More and more businesses are making the leap to the virtual office and the remote worker model. Those who work remotely as well as those who manage remote workers understand that productivity and employee satisfaction can be increased through flexible work arrangements.
As part of their recent study “Work Without Walls” Microsoft surveyed business owners large and small on remote work options. Their survey found that more than 50% of big companies had formal remote-working policies in place. In addition, 60% of the employees surveyed said they could do their jobs from home and 72% preferred to work-from-home.
This growing desire on the part of employers and employees speaks to the major benefits of remote work – increased productivity, increased worker satisfaction and decreased costs. The President’s Council of Economic Advisers, as well as The Telework Coalition, found, in separate surveys, that the virtual office and remote worker arrangement works best for all involved.
U.S. Government Notes the Benefits of Remote Work
In Work-Life Balance and the Economics of Workplace Flexibility, released in March 2010, the President’s Council outlines the ways the nature of work is changing. The report found that flexible work arrangements like virtual offices reduce absenteeism, improve the health of workers, and increase productivity.
The report also points out that with increased employee satisfaction, cost savings also come from lower recruitment and replacement costs. Workers with more flexibility, like setting their own work hours or working from home, have higher job satisfaction and loyalty to their employers. Without this flexibility, workers are more likely to seek employment elsewhere, and this turnover costs a company. A study cited in the report said that hiring costs an average of $2500 for each individual, or approximately 3% of the total annual labor cost of an employee.
TeleWork Coalition Shows Money Saved By Virtual Offices
The cost savings for remote working doesn’t stop there. According to a report from The Telework Coalition, businesses save an average of $20,000 a year for each full-time employee who works remotely. The cost savings come from the reduced need for physical office space, infrastucture, and office supplies.
Speaking of productivity, the report also shows that remote working increased productivity by an average of 22%. Remote working also reduced employee turnover by 50%. Both lead to increases in profits and decreases in costs.
Getting Started With Remote Working
Remote working with a virtual office model is within reach no matter what type of company you own or manage. Virtual office services can provide professional mail reception and live answering services. Web collaboration and online communication tools allow team members to share work and get organized no matter where they are working around the world. View our virtual office packages to get started.