Nearly every sector and industry has transitioned to a virtual format. However, shifting from a physical office to remote work was the biggest transition. Working from home and anywhere else isn’t a brand-new idea. A few years ago, it was a superfluity afforded to the lucky ones. But its extensive adoption as a result of the pandemic became a modern job benefit.
Many businesses already had plans to establish remote work environments; however, the COVID-19 pandemic accelerated the whole process. There are several benefits that businesses can enjoy when they decide to hire remote workers. You’ll find remote work beneficial, from using reliable HR platforms for employer of record services to saving costs. Here are more benefits:
Higher Productivity
Many companies report that their remote workers offer increased and stable productivity than their in-office counterparts. Since 2020 when people were forced to work from home, the productivity curve for many workers and companies has been steep.
Most of this has been associated with the elimination of lengthy in-person meetings and daily commutes. People are also able to work during their most active hours, increasing their productivity levels.
Decreased Turnover and Reduced Absenteeism
Remote work has allowed businesses to retain their great global talent and limit absenteeism. When workers believe they can do everything right without being managed, they are likely to develop positive feelings since they know their employer trusts them. As a result, they won’t be tempted to look for greener pastures, promoting a sense of dedication and loyalty.
Use of Employer of Record Services
Currently, companies looking for great global talent don’t need to set up local entities in foreign countries where they want to hire employees. They just need to find a reliable employer of record service provider to help them hire workers, remain compliant and process their payrolls smoothly.
Employer of record services come with many additional functions like managing workers’ insurance and compensation, producing employment agreements, filing employee tax returns, producing employment agreements and providing advice on local talent and employment regulations as well as practices.
Flexibility and Costs Savings
With remote work, your workers can work from anywhere, anytime, not just their homes. Beaches, coffee shops, on transit and other countries are all options for remote workers. Companies can even lengthen operations beyond the standard workday period if asynchronous work is ideal.
Flexible working hours are ideal for all types of workers, ranging from those with children to night owls. This freedom allows companies to hire a small staff while, at the same time, saving costs. Another way remote work saves costs is by renting smaller offices or moving to remote, cloud-based operations. This helps save business money on utilities, office supplies and rent.
