4 Reasons Remote Working Can Save Your Business Money
More and more businesses are looking for ways to switch to remote working. It is popular with employees and has numerous potential savings for any business. Some business owners and managers are still wary of making the switch and are unaware of all the benefits it can bring to their business and their balance sheet. Here are just four of the many reasons any business should consider switching to a remote workforce and how they can save money.
Better Service For Lower Costs
Switching to remote working can make a huge productivity improvement. Employees who work remotely are consistently more productive than their office-based counterparts. This increases your business’s overall capacity, allowing you to do more with the same staffing levels. You can even decrease the level of employees while still retaining the same capacity, or shift some roles to part-time or casual working hours.
From a small investment in software, your workers can begin to operate completely remotely. To make this change, you will need some remote access security software to continue to protect your business from online threats. TSplus offers Remote Access Security solutions that are perfect for managing remote desktop infrastructures and empowering your business with essential tools that keep your data and your team secure. With some simple and low-cost additions to your business’s suite of software, you can maintain or even increase your output while still enjoying the same levels of online security.
Lower Regular Overheads
Office space can be costly to maintain. All the bills add up, just like in a household. By switching to remote working teams, a business can save huge sums of money every quarter on heating, electricity, and maintenance. If you can remove an office space from your company completely, you can save money on renting the space, or if your business owns it you can rent it out to create a new revenue stream.
This can also reduce a lot of risks. Workplace injuries and accidents have the potential to cost businesses millions of pounds. This is not a concern for businesses that use remote teams. Switching to remote teams can have a positive impact on your company’s insurance premiums, adding even more savings to your balance sheet. For small businesses, switching to remote working can be a game changer. For large businesses, the savings can represent massive savings that give you money that can be reinvested into other areas of the company.
Reduce Staff Turnover
Remote working is not just popular with businesses, it is popular with employees too. Remote workers are happy workers and have more opportunities to balance the demands of their life with the demands of their work. Making the switch can massively reduce staff turnover, which can be expensive for any business. Onboarding new staff members, inducting them into to business, and training them for their roles costs money. The longer you hold on to employees, the more cost-effective they become.
Working from home also helps to sell your business to potential employees. Expanding your teams is easier, as you do not have to find space in the office. Offering remote working can help set your business apart from the crowd, and become a key factor in a worker’s decision to apply for a job with you. Many businesses find they can offer less compensation than their competitors, but still get the best possible applicants thanks to remote working. You can get more for less by offering remote working positions.
Forward Thinking, Future Focused
The times are changing. Working from home and managing remote teams is already becoming more common in businesses across many sectors, and soon it will become the norm. Businesses that take steps toward a remote workforce now are stepping closer to the future, and getting a step ahead of their competition. Remote teams are more reactive to changes in the economy and the marketplace, with smaller overheads and flexibility in working hours. As the world changes, your business can react.
In the coming decade, the demographics of workers are going to change dramatically. The ‘baby boomer’ generation is entering mass retirement as more of the ‘millennial’ generation joins the workforce and climbs the ranks of management. Younger workers are much more technologically literate and prefer working from home full-time or in hybrid arrangements. Making the switch to a remote workforce helps to protect your staffing levels through this change, and creates a more attractive workspace for the millennials and the ‘zoomer’ generation that follows them.
Next time you have a managerial meeting, discuss your remote working options. The financial benefits far outweigh any concerns you may have about a workforce that works from home. Making this small change in your working practice can have a positive impact on productivity, reduce staff turnover, and remove many overheads from your balance sheet. As we move further through the digital age, your company may not be able to afford not to switch to remote working.