According to predictions, 73% of all departments will have remote workers in the near future. However, 44% of companies still need to allow remote working, even after the accelerated shift to remote working triggered by COVID-19.

Not only are these companies behind the times, but they’re also missing out on numerous advantages that come with hiring remote workers. If your organization needs to leverage a remote workforce, this could inflate costs, driving down access to talent, hurting productivity, and much more.

If your company has yet to tap into the advantages of remote teams, this can slowly eat away at your competitive edge. Keep reading to find out the impactful benefits of hiring remote workers.

1. Reduced Office Overheads

One of the most attractive benefits from a balance sheet perspective is reducing office overheads. Estimates state that employers can save roughly $11,000 per year per half-time remote employee.

Some of the ways businesses can save by hiring remote employees include:

  • Utilities and rent: smaller office spaces (or none at all) can dramatically lower rent and utility expenses.
  • Food: reduced onsite employees can equal lower food and beverage costs.
  • Cleaning services: reduced office spaces and small numbers of employees onsite cut cleaning costs.
  • Taxes: smaller office spaces can result in fewer property taxes.

Another way businesses can save on office expenses is through equipment. Some companies with remote working policies do provide remote workers with computer equipment. However, your organization can save on office furniture, decor, and maintenance costs even if you cover these expenses.

2. Access to a Wider Talent Pool

Another valuable benefit of hiring remote workers is gaining access to a broader talent pool. Instead of being confined by geographical constraints, you can widen your talent search to include applicants from across the country or the world.  This can make it far easier to find the talent you need for specific roles in short time frames. Your compensation packages will become much more competitive and attractive to applicants as soon as you allow remote work.

Employees in central hubs with high living costs have to earn higher compensation to pay living expenses. As you widen your net, you can accept applicants from less dense areas with lower living costs. You may find that your compensation packages out-compete local equivalents by a longshot.

Hiring remote workers can help you fulfil diversity, equity, and inclusion (DE&I) commitments.  This isn’t just good for social equality but also benefits company culture and productivity. Diversity is proven by research to improve business outcomes.

3. Enhanced Agility and Easier Scaling

Because you can draw from a wider talent pool, allowing remote work can also make your business more agile. Instead of waiting weeks to fill a position, you could attract the right candidate within days.

Many businesses with remote working policies implement a mixture of contract work and freelancer teams. In other words, certain team members might be full-time on-staff, while others work freelance or as independent contractors.

This allows businesses to quickly scale back and forth their workforce in response to workload demands. If business growth remains steady, you can hire more full-time remote employees. If business picks up, you can quickly draw on teams of freelance workers.

4. Increased Productivity

For many companies, one of the biggest subliminal blocks to hiring remote workers is the assumption that they’ll be less productive. If no one sees workers at their desks, surely they won’t work nearly as much?

Research shows that this is not the case at all. For instance, one study showed that remote and hybrid workers were 4% more productive than their in-office counterparts. Moreover, those with complete schedule flexibility achieved 29% higher productivity scores.

In other words, allowing workers to have complete control over their hours and work remotely could skyrocket productivity in your organization. One of the reasons for this is that highly productive and creative people typically work better without distractions.

Other stats show that 40% of employees work longer hours at home. These extended workdays are longer by 48.5 minutes on average. This equates to roughly 193 extra hours per year. But remote working doesn’t just make employees work longer hours. Freeing up commuting time also allows remote workers to invest more time into their health and well-being. For instance, 50% of remote employees create time to walk or run outdoors.

5. Happier, More Engaged Employees

Not only are remote employees more productive, but they’re also likely to be happier and more engaged.

Findings show that employees vastly prefer remote working. For instance, 69% of millennials say they’d trade work benefits for more flexible work environments.

A report from Mckinsey found that 87% of workers who’re given a chance for partial remote work embrace the opportunity and work an average of 3 days per week from home. Moreover, 74% of employees state that they’re less likely to change jobs if their current one allows for remote work.

Why do employees prefer remote working so much? Here are a few reasons:

  • Employees may be more comfortable in their own space.
  • They may be more able to juggle work and personal responsibilities, such as picking children up from school.
  • Introverted employees have more energy reserves to focus on their work when they don’t have to deal with co-workers around them.
  • Fewer distractions and workplace power dynamics.
  • Employees don’t have to pack work lunches or buy meals.

Besides these benefits, employees can save on commuting-related time and expenses. Surveys reveal that not having to commute is a substantial plus for 79% of employees. This is understandable, given that the average American has to fork over $4,500 in annual commuting costs.

6. Hiring Remote Workers Is Better for the Environment

The COVID-19 lockdowns didn’t just accelerate the shift to remote working. They also demonstrated how much of an impact commuting has on the environment. During 2020, remote working reduced commuting-related carbon emissions by 97%.

The takeaway? Allowing remote work not only benefits businesses but can also play a significant role in reducing emissions and helping to combat climate change.

Want to Start Hiring Remote Workers the Easy Way?

Hiring remote workers can allow companies to cut down on office overheads, access a wider talent pool, enjoy higher employee productivity and retention levels, and more. But freelancer and remote worker hiring can be challenging. The last thing a professional company wants to do is be scouring freelancer job boards all day, trying to find top talent.

Fortunately, you don’t need to. With Bradford Jacobs, you can enjoy seamless remote talent sourcing. We attract, find, engage, and onboard the best employees for your business needs, no matter their location. If you want to attract and engage top global talent, contact us today.