Work from home may have emerged as a new trend after the COVID-19 pandemic. However, the seeds for remote work had been sowed way before the outbreak. According to the State of the Remote Work Report of 2019, about 44% of employees who are engaged in IT jobs were already working from home.
This shift towards the work from home model indicates that it comes with its own set of advantages. Here is an overview of the importance of remote work for employees and companies:
Benefits of Remote Work for Employees
Employees engaged in remote work enjoy the following benefits:
Striking Work-Life Balance
As more and more employees work from home, they no longer have to deal with rush hour and tedious commutes. It unlocks several possibilities in terms of how they wish to redirect this time. Resultantly, they focus more on themselves and achieve the perfect work-life balance.
IT jobs are notoriously known for being highly stressful. However, when remote work enters the scene, employees know that they no longer have to put up with relocating for attractive opportunities, commuting, or long hours at work. Not having to attend office also limits their exposure to potentially sick or unwell commuters and coworkers. Therefore, it boosts their overall health and well-being.
Higher Employee Engagement
According to a Gallup study, remote working grants job flexibility, which results in higher employee engagement. An engaged employee will be more enthusiastic, positive, and energetic. Most importantly, they will have a positive outlook on their project and overall employment.
The autonomy granted by remote work allows employees to prioritize the tasks at hand and work in a self-paced manner. It also eliminates any office-related distractions that may bring down their productivity. The freedom to work in a familiar and comfortable environment will also boost their morale and help them deliver better results.
Work From Home Advantages for Companies
Companies can enjoy the following benefits of remote work:
Lower Operations Cost
With remote working staff, companies no longer have to invest in rent, utilities, and infrastructure to maintain a physical office. Interestingly, a survey highlighted how 44% of the workforce in IT jobs would be okay with a 10% pay cut if they get the chance to work from home. Naturally, such trends will cut down operational costs.
Access to Wider Talent Pool
The modern-day workforce belongs to a generation where they can communicate and operate effectively. As a result, companies no longer have to restrict their search for talent within a specific geographical location. Hiring candidates from all over the world grants you access to the top talents at best salaries.
Providing a favorable and nurturing work environment enhances employee satisfaction. As a result, employees are less likely to consider switching their job. The reduced turnover rate also cuts down on the hiring and training costs.
Employees that work from home are 40% more productive, deliver products with 40% fewer defects, are less prone to absenteeism, and stay with organizations in the long run. Naturally, these trends indicate a marked improvement in your company’s bottom line. Furthermore, pair it with reduced operational costs and other benefits, and you will get almost 21% higher profitability!
It is evident that we are currently experiencing a remote work revolution.
When one considers the factors mentioned above, it becomes apparent that work from home benefits companies and employees alike. While 2020 may have accelerated the adoption of a remote working model in IT jobs, it is not merely a transitory phase but a permanent solution.