Remote work opportunities are on the rise, translating into benefits across the board for staffers and employers alike, according to new research. Retention and morale are first on the list of favorable aspects enabled by working remotely, followed by increased productivity, cost reductions, and access to more human resources.
A comprehensive infographic by Accountemps reveals that 68% of CFOs at large companies are beginning to see some major prequisites as a result of working both in and out of office. The firm carried out the study on 2,100 US-based CFOs at organizations big and small, with staff count ranging between 20 and 1,000.
Matters more if you’re big / less if you’re small
The findings were somewhat predictable, but interesting nonetheless. 36 percent of the executives in charge with the firms’ finances said the company’s remote work opportunities had increased in the last three years, with 12% of them noticing a massive uptick, while 24% noticed a modest spike. 49% said there was no change in operations and / or expenses as a result of remote working, mainly because some types of businesses simply require desk-bound staff for maximum productivity.
Another finding was that remote working posed advantages relative to the size of the organization. Perhaps not surprisingly then, only 34% of the chief financial officers at small businesses saw remote work opportunities take off in their sector.
A happy employee is a staying employee
As far as the actual benefits, first on the list is morale, coupled with a higher retention rate. 35% of respondents said there were clear improvements in this area, making it a key metric to observe whenever remote operations are concerned. More than a quarter of the participants ticked “increased productivity” and “reduced commute” time on the list of gains, these two being well tied to one another.
15% said they noticed substantial cost reductions as a result of using less office space. Lastly, remote operations also enable access to a broader pool of talented applicants, an aspect outlined by as much as 10% of the surveyed execs.
How to set up a remote workforce
The numbers speak for themselves, but employers need to carefully review their expectations and the particularities of their organization before upgrading their workforce to remote working conditions. The researchers at Accountemps say the first thing you need to do is determine which roles are eligible for telecomuting and which aren’t.
Supervision needs to be minimal in order to get something out of it, so choose your most reliable employees for the program. Participants must be sure to understand the parameters, including potential changes in their schedule as a result of remote working. Security is also high on the list of priorities. Participants must be trained to spot and avoid malware, as well as to protect your firm’s confidential information.
See the infographic for the full research findings.