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Working remotely: the benefits for your business and employees

The covid-19 epidemic has drastically altered the composition and functioning of society. Nothing since World War 2 has had such a consequential influence on all of our lives on such a global scale. If history teaches us anything, it is that significant events have the power to cause long lasting change. Take 911 as an example. After this event airport security regulations were transformed around the world. A similar trend is predicted after the covid outbreak. As companies around the world locked up and retreated back to their homes to work from their desk, a trend has emerged. This is especially potent among start-ups, as they are starting to realise the benefits associated with working remotely. This trend is likely to continue on into the post-corona world. This is not necessarily a bad thing, as this article will demonstrate, there are many advantages attached to working from home.

Working remotely increases productivity

Many startups have embraced their employees working full time from home and are seeing the benefits from this trend come to life. A study conducted by UK based startup network Founders Forum, analysed startups experience in the UK with working remotely. Contrary to common perception, the study reveals that working from home, in fact, increased the productivity of more than half of the startups analysed. They also noted that 55% reported working longer hours, increasing the work they get done. Another study by a California based company Prodoscore, revealed a 47% increase in worker productivity through remote working.

Employees have been reporting a better work-life balance. This is due to having more flexibility in their working routine. Additionally, employees are having to spend less time preparing for work, due to not having to get ready for a working day as they did in the past. As well as not having to do the dreaded commute or waste time in endless traffic jams. This means they spend 8 hours of their day working, instead of 10 for example. Employees end up working a true full day shift, instead of being late to the office, or leaving the office early. This facilitates the increase in productivity rates, as employees can get to work as soon as they wake up, when they are freshest and most productive and don’t waste any time in their day.

Working from home has also proven to be less distracting. With employees claiming to find it easier to concentrate at home. Working in your office with your colleagues around presents multiple opportunities for distraction. However, by working alone in your office space with no distractions, productivity levels soar.

Working remotely reduces stress

Stress within the workplace is a common occurrence among adults. Of a 2020 survey conducted on British adults, 79% admitted to commonly experiencing symptoms of stress in the workplace. However, when employees work remotely, they tend to feel less stressed. Demonstrated by a survey conducted by Staples, which highlighted that work related stress among employees reduced by 25% when they began working from home.

This could be put down to employees feeling more comfortable in their workspace. As working remotely facilitates a more relaxed working routine, due to being able to work from the comfort of your own home, not having to even properly get dressed if you don’t want to. This leads to a calmer more productive state of mind and reduces stress levels. The flexibility that comes with remote work also plays into this. As in 2018 FlexJobs conducted a study, in which 97% of people said that having a more flexible working schedule would have a huge positive impact on their quality of life.

Less commuting

As previously mentioned, by not having to commute employees save time. However, this is not the only benefit associated with working remotely. From a health and wellbeing perspective, commuting is not good for you. The UK Office of National Statistics has affirmed that “commuters have lower life satisfaction, a lower sense that their daily activities are worthwhile, lower levels of happiness and higher anxiety on average than non-commuters.” This only worsens when on the commute employees get stuck in traffic. There have been multiple studies taken which analyse the effect that being stuck in traffic has on your body. With data revealing that the stress induced from traffic jams increases your chances of suffering a heart attack. The study claimed that when stuck in traffic, drivers chances of having a heart attack an hour later increase threefold.

The lessening of emissions of co2 released into the atmosphere is the other principle benefit that derives from not commuting. Which given the rate at which our planet is heating up, is a very positive side effect to remote working.

Working remotely saves money

Working from home also saves companies money in rent, which in global cities like London is only getting more and more expensive. An example of this was recently highlighted by Forbes, which calculated that American Express saved $10-$15 million annually in real estate costs, due to their expansion in remote working.

However, remote working does not just save companies money. Employees also save a considerable amount of money. According to Total Jobs, on average, workers traveling to London spend £305 a month, which equates to £197,377 over their whole lifetime. This presents another very attractive advantage to remote working.

Recruit top talent

Previously, companies could only hire within their given geographical locations. However, with employees predominantly working remotely, companies can hire more globally. This enables companies to hire top talent that they would not normally consider. This means businesses can hire the best candidate for the role through a larger talent pool. By hiring the most qualified experts in their field, it aids the success and development of the business.

Decreasing rates of absenteeism

With employees working remotely, if they feel too unwell to make the journey to the office and sit at their desk all day, instead of taking the day off they can continue working in the comfort of their own home. This will reduce the rates of absenteeism within companies. CIPD conducted a survey, which found that absenteeism dropped by 56% when employers started adopting a flexible working routine.

Factorial’s time tracking software- ideal for remote working

Although remote working has many benefits attached to it, difficulties can arise within companies. Managers may find it difficult to track the hours their employees have worked and monitor employees productivity levels. But have no fear, Factorial is here to help! Factorial’s time tracking software efficiently and effectively solves any remote working related problems that arise. With our time tracking software, managers can see how many hours their employees have worked for, as well as being able to undergo shift management, by viewing people’s time off and who is working remotely. This time tracking software enables employers to track employees’ working hours daily and approve or reject their timesheets to better manage employee productivity. It also aids the reduction in absenteeism by monitoring employee attendance, so they know when and where employees are working and can track missed hours.

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