There is no surprise that the future of work is transforming and pointing towards remote work or an increasingly remote Workforce.
Organizations are evolving, and are increasingly considering remote employees, or Remote Open options, while also dabbling with Remote Development Teams and Staff Augmentation services.
However, remote work also carries a few drawbacks with itself. If not done right, it might result in a poor operational structure, unequal balance of responsibility, and lower turnover.
In this blog, we are revisiting the premise of a remote workforce, and how it is turning out to be a better option for businesses adapting to the modern hiring and operational standards.
What Do You Mean by Remote Work or Remote Workforce?
No commute, no “sudden” meetings or office hassles, ease of work, and freedom to work from wherever you want in your comfortable clothes… what’s not to admire about remote work?
This ‘perk’ has been trending across the globe today.
Consequently, a large number of businesses are adopting it to reap business benefits. They are permitting office staff to work from the comfort of the locations they belong to, and some even hire a full-time remote workforce.
A remote workforce works remotely.
That is, from their home, a coworking space, or any vacation home – while delivering on predetermined tasks.
Quick Sidenote: Remote Workforce also entails a Dedicated Remote Development Team, or an Extended Staff (Staff Augmentation), or a Remote Developer – working for your organization.
Quick Plug: Netsmartz offers Managed Staff Augmentation services and Dedicated Remote development teams for software firms.
These remote employees do not have to attend the office – be present physically in the office, but connect over calls, emails, and management tools to work with their colleagues and teams.
The question then is, does it work? Or is it just a pandemic trend that’ll fizzle out?
Let’s look at some numbers.
Remote Workforce Statistics that You Need to Know –
Here we have collected some remote workforce statistics from the world’s most reputed survey reports. Have a look:
- According to Owl Labs statistics report, 52% of employees worldwide work remotely at least once per week. And, 68% of global workers do remote work at least once each month.
- According to the Harvard Business Review, 62 percent of employees believe that working remotely improves engagement, yet just 5% are likely to stay at their current employer for the long run.
- As per a survey report by Buffer, 44% of work staff acknowledge that part of their workforce team is working remotely full time.
- According to Global Workplace Analytics, 4.7 million workforces (3.4% of the employees) work from their remote locations at least half of every week.
- According to stats by Owl Labs, 30% of employees do full-time remote work, 18% work from remote positions 1 to 3 times a week.
Reasons Why Remote Workforce is Crucial for Businesses
So, what is the output? Will this remote workforce revolution be beneficial for your business? The answer seems to be a resounding “Yes” – with an endorsement by FAANG organizations, as well as by the topmost researchers in the world.
This remote working arrangement amps up your business success, specifically through these following aspects:
Researchers state that remote workforces are up to 40% more productive than the workers working in offices and have experienced a boost of at least 4.4% in business’ output.
Employees who work from home are often more productive than those who work in an office. The freedom to establish their work hours allows employees to work when they are most productive, rather than the usual 9 to 5 hours.
Because the hours when an individual is most effective are determined by their personality type and lifestyle, providing a flexible work schedule can boost output dramatically.
Focused Team = Satisfying Results
Remote workers can focus more on their work as they are free to work from a remote and comfortable location without distraction due to the office colleagues’ chats, meeting requests, etc.
Remote workers are free to work based on their schedules. Thus, this flexibility adds more productivity to your business’ output and results in a more satisfying bottom line.
Improved Work-Life Balance
According to emerging research, employees working from home are four times more likely to enjoy an improved work-life balance since COVID-19 began.
Since the beginning of the pandemic, 74% of remote employees said they’d had a better work-life balance.
It demonstrates that remote workers feel valued and achieve a better work-life balance when they have a flexible working schedule & the ability to work from home.
A remote workforce works under strict self-control rules through position independence. It is the reason why such teleworkers produce an outcome with 40% fewer quality flaws. Furthermore, this enhanced performance of employees will boost your business’s overall performance.
Boost Employee Engagement
Enhanced business productivity and employees’ performance generate a more robust engagement, or we can say that there will be a drop of almost 41% in absenteeism.
Inclusion, cooperation, and communication are the three categories that the remote Workforce focuses on. They work well with business owners (whether you or your client) and office workers daily to brainstorm ideas or provide emotional support.
They record or document all critical interactions, processes, and workflows and make them accessible to all employees so that everyone stays on the same track. As a result, there is more transparency in the workplace, which increases employee engagement.
Employees Retention Rate
A few employees replace their present employers with others who provide more work flexibility, which declines an average of 12% in turnover after availing remote work contracts.
In other words, remote work agreement helps in enhancing employee retention rate. So, a business can avail work from their top talented remote Workforce for longer.
Most companies and businesses save an average of $11,000 yearly for each part-time remote Workforce, or in other words, 21% superior profitability for a business.
Note: At this moment, the COVID-19 outbreak is producing market fluctuations that may bias these stats above significantly. In this global health emergency, more businesses are pivoting to a remote workforce. And, if you need to hire a talented workforce for your business, we are here to help you.
Remote Workforce Support by Netsmartz
As a global technology partner, we’ve already offered remote business facilities to many successful entrepreneurs and large businesses worldwide.
With over 1000 team members, 20 years of span in business, availability across 8 global locations, and 2000+ project executions, we at Netsmartz offer remote workforce services to make your business thrive so that you can attain your business goals.
So just stop mulling over outsourcing vendors and consider Managed Staff Augmentation services or Remote Development Teams by Netsmartz, and build your organization’s Workforce for your business success.