By: First Union | Date:
Should You Consider Remote Work For Your Employees?
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While traditionally, employees gathering and working within the confines of an office has been the "way to do things," this mentality is shifting. Some studies have shown that employees can be less productive given the office environment, then if they were to be located somewhere else—be it home or a co-work for instance. And another recent survey showed that nearly 99% of US workers say that at some point they will work from home, at least part of the time. Remote work is most definitely a trend that is here to stay!
So as a small business owner, should you make the move and allow your employees to work part or even all of the time remotely…The short answer is yes, and here is how you can expect to benefit from such a change.
Some might contend that there are just too many distractions at home. This, however, doesn't seem to be the case for numerous remote workers across the country. A two-year study done through Stanford demonstrated that remote workers were far more productive than those in the office. You can in part attribute this to the fact that they were not deterred by commuting, meetings or basic workplace distractions.
Think about it, if more employees work from home, then that means fewer resources and furniture you have to supply within the office space. And, if you consider letting more and more personnel work remotely, you could eventually downsize that office or even get rid of it all together thus saving on your rent/mortgage and the corresponding expenses associated with the building.
Employees do love the flexibility of working from home. Another Stanford study done reported that employee retention went up by fifty percent when the staff was allowed to work from a remote location. It has proven to be quite an attractive benefit.
If you're a small business owner in need of additional cash for whatever project you may have in mind, First Union Lending can certainly help. Our business loan programs are specifically developed with small businesses in mind. Call today!