Benefits of Hiring Remote Workers
3 Reasons Why Hiring Remote Workers is a Smart Business Move
Following the global rise in remote work, many businesses are adjusting their workforce strategies to fit the new ‘world of work’. If you are still unsure how to hire remote workers and where to find them, CXC is here to guide you.
(Not) Working 9-5…
Not so long ago, remote work was not the go-to form of work for many companies. Guided by the 9-5 workweek, companies were more comfortable having all (or most) employees in one office, working off the dedicated 40 hours a week, hiring mostly local staff – employees were being ranked by the hours spent in the office rather than by their total contribution to the business.
Introduced by Henry Ford in the 1900s, 9-5 workweek used to sound appealing to most workers at that time who were used to working at least 12 hours a day. It has been over 100 years since and many still believe this is the way to go.
Initially, most companies had doubts about remote work, especially centred around the issues of productivity, cost and compliance. How would you know if they are truly working? How would you measure their performance? Where would you even find them? All those questions intensified during the Covid-19 pandemic.
Although it is clear why many employees prefer to work from home, some businesses are still not convinced if this would work for them. If you are still deciding whether you should continue remote work post-pandemic, CXC brings you the top 3 benefits of hiring remote workers.
Welcome to the Era of Remote Work
According to a report by Global Workplace Analytics, remote workers are 20-25% more productive than their office counterparts. Similarly, a recent research by Stanford studied 16,000 workers over 9 months and found that just working from home increased their productivity by 13%.
Essentially, giving your employees the ability to choose when and where to work will significantly increase their performance and productivity. Why?
- Employees can nurture their strengths: Not everyone is the most productive from 9 to 5. Remote work enables employees to intelligently manage their time and task, prioritising urgent items and not thinking about the time restriction. Also, it enables employees to practice mindfulness and routines that increase their productivity and complement their lifestyle.
- Employees feel appreciated: Remote work promotes trust, improves communication, and drives autonomy. With flexible work arrangements you are giving your employees the ability to feel in control of their work and enabling them to create their own ideal work environment.
- Employees are less distracted: Your employees will be less distracted if they can pick their own schedule that best fits their working style. Essentially, your goal is to help them remove interruptions to be more productive.
The Business Advantages of Hiring a Remote Workers
We have covered why and how remote work is beneficial for your employees. Now, we will look at how it can be beneficial to your business.
- It reduces your business costs: According to recent studies, businesses hiring remote workers on an average save USD10,000 per employee each year in real estate cost! Additionally, scaling back on standard office costs (such as furniture, bills, office supplies) enables companies to save close to USD2,000 per annum. Just think about it – if most of your employees work remotely, do you really need that huge office?
Furthermore, during the traditional 9-5 workweek, employees “waste”, on an average, 8 hours per week on non-work-related tasks. If you hire remote workers, the actual billable hours are those spent working on the projects.
Find out how CXC can help you reduce your costs.
- It increases your retention rate: Recruiting, training, and engaging new employees requires a lot of resources and time. By the ned of that process, you want them to stick around. Embracing remote work arrangements can help you do exactly that – retain your employees. As per recent studies, 95% of businesses have reported that remote work has had a positive effect on employee retention.
- It increases your talent pool: Looking for employees in one specific location can limit your results tremendously. Broadening your search parameters and considering global talent opportunities, you are more likely to fill in open roles faster, with better talent and through a more cost-effective process. The global talent demographics have changes significantly and now include more Millennial and Gen-Z talent who value flexibility and are highly tech-driven. If you want to attract the best talent, you must consider the value opportunities you are offering.
CXC’s comprehensive workforce management solution streamlines the hiring process and ensures you are in compliance in the host country. As regional labour markets and regulations change, our solutions ensure a streamlined approach to workforce management regardless of talent source, as well as clear accountability for all stages of a contingent worker’s contract through a single provider – all aligned to your HR strategy.