At this stage in 2022, it’s clear that most employers are offering at least hybrid, if not remote, work environment options. While studies have made it clear that the COVID-19 pandemic has caused a shift in employee and jobseeker values, you may still be on the fence about where you stand on this issue.
Let’s look at some undeniable benefits that offering remote work flexibility can provide your organization.
1. Access to a much wider talent pool
Removing geographic barriers widens your potential applicant pool considerably.
Consider Silicon Valley – employees in the technology industry may have been open to paying the high rent and living costs of the area previously, but now with companies like Google tightening their remote work policies after years of flexibility, those same employees may consider younger companies that offer fully remote work.
In fact, a survey of 1,097 professionals by the anonymous network Blind showed that two-thirds of respondents were dissatisfied with Google’s plan to require at least three days of in-office work.
While this is just one example of a company that may lose talent due to a lack of remote work options, the fact is that recruiting on a global scale opens you up to top talent that may have been overlooked earlier. As an employer, you can now focus on a candidate’s qualifications without caring about their commute.
As an added bonus, remote work increases your chances of having a diverse and inclusive organization – and DEI is something that is becoming increasingly important around the world! (Read more here on inclusive hiring practices.)
2. Decreased operating costs
Let’s face it – before the pandemic, many employers would have laughed at the idea of a fully remote workforce. It wasn’t just the mindset but the idea of implementing remote onboarding and introducing new communication and management tools – it all added up quickly.
However, COVID-19 forced most organizations around the world into adopting all of these practices. Now that they are in place, it’s time to focus on the costs that were reduced by remote work. Rent, of course, is the number one factor, but there are also bills, cleaning services, office snacks and drinks, and other smaller expenses that are all eliminated by remote work.
3. Increased productivity
A recent two-year study by Great Place to Work® of over 800,000 Fortune 500 employees showed that most respondents reported stable or increased productivity levels after working from home.
By allowing employees to build their schedule with a little more flexibility, workers can design their day around other responsibilities and are more focused and productive during their working hours.
This same flexibility also leads to less absenteeism. With the pandemic shining a spotlight on physical (and mental) health, workers are far more likely to still work from home if they feel a little under the weather – versus the idea of going into the physical office with the sniffles? Unlikely.
While eliminating water cooler talk can cause social isolation (especially in new hires), it also limits distractions. This obstacle can be overcome with a greater focus on onboarding and company culture overall.
Interested, but not quite sure where to start? Check out our 5 best practices for remote and hybrid hiring.