A surprising 32% of hybrid workers state they would consider a pay cut to work remotely full time [14]. This reflects the high value workers place on the flexibility and autonomy remote work provides and could potentially impact how companies structure compensation in the future. The age group most likely to work remotely are those aged 24 to 35 how companies benefit when employees work remotely [7]. Within this demographic, 39% work remotely full time and 25% do so part time. This suggests that the younger workforce values the flexibility and autonomy offered by remote work, which could have implications for businesses looking to attract and retain this talent group. When employees start working remotely they sometimes find it strange.
Removing the requirement to live within commuting distance of an office means remote companies often have more diverse and inclusive teams. Remote work gives people who may have a hard time getting a job at a traditional company more opportunities. They benefit from decreased costs and lower environmental impacts to higher productivity and employee retention. Remote work provides clear cost savings for both employers and employees.
The top 8 benefits of remote work for employees
Having a significant number of “work from anywhere” workers, however, introduces new challenges for employee benefits design and administration. Members may download one copy of our sample forms and templates for your personal use within your organization. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organization’s culture, industry, and practices. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRM’s permission. To request permission for specific items, click on the “reuse permissions” button on the page where you find the item.
The concept of being able to work anywhere at any time is more than just a turn-of-the-century workplace trend. It is in fact the future state of work and with technology becoming more advanced, work can be just as effective even though teams are no longer physically in the same room. Many organizations https://remotemode.net/ spend years building the perfect teams of dedicated and talented employees. They also want to be able to hold on to those teams for as long as possible. Remote working has made it possible for employees with mental health concerns and physical disabilities to drastically improve their lives.
Location Independence
Regardless of product, mission, or business goals, it’s the people who drive business success. Who, other than your employees, will shape the products of the future, drive the efficiency of your teams, and see through the growth and health of your business plan? Because of that, the ability to attract and retain top talent is a key differentiator in today’s competitive business world. Remote work can play a positive role in this arena, offering a sense of personal recognition between employer and employee. In fact, 35 percent of employees would change jobs if it meant the ability to work off-site full-time, according to Gallup.
Taylor got into writing because she enjoys writing articles that help people and loves creating stories that inspire. She earned a bachelor’s degree in journalism and public relations with an interest in communications media from Indiana University of Pennsylvania. Abi is one of the co-founders of Himalayas where he focuses on product and growth. In his spare time, he runs a YouTube channel, podcast, and blog focused on strategy and management.
Remote Work by Industry and Occupation
Though a full nomad lifestyle is currently on hold, as borders begin to open up, it’s still a definite perk. Be cautious if you think better access to talent or lower real-estate cost—which the all-virtual model would seem to optimize—outweigh all other considerations. On the other hand, few companies would be better off choosing an entirely on-premises model, given that at least some of their workers need flexibility because of work–life or health constraints. That leaves most companies somewhere in the middle, with a hybrid mix of remote and on-site working. Or consider how quickly two cultures emerged recently in one of the business units of a company we know. Within this business unit, one smaller group was widely distributed in Cape Town, Los Angeles, Mumbai, Paris, and other big cities.
- Remote work, work-from-home, or telecommuting, has exploded in popularity for several reasons.
- According to Global Workplace Analytics, employers who allow employees to work from home part-time save about $11,000 per year per employee, a number that would increase for fully remote employees.
- The future of work, post-Covid 19, is likely to be even more remote-friendly, with more companies offering flexible working arrangements and employees valuing the freedom of working remotely.
- So how could you benefit from a more flexible approach that gives your employees the freedom to work from home?
- While some working women, particularly mothers, may gain from being remote, women tend to see greater penalties when they do so.
Organizations might want to adopt a remote work policy for many good reasons, including economic, social, and environmental ones. And with the rise of high-speed internet and mobile devices, it’s easier than ever for employees to stay connected and productive from anywhere in the world. “The concern is that there is some underlying characteristic of people that is driving whether one wants to become a remote worker, and that characteristic is also correlated to productivity,” explains Choudhury.
