As the remote work trend has no end in sight, companies are quickly embracing this change and adopting fully remote teams. Managing remote teams come with various benefits, some of which are discussed below:
1. Access to a larger talent pool
Companies can hire talent from around the world using remote teams instead of being restricted to the local talent pool. This widens the range of options and makes it possible for businesses to discover the greatest fit for their initiatives. In a Buffer survey, 98% of remote workers said they would like to work remotely for the remainder of their careers, or at least occasionally.
2. Increased productivity and employee satisfaction
Several studies have revealed that remote employees typically are more productive than their office-based counterparts. In fact, according to a research by Airtasker, remote workers often put in 1.4 more days of work per month than office-based workers. Also, remote employees express higher levels of job satisfaction, which is essential for keeping top talent.
3. Cost savings
Managing remote employees can help businesses save money. Companies can cut costs on office space, equipment, and other related costs, for instance. According to Global Workplace Analytics, businesses that permit workers to work from home at least half the time can save an average of $11,000 annually per employee.
4. Improved work-life balance
Employees that work remotely tend to better juggle their personal and professional life. More time can be spent on personal pursuits and less on worrying about the burden of commuting. This may result in greater job satisfaction and better mental health, both of which translate to better work output.
5. Reduced employee turnover
Offering remote work options can lead to a reduction in employee turnover. Employees who are allowed to work from home are more likely to stay with their company long-term. A study by Owl Labs found that remote workers are 13% more likely to stay with their current company for the next 5 years than on-site workers.
There you have it, some of the benefits to managing a remote team. Whether you manage your team in-person or remote, it comes with its own What do you think, are remote teams a long term solution?