What Are the Benefits of Remote Work for Employers?

As remote work is becoming increasingly commonplace, many employers are now considering if they should keep work-from-home as a permanent option for their team.

Every individual and organization has a different answer to this question. However, if your company hasn’t yet made remote options available, your business may be missing out on some significant benefits of remote work. 

The Top 4 Benefits of Remote Work

Increased Employee Retention and Happiness

When it comes to employee retention, people would usually tell you that one of the most effective ways to retain talent is by offering them great pay. While we agree that is a worthwhile pursuit, employees are looking for more in today’s candidate-driven market. People want to have flexibility, freedom, and fulfillment within their careers. They are looking for jobs that fit their lifestyle and goals. So, how does working from home fit in?

Work-from-home options allow employees to have more flexibility in:

• Structuring their schedules
• Creating a work/life balance
• Maintaining a healthy lifestyle
• Focusing on their family
• When and where they work

Remote workers tend to feel less stressed because they have more control over their work-life and aren’t constrained by strict office hours and commuting to and from work every day.

Companies find it challenging to hire and retain talent in today’s competitive job market. In 2022, many organizations are focusing on employee retention. A great way to keep valuable team members is by ensuring they are happy and satisfied within their role. When employees are comfortable and have the flexibility to work how they want, they are more likely to stay with the company in the long run.

Increased Productivity at Home

Many believe that working from home allows for greater productivity. Stanford University found that people who work from home were able to increase their productivity by 13%. There can be a few contributing factors as to why people perform better at home than working in an office:

• They can work on their own schedule when they are most refreshed, energized, and motivated.
• People tend to be more comfortable at home, leading to better quality work.
• Employees are less likely to be interrupted at home.
• People take less time off when they work remotely.

Empowering your employees to work in an atmosphere in which they are comfortable, organized, and happy is one of the best strategies to inspire productivity among your team.

Lower Overhead Costs

One of the most significant benefits of remote work for employers is the amount of overhead cost your company could potentially save. There are many expenses that a business can reduce with a remote work policy.

According to Global Workplace Analytics, it is estimated that U.S. employers can annually save an average of $11,000 per employee who works remotely 2-3 days per week. These primary savings are attributed to: 

• Lower real estate costs
• Decreased cost for continuity of operations
• Reduced turnover 
• Reduced absenteeism
• Increased productivity

Access to More Talented Candidates

In today’s candidate shortage, having access to a broader talent pool can be a massive boost for any business looking to fill vacancies or simply increase their capacity. 

Companies with remote work policies can have a wider talent pool than companies that only hire people who live or work in their local area. If your company offers full-time remote positions, you can have access to more candidates from anywhere in the U.S. (or even the world). Having access to a nationwide talent pool lets you pick the best talent based on their capabilities, rather than limiting yourself to candidates in your immediate area.

Find the Best Possible Talent in Finance and Accounting

If you’re looking to hire accounting and finance talent, it might make sense to offer them remote work options as a benefit. At BVOH, we have a strong understanding of what candidates are seeking in their next career. We work with companies on a daily basis to help them hire the best talent in the market and fill their open roles quickly. Contact our team at BVOH today if you are looking to hire top talent in accounting and finance and learn more about the benefits of remote work.