Remote work means happy workers, and a happy bottom line for companies that no longer have to contend with high turnover rates, says Joseph Boll, CEO of Remote Worker, a jobs board and digital recruitment service designed to help hiring managers and businesses connect with jobseeking professionals for remote work positions.

“We’ve repeatedly made the case for the benefits of remote work for both staff and employers,” says the CEO. “Seemingly endless data has shown that remote workers are generally more productive than staff working in-person, especially considering they take fewer sick days.

“From an employee’s standpoint, they also get to save thousands of dollars on commute and lunch costs, while getting the benefit of greater work-life balance and the ability to spend more time with their families. There are lots of reasons for remote work to be as high in demand as it is — and it is absolutely still very high in demand, whether or not businesses use this to their advantage.”

According to a recent study by Gusto, a payroll solutions company, flexible work options — such as the ability to work remotely — is actually the major deciding factor for jobseekers when it comes to either declining or accepting a job offer. In both cases, nearly half of the respondents of the 800 HR practitioners and 700 employees surveyed said remote, or at least flexible work, was the ultimate deciding factor for them.

Gusto also found that companies are “seeing an increase in remote or hybrid employees”, with businesses increasingly “offering flexible working options to keep pace with employee demand for flexibility”. However, the group also underscored that companies that offer remote or flexible work are reaping benefits accordingly.

Boll says, “For businesses, remote work actually impacts their bottom line in multiple ways. Dozens of companies that have gone fully remote since the pandemic no longer have to face costly property rental fees or electric bills. Many were even able to cut business travel costs because of the remote environment.

“Beyond this angle, having remote workers also helps companies’ bottom line. Firstly, happy, productive employees are a boon to any organization looking to stay on top, be the best and outshine their competition. As a plus, happy employees are also less likely to join ‘The Great Resignation’ or ‘quiet quitting’ and leave the business with a costly, high turnover rate. From both angles, businesses stand to gain tremendously by embracing remote work.”

Companies that choose to offer remote work could potentially save more than $80,000 per year per employee in turnover-related costs, according to Gusto’s data, which notes, “Companies that offer remote work are seeing benefits in reduced employee turnover.”

Additionally, it suggests that “being a fully remote worker correlates to as much as a 13 percent decrease in the odds of quitting within three months of hire”.

“For example,” Gusto explains, “in a scenario analysis, offering fully remote work could save a business up to $84,000 per year in replacement and productivity costs, per technical worker.”

Commenting on those figures, Boll concludes, “This study should compel businesses to seriously consider what’s in their best interest.”

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About Remote Worker (US)
Remote Worker is designed to help hiring managers and businesses connect with job-seeking professionals for remote work positions. We are affiliated with Remote Worker (UK), ClickJobs.io and Caribbean Employment Services Inc. For more information, visit https://www.remoteworker.jobs or contact [email protected].