A decade ago, remote work was fairly uncommon. Working from outside the office premises was normally only allowed on a case-by-case basis to meet the special needs of only a few individuals. Nowadays, remote work has grown with leaps and bounds as a result of technological innovation and now provides more versatility than ever before, with employers able to choose from a variety of remote work models.
Why should you adopt a remote work model for your company? Some general benefits are briefly described below.
Effectiveness of the remote work model
As per a CoSo Cloud study, 77 percent of employees are more productive when they work from a remote setting. They spend less time and exertion in traveling to and from the office and more time delivering high-quality work as a result. Airtasker polled 1,004 full-time employees in the United States, 505 of whom were remote workers, about their work habits and efficiency. The findings show that remote employees are more effective than their colleagues physically based at the workplace.
Considerably lower salaries and hiring process costs
Remote team hiring cost is much lower than the amount you would have to pay for hiring a full-time employee. There is also a massive difference in salary in a remote team vs. an in-house team of skilled workers. For example, The App Association has estimated that the average salary of an in-house software developer is over $8,666 per month. Compare that to the cost of a remote developer hired through Aspired, and it can be as low as $3,000 per month.
Much lower operating expenses
Renting office space is one of the most significant fixed operating expenses a company might incur. By implementing a remote work strategy, your company can save money by eliminating the need for costly office space as well as utility bills.
Employee satisfaction may increase
Apropos the American Psychological Association, remote work can increase employee satisfaction when appropriately put into practice. When employees are satisfied, they feel devoted to the company’s goals and are motivated to work more.
Access to a massive global pool of talented employees
Introducing a remote work model for your company can give you the benefit of a much larger talent pool. You can choose from experienced and skilled employees from all over the world.
Remote work is now a common trend
Due to the associated benefits, a plethora of companies is jumping onto the remote work bandwagon. In 2019, the global IT outsourcing market was valued at USD 333.7 billion, with an expected increase to USD 397.6 billion by 2025.
Help stop the spread of illness
Remote work can also help impede the spread of disease, saving time and money while also preserving public health. The outbreak of COVID-19, for example, compelled many employers to switch to a remote work model for all workers in order to contain the proliferation of the coronavirus.
The above points clearly show that having remote employees can be beneficial as a business strategy, but it must be implemented properly. We shall go through three different remote work models to help you figure out the one which better suits your company’s culture. Keep in mind that the whole set of benefits listed above are not applicable to all three models. You can, therefore, pick and choose as per your strategic requirements.
1. Physical company office plus infrequent work-from-home
Employees in this model are expected to work mainly from the workplace, with the choice of working from home on occasion. This model appeals to almost everyone, but it may be particularly useful for busy parents or those who live a long distance from the office. The number of remote hours varies by organization, but the majority of those who follow this policy set aside at least one complete remote day per week.
Employees are given more opportunities to incorporate work-life balance and eliminate the inconvenience of daily commuting in this model. For several workers, the occasional work-from-home strategy offers the needed break in their weekly routine.
2. Remote Teams with a physical office
This is the model Aspired adheres to. It basically means that you hire staff at an office located away from your business location, but one that operates with complete accountability through a platform that tracks all work.
Many businesses support this policy because it allows work to continue unhindered, operating as an extended arm. This allows you to tap into talent located elsewhere with complete control through an HR system.
3. Remote teams without a physical office
Since team members are scattered all over the world, across various countries and time zones, this model is by far the most innovative remote work strategy an organization can implement. Companies that use it are almost certainly remote from the start and have never had a physical office. As a result, this model is a perfect one to consider for leaders who are just getting their business off the ground.
According to Hallway’s statistics, over sixty businesses around the world have adopted this model, and that number will continue to rise as technology continues to revolutionize the world.
One benefit of this model is that it allows an organization to calculate employee wages depending on where they are in the world. For example, if you recruit a Karachi-based employee, their cost of living will be much lower than that of a New York-based one, and therefore they will not need a salary to compensate for it. Buffer and Zapier are two examples of businesses that have been completely remote from the beginning.
How your company can take advantage of a remote team?
More businesses than ever before will benefit from providing remote work opportunities due to modern connectivity options. There is a reason why scores of tech firms have enthusiastically embraced these models, and more are on their way. Some of the world’s most successful organizations have implemented these remote work strategies with great success. If you are concerned about making the wrong decision, review the strategy in light of your company’s requirements at this point in its growth trajectory.
Remote hiring allows businesses to hire talent that may not be in the same location as a particular business. It offers the flexibility to adapt to your specific needs with complete accountability that free you off the traditional constraints of a central office.
The remote way forward
Adding a remote employee team into your business strategy can give you a substantial advantage of cost and other benefits versus your competition. Keep in mind, though, that the hiring process of remote employees is a complicated procedure. You will require a system that can deliver a proper workforce after a thorough screening of applicants. For a streamlined and cost-effective remote team hiring process, it is advisable to use a specialized agency like Aspired; it can put together a team of suitable remote employees in virtually the blink of an eye!