You may have pondered, at some time or the other, how to reduce the day-to-day ballooning costs of running your office. Inflation and a multitude of other factors all seem to play a collective role in sending overheads and salaries through the roof. Of course, as a conscientious business owner, you would not want to sacrifice quality or efficiency in the quest for cost-effectiveness.
A pertinent concern may be for how long you can continue to play your company against equal-sized or even larger competitors who are all fighting for limited full-time talent and costly office space. Suppose I told you that there is a way to help reduce the cost of your business while also getting extra advantages like enhanced productivity and access to a diverse set of skills? It is quite simple, really: just hire a fully remote team.
Companies in the IT, e-commerce, and e-learning industries are among those benefitting from the fully remote approach. It is calculated that today there are over 100 entirely remote businesses with ten or more employees. One of the biggest all-remote organizations is GitLab, a wholly remote corporation with 1,100 workers in over 60 nations.
While it is natural to have some misconceptions about remote work, the benefits of using remote employees far outweigh any alleged limitations, as you will see below.
The Rewards of Having a Fully Remote Business Team
By utilizing a remote team, you can save money in the short as well as long term. The hiring cost of remote workers is substantially lower than the salary of an in-house team.
For example, the average salary of an in-house website developer in 2021 to around $150,000 per year, as calculated by human resource consulting firm Robert Half International. Did you know that a remote professional hired via Aspired can cost less than half of that sum?
Rental and Related Costs
One of the most significant recurring operating expenses a firm can face is the rental costs of office space. A remote work strategy can save your business a lot of money since it removes the need for expensive office space, electricity bills, and reliable internet connectivity. You will also dispense with the need for expensive computer hardware and software.
A Multinational Talent Pool at Your Behest
One of the most difficult issues that companies encounter is finding outstanding staff. By choosing a remote team, you can increase the size of the accessible talent pool. You will then have a higher chance of recruiting the best minds because you can recruit individuals from all around the world.
Rationalized hiring and training
Trying to recruit full-time employees is a time-consuming and expensive process that entails numerous steps such as gathering applications, assessing resumes, and conducting job interviews. All of these human resource procedures can be handled for you by a remote hiring firm, saving you time and potential frustration.
It will also cost you money and effort to regularly train your in-house employees in the most up-to-date technology and applications. If you engage remote employees, you won't have to worry about such costs.
Potential for focused work
Like most employers, you probably appreciate work that contributes to the company's goals. Having a remote setup can help to drive this productive mindset. It shows that you are more interested in output versus location. Employees are expected to deliver on a regular basis even if they are not physically present on-site. They must accept responsibility for fulfilling the goals that have been set for them.
Pay for specific work
When you hire anyone to work in your in-house team, you must compensate them on a full-time basis. With remote staff, on the other hand, you only have to pay for the services you've outsourced.
Employee Retention no more a Problem
New employment openings may be attractive to many in-office employees. You should consider this as a disadvantageous situation, as it can be difficult to hang on to highly qualified workers if they have this attitude. In case one or more critical in-house experts leave unpredictably, your company can suffer a setback. A remote setup can help you avoid such a possible problem, as it is the remote hiring agency's responsibility to maintain the employee pool.
Possibility of Around the Clock Work
If a business has only one location, work usually takes place within business hours at that site. In the case of a remote team spread around the world, however, various members can work rotating shifts at any hours of the day and night. This might be extremely useful for businesses with a broad customer service base that spans multiple time zones.
Workplace absence is one of the issues that most businesses face, and despite the fact that many workplaces have an absence management policy in place, reducing absenteeism is sometimes difficult. Occasionally work can stop altogether due to a lack of workers in the office.
If you have a remote team, the remote hiring company will provide replacements for any employee who calls in sick. In effect, your work does not stop.
Virtually "Virtual" Expansion
When you need to scale up your remote team, there is no need to finance infrastructure development for new hires. You can instead virtually expand the team and spend your estimated budget on other important things.
Rounding up the advantages
When you sum up all of the above savings, you're looking at a significant reduction in business costs, as well as other benefits associated with it. As remote employees are clearly the more cost-effective alternative, it's easy to see why people would prefer to hire them instead of in-house staff.
Where can you find the right remote team?
You may be wondering by now where to begin the search for a remote team of experts. It can be tough to find full-time remote employees who match your business requirements. Hiring managers often use a variety of techniques to look for capable remote employees.
To begin the search for remote employees, you can take a look at LinkedIn and other job boards, or even online communities. It can be a time-consuming and perplexing process, however, as you would be looking at literally thousands of job seekers.
Another option is to check out freelance websites such as UpWork and Fiverr, where you may review the résumés of possibly hundreds of freelancers with variable levels of experience and expertise. This approach may be successful with single freelancers but can be problematic when hiring remote staff.
Thirdly, you can partner with a reputable remote hiring company such as Aspired. These specialized companies can provide an accurate and custom-built recruitment scheme for your remote worker search. They can handle all the hassles which may be met while putting together a remote team. These specialists can help you find a variety of experts with the knowledge and experience your company needs.
Converting to a Fully Remote System
You must be quite clear by now about the benefits of transitioning to a fully remote workforce. The flexibility that this cost-effective business model provides is likely to boost the output of your company. While the remote workforce hiring process is not always straightforward or easy, the long-term benefits are likely to be game-changing for businesses that make the decision to let go of their conventional workplaces. Aspired can help you understand more about remote employment and how to use it to unlock your full potential.