How Remote Work is Reshaping the Workplace
Throughout the pandemic, hundreds of thousands of employees around the U.S. transitioned to working from home. In many cases, this was necessary to prevent the spread of disease. Now that the worst of COVID-19 is behind us and cities and states are starting to relax restrictions, employers are seriously considering the benefits of offering this option in the future.
When employees work remotely, operating costs go down. Businesses can downsize, or in some cases completely eliminate, their office space. Even organizations that choose to keep their existing office space pay less for electricity and other utilities when a portion of their staff stays home.
It’s not just employers that benefit when employees work remotely. Employees that work from home experience less stress and greater satisfaction in their work. This can lead to better performance and improved productivity. Research from Stanford University found that employees that work from home are 13% more productive than in-office workers.
Employees Want Flexible Work Options
Employers still considering whether they should allow employees to continue working remotely should consider the possible implications of bringing employees back to the office full-time. A recent survey found that 65% of employees would like to work as full-time remote employees. Another 31% would prefer a hybrid work environment and 54% of office workers would leave their job for another that offers flexible work time.
Businesses Relocating to Save Money
Until recently, businesses have set-up headquarters in densely populated cities. This often comes with a high price tag. Today, organizations are realizing the benefits of relocating to smaller, more affordable areas. This lowers the cost of living for employees and allows business owners to take advantage of lower taxes. Allowing employees to work remotely enables companies to further reduce their costs and may allow for the elimination of corporate headquarters entirely.
Companies that decide to re-open offices in expensive areas run the risk of losing valuable employees. Many people cannot afford the cost of living in major cities. Another issue, commuting to and from work costs employees a lot of time and money. With remote work becoming more common, companies that do not offer flexible work options will have a hard time attracting talent and retaining employees.
Conclusion
As we all begin to adjust to life post-pandemic, it’s important for employers to consider the changing needs of their staff. Offering flexible options may mean the difference between success and failure in the near future.
An experienced employee benefits firm, MEBO helps employers create customized benefits plans. Please contact us for information about our services.
