Why Working From Home (Remote Work) Is Good For Business?
Working from home or remote work is no longer a bonus or luxury to offer employees; it is now a right for them to handle their work-life balance. In today’s hypercompetitive talent market where more millennials and Gen-Zs are active, it is critical to guarantee that your employees have work flexibility and are therefore will be extremely productive and gratifying.
Offering flexibility to highly qualified talents can result in retaining talents for a long tenure, and improved employee satisfaction which will attract further talent to the company later. Embracing remote talent brings diversity to the workplace and broadens the knowledge and skill sets of your team. If you are still skeptical about hiring remote talents, have a look at this informative article where you can learn in detail the benefits of hiring remotely in lieu of local talents.
How is hiring remote work benefits for employers?
1. Wider talent pool, less gap between demand and supply
Remote hiring will let you tap into global talent pools where highly skilled, diversely knowledgeable, and proven candidates will be open to work. Selecting the right fit for your team will be easier when you can attract more profiles from different locations. You can avoid the bottlenecks of lack of local resources, faulty local education system, higher salary range, and any other hurdles you must face while looking for local talents.
2. Save money on office setups
Hiring remote talent means that you’ll save money. For instance, Global Workforce Analytics estimates that employers can save nearly $11,000 annually per employee if they embrace the remote culture. You don’t need to set up expensive office space and you can easily cut down the costs of security, amenities, refreshments, recreation facilities, cleaning, maintenance, and more. All you’ll need is a computer and an internet connection. You can pay less for remote talent than you would for local talent. You won’t have any overhead costs, so you’ll end up saving more.
3. Avoid relocation costs and pay less to remote talent
Obligating your employee to relocate to your office location involves lots of costs and sometimes it might be the company’s responsibility to bear them. If you are hiring remotely, obviously you will be able to get rid of this headache. Hiring remote talents from affordable labor market countries like India, Mexico, Pakistan, Philippines, etc can strike off the onsite salary range to a lower range. For the same job responsibilities, you might need to consider the cost of living in the countries where your employee will be residing for work while deciding the pay. By leveraging remote talents, you can think about paying less to the worker based on comprehensive market studies.
4. Remote talent is easier to hire
If you want to hire remote talent, you’ll only need to look online. There are many websites where you can post jobs and search for people who fit those requirements. You’ll never have to spend time looking for candidates yourself. Most skilled candidates will be ready to work for you if you are flexible for remote work culture; hence, the hiring process will be easier compared to conventional processes. Remote workers don’t need to worry about commuting time or traffic jams. They can be hired anytime, anywhere.
5. Remote talent is more flexible
Remote talent is more flexible than local talent. You can change their schedule whenever you want. You can give them breaks whenever you want. You don’t have to worry about them unexpectedly getting sick or taking off. You will be able to decide the working hours and the amount of work to be done while dealing with remote talent.
6. Diversity in the workplace
Hiring from different countries will bring diversity to your existing workforce. Employees from different cultures, races, and religions can enhance social values and inclusiveness in the workforce. Diversity in the workplace has proven to be a great factor in promoting a company’s healthy work culture, boosting team morale, better client support, diverse perspectives, and hence the effectiveness and productivity at work.
It can be concluded from the aforementioned advantages that working with remote talent instead of depending on local talent can bring a lot to the table. Keeping this new normal in mind, Global Squirrels brings the most accessible and innovative SaaS platform which speeds up global expansion more simpler. Using this platform, you can hire remote talents and manage their international payrolling process compliant with federal and local government guidelines. Eliminate the struggle of compromising with available local talent and know how to find ideal talent from anywhere, anytime!