Use the Fact that People Love Working from Home to Start a Business
Are you tired of the rat race, eager to take control of your personal and professional life? You are not the only one. In fact, around 2/3 of people claim they prefer working from home, and more than 35% say they would choose that option over a raise.
When it comes to millennial generation, which represents a significant part of worldwide workforce, it is important to highlight they are more difficult to recruit and retain. However, note that exactly 64% of Millennials reported they are attracted to flexible work arrangements, and they are not alone – there are more than 65% of Gen X members who agree. Both generations feel like they would be more productive, as well as more loyal to their employees. And when you hear this last part, it does not sound so bad, doesn’t it? Taking all of this into consideration, we have listed a number of reasons why you should consider investing in a venture which employs remote workers.
You won’t have to pay for an office space
When you and all of your employees are working from the comfort of your own homes, you don’t have to spend large amounts of money on rent and utilities of your office building. Furthermore, you won’t have to do bulk order for office supplies and you will not be spending any more money on office snacks. Although you might find it strange that we mention this last one, but according to IBM, they have been saving around $100 million annually since it established a remote-work program.
Still, this doesn’t mean you shouldn’t organize an office in your home. Ensure you have a separate room in the house so no one interrupts you during your work hours, choose a large desk and a comfortable chair, and most importantly – invest in a reliable internet provider.
You will have the opportunity to hire only top talent
No office space means you are not limiting yourself to hiring people in your location, but can scout for top talent anywhere in the world. This is exactly what motivated us to start. Remote work reduces geographic boundaries and offers an alternative that comes with socioeconomic and cultural diversity. This is how we managed to gather a talented group of people who are collaborating on a global level to achieve one goal.
The latest study published by Stanford University revealed that people who work from home are 13% more productive than their in-office counterparts. There are no workplace distractions, like casual conversations by the water cooler, or a number of long and unnecessary meetings. Additionally, employees save about 60% of the commuting time when they work from home, and either use that time to work, or rest longer and start their day fresh.
However, we understand there are still employers who worry their remote workers won’t take their job seriously and will slack off most of the time. For this reason, we recommend opting for some of the tools to track your staff’s productivity. So far, we have been using Hubstaff which enables us to see exactly how many hours a day they’ve been actively engaged with their tasks, and our people as well reported it helps them focus and keeps them motivated.
Minimizes unscheduled absences
When an employee calls in sick, it can cost your business more than $1,800 a year, and thanks to telework programs, unscheduled absences can be reduced by 63%. Not only do flexible work hours allow people to run errands and schedule personal appointments without losing a day, but many choose to continue working even when feeling sick. Since they are in the comfort of their own home, they tend to come back to their tasks more quickly after medical issue than people who have to commute to the office.
… and it’s greener!
Last, but certainly not least important reason for opting for a remote work policy, is that this system is environmentally-friendly. With traffic jams producing 3 billion gallons of gas, accounting for 26 million extra tons of greenhouse gases, it is evident telecommuting contributes to saving the environment.
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