The traditional work day and work space are both products of a bygone era. The fact is most people are actually productive outside of the normal working hours. Giving people the ability to contribute when and where they are most productive has a major impact on their relationship with their employer.
And it’s about more than just productivity. A global study of over 20,000 employees found people who worked remotely were able, willing even, to work 57 hours a week before they felt work interfered with their life. Office workers on a regular schedule reached the breaking point at just 38 hours
Why Are They More Productive?
Here are just a handful of reasons:
- Fewer distractions and time drains: noisy co-workers, interruptions from colleagues, water-cooler gossip, etc. are found in a traditional office;
- More effective time management: Email and other asynchronous forms of communication can be time-managed more effectively and are less apt to include non-work digressions;
- Feeling like a trusted employee: A sense of empowerment and commitment is one of the highest contributors to employee job satisfaction;
- Flexible hours: Employees are able to work when they are most productive;
- lncreased commitment: Many teleworkers are willing to ’go the extra mile’ in return for the flexibility.
Remote Work IS A Powerful Retention And Attraction Tool
A meta-analysis of 40+ studies shows remote work increases employee commitment and job satisfaction, and it helps you retain your best people. A full 85% are either seeking, or willing to consider alternative job offers and more than one-third (36%) say they’ve already left a job in search of
What They Want is Flexibility
Rejecting the 9 to 5 routine, Millennials in particular put workplace flexibility at the top or near the top of their job wants. But the reality is that the demands of work and life weigh heavily on employees of all generations.
Most are bummed out, burned out, and stressed out from constantly being asked to do more with less. So they’re looking for control over where, when, and how they work. ln fact, nearly half (47%) would take a pay cut in exchange for flexible work.
Why you can’t afford to lose them
Make no mistake, losing an employee is expensive, and the costs go way beyond recruiting. There are separation costs, temporary replacement costs, training costs, and lost productivity, just to name a few. An employee’s exit can also lead to a loss of customers, co-workers, and knowledge loss.
Experts estimate that turnover costs a typical employer 200% of a lost employees’ salary. With voluntary turnover averaging around 7%, that means a company could expect 70 employees to quit each year. If each was making $75,000 a year ($50,000 plus benefits), that adds up to a whopping $10.5 million a year. Some of that could have been saved by simply allowing them to work remotely.
Use Remote Work To Attract Top Talent
The option to work remotely, part of the time, appeals to 80% of the workforce. THREE OUT OF FOUR EMPLOYEES say the ability to work remotely is an important criterion in choosing a new employer.
What’s more, remote work options expand the talent pool to include employees not just nearby, but from around the WORLD.
Remote work also improves access to otherwise hard-to-reach talent among parents of young children, senior caregivers, the disabled, people in rural areas, military spouses, etc.