Remote work: benefits for employers
Not only do employees benefit from remote working, so do employers. Remote work permits organizations to cultivate diverse and inclusive workplaces that include people from different socioeconomic backgrounds, geographic locations, and cultural traditions. This is often difficult if the company can only hire from one geographic location. An additional benefit of this is that managers can draw from a bigger hiring pool, avoiding the challenges of an oversaturated job market.
In addition, a fully or partially remote organization can save costs. Real estate, utilities, travel expenses, and office materials are all reduced when you remove a company office from the equation. These savings can then be passed along to the employees via competitive benefits and salaries. It's a surefire way to attract top talent.
The combined benefits of remote work prevent burnout and make employees more likely to stay with a company longer. BEST Human Capital & Advisory Group reports that 72% of employers said remote work has a high impact on employee retention, meaning employees are more likely to stick with their company if they have options for remote work.
Employers who have embraced remote work realize benefits beyond cost savings. They're able to keep their employees happy and healthy and improve their overall quality of life. This results in deeper employee loyalty and lower turnover.