Retirement plan sponsors are the first, and most important, line of defense in providing employees with well-managed retirement savings plans.
Recruiting and retaining employees in our fast-paced, digital world is no easy task for business owners. To compete in this new era with tech-savvy millennials, the first step is recognizing the evolution of the employee. There aren't many speed limits on technology, so it's resulted in easier ways for employees to communicate, be productive, and deliver services from a remote location. This means it's no longer necessary for every employee to wrestle with a bumper-to-bumper morning and afternoon commute. Sound unconventional? Well, it's becoming the norm for a lot of businesses—3.7 million employees work from home at least half time—simply because it yields huge advantages. Frankly, remote employees are often more productive than on-site employees, which can save companies money in the long run.
Remote or virtual employees are not always required to report to a designated work facility since they can work from home or another location of choice. Sure, you may be used to having all of your employees in a centralized location, but depending on the nature of your business, remote employees may be a very viable option for your business model. While remote employees may not work for all job functions within a company, many companies have found that hiring remote employees can be more convenient, time-saving, and ultimately more profitable. As technology accelerates forward, remote employees will be a more significant component of the future workforce.
You can overcome the negative perceptions of work-from-home staffing models by considering these five advantages of hiring remote employees.
1. More Productive Employees
Employees who work from home tend to have more focus and are often able to meet deadlines ahead of in-office employees. Working independently gives them the ability to raise their productivity since they're not distracted by coworkers or derailed by delays or production obstacles that may arise during the workday. In fact, according to a survey conducted by TINYpulse, 91% of remote workers feel more productive than when they work from the office. Likewise, remote employees are not encumbered with a lengthy commute to work, so they can dedicate more work time by potentially starting their workday earlier and/or ending later in the day.
2. Cost Savings
Remote employees reduce the need for expensive office space, equipment, office supplies and even energy bills. Sure, you may not be able to call impromptu in-house meetings since all of your employees are not located in the same building, but with video conferencing, Skype, Google Hangouts, and a myriad of other telecommuting technologies, it is easy to still have regular interaction with your entire team.
3. A Healthier Workforce
Some remote employees use the extra time in their day not spent commuting to exercise, which ultimately makes them healthier, more productive, and less prone to call in sick or take personal days for doctor visits.
4. Increased Retention
Allowing remote employees to tailor their schedule so that it's conducive to their lifestyle and include more work/life balance will normally be repaid with gratitude and dedication. When employees have flexible work schedules and work for employers that trust their ability to work independently, they are happier and will stay employed with the company for the long-term. This advantage minimizes the need to train new employees or familiarize them with policies and company information, which can equate to a significant time cost and time savings.
5. Minimization of Transfer of Key Employees
If there are internal changes within your company that requires you to relocate offices or expand to additional locations, remote employees will be minimally affected by the move. They'll be able to stay within close proximity to existing customers, so you'll keep a presence in the former location.
So, think about giving your business the green light on hiring remote employees. This should increase employee engagement, reduce costs, and increase revenue. With higher productivity and employee retention of remote employees, your business can run more efficiently, making you glad that you took the opportunity to go down this path.
GIF images via giphy.com
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