do not.
Working from home gives parents who have children and elderly family members the flexibility they need to balance their personal and professional life. Undoubtedly, this plays a significant part in employee retention.
4. Lower absenteeism rate
Studies show that working from home is largely associated with fewer absenteeism rates. The reason being – it allows your employees to take care of themselves and still get the work done. In short, working from home gives them the flexibility they need to set their own routine. And enables them to take care of their kids, elders, or even run errands without taking a full day leave from office.
5. Cuts down travel time
Peak hour traffic and traveling hours together to reach the office is the biggest challenge that employees face every day. But work-from-home policy puts an end to traffic and travel woes. Thereby, proving to be beneficial to both your employees and the organization. Your employees will be happy since they cut down on travel time. This means more hours to finish the work and of course more family time! And for the organization – the work gets done faster.
6. Greater productivity
People who work from home waste less time commuting. They are at your office right when they wake up. It saves money, energy, and acts as a great morale booster.
If you think that the pandemic will affect your productivity and business, then this survey result will amaze you. Airtasker, a gig economy platform, surveyed 1004 full-time employees about their daily productivity. The survey revealed that the office workers reported staying idle for about 37 minutes a day, excluding lunch and regular breaks. Whereas, employees who work from home reported to be more productive and spent only 27 minutes per day being unproductive. And the reasons for maximized productivity while working from home are many. The main one being – employees are in control of their working conditions. For instance, they can keep the room temperature the way they prefer, some might prefer listening to music while they work while others might want to work sitting in the garden and so on…ultimately contributing to greater productivity.
7. Flexible work schedule
A work from home policy allows you to adjust the days and hours of work. This policy is a blessing for working parents who have children and elderly family members to take care of. This means employees can plan their hours of work, take breaks when they want but still get the work done on time. Thereby, contributing to a better work-life balance.
8. Reduced stress level and more time with family
When you work from home, there are minimal or no office distractions. This means you can be at your creative self and also customize your own workplace setup. Did you know? One study found that just adding plants to your workspace could reduce work stress and negative feelings by 30-60 percent.
In addition, work from home allows you to save some extra time each day. Extra time means more time for yourself and for your family. You can catch some extra sleep, read a book, do exercise, or spend quality time with your family. This will definitely improve your physical and mental health.
Finally, create a remote work policy that works for your business
A remote work policy is essential for organizations with remote employees and especially for those who are just getting started with remote work. Instituting a clear policy helps remote employees work from anywhere productively, no matter the situation.
Also Read:7 HR Compliance Policies for Remote Work