How Employers Can Save Money by Allowing Employees to Work from Home

How Employers Can Save Money by Allowing Employees to Work from Home

Do you find it kind of shocking that so many businesses are trending towards working from home?

The Pandemic accelerated the shift, but even before then, more and more businesses were allowing their staff to trade in their stuffy old offices for a home office.

But we were headed this way already, the benefits of working from home for employers are just too good to pass up. And now with a broken economy on the cusp of a recession, those benefits are more important than ever.

This article is all about those benefits and how they can help you as an employer. We will explore the different industries that benefit the most from working from home and the types of roles that are well suited for a work-from-home lifestyle.

How working from home can save your company money

If your company moves to a work-from-home model, there are a lot of potential cost savings.

Your biggest savings by far will be in real estate. You can downsize your office space or get rid of it altogether. And with the rise of coworking spaces, you don’t even need a traditional office anymore.

You’ll also save on things like office furniture and supplies, energy costs, and even food and coffee. With fewer people in the office, you won’t need to stock the break room and kitchen with as much food and drink. And if people are working from home, they’re probably not going out to buy lunch every day.

Of course, there are some costs associated with working from home, like setting people up with the right equipment and internet connection. But overall, you’ll probably see a significant reduction in your operating costs.

Five more benefits of working from home for employers

Increased productivity

This is counterintuitive for some employers who fear that their employees will slack off if they are not being watched. However, studies have shown that employees who work from home are more productive than their office-bound counterparts.

There are a few reasons for this. First, employees who work from home have more control over their environment. This means they can create an environment that is conducive to focus and concentration. Second, working from home eliminates distractions like office politics and water cooler chatter. And third, employees who work from home tend to have more flexible hours, which allows them to structure their day in a way that maximizes productivity.

Healthier workforce

According to a study done by Owl Labs, 3 in 4 (74%) said after the pandemic working from home is better for their mental health. That’s a huge number, and it’s not surprising when you think about the benefits of working from home for mental health.

First, there is no commute, which can be a major source of stress for many people. Second, employees have more control over their environment, which means they can create a space that is calm and relaxing. And third, working from home eliminates distractions like office politics and water cooler chatter.

It’s not just mental health benefits either. Employees who work from home also enjoy better physical health because they are more likely to take breaks to move around and they are less likely to catch illnesses from their colleagues.

Improved retention

So what happens when your employee feels productive and happy? They are less likely to leave. That’s right, the benefits of working from home for employers also include improved retention.

When employees feel like they have a good work-life balance, they are more likely to stick around. And when they don’t have to deal with a long commute or office politics, they are even more likely to stay.

Not only that, but employees who work from home are also more likely to be productive and engaged. So not only will you retain your best employees, but you’ll also get the benefits of their increased productivity.

Culture improvement

Even though the in-person connection is important for some businesses, it’s not necessary for all businesses. In fact, in many cases, working from home can improve workplace culture.

How? First, it can help to break down barriers between management and employees. When everyone is working from home, there is no need for hierarchy. Second, it can promote transparency and open communication. When everyone is working together remotely, there is no need for secrets or backstabbing.

And last, but not least, it can help to create a more diverse and inclusive workplace. When employees are not tied to one location, businesses have a much wider pool of talent to choose from.

Top talent from anywhere in the world

The benefits of working from home for employers are not just limited to the benefits we’ve already mentioned. One of the biggest benefits is that it allows businesses to hire top talent from anywhere in the world.

With a work-from-home setup, businesses are no longer limited to hiring employees who live near their offices. This means they can hire the best person for the job, regardless of location.

Not only that but working from home also allows businesses to tap into a global pool of freelancers and contractors. This can be a great way to get work done without having to pay the high salaries of full-time employees.

Cons of working from home

Now with all that being said, there are also some potential downsides to working from home.

Isolation and loneliness

One of the biggest downsides is that it can be difficult for your employees to stay focused and motivated when they’re not in an office environment. If you’re not careful, your employees could end up feeling isolated and lonely. And if you don’t have the right systems in place, it can be hard to stay on top of what your employees are doing.

Lack of face-to-face interaction

Another downside is that it can be difficult to build relationships and trust when you’re not interacting with your employees in person. This can make it hard to create a cohesive team culture.

Distractions At Home

Another potential downside is that there can be distractions at home, like family, pets, and the TV. This can make it hard for your employees to focus on their work. But if their responsibilities are clearly defined and they have a quiet place to work, this shouldn’t be a big problem.

Team Cohesion

Last but not least, one of the potential downsides of working from home is that it can be difficult to build team cohesion. When your employees are not in the same location, it can be hard to create a sense of camaraderie and trust. This is especially challenging if your leadership style is more collaborative than directive.

But if you’re careful about how you manage your team, this shouldn’t be a big problem. Just make sure you’re clear about your expectations and that you’re providing opportunities for your employees to interact with each other, either in person or online.

If you’re thinking about implementing a work-from-home policy, it’s important to weigh the pros and cons carefully. Working from home can be a great way to improve employee productivity and retention, but it’s not right for every business. It’s important to consider your company culture and the nature of your business before you make a decision.

Is your industry benefiting from work at home?

Not all businesses can take advantage of the benefits of working from home. It depends on the industry you’re in.

For example, businesses that rely heavily on face-to-face interaction, like retail stores and restaurants, would not be well suited for a work-from-home policy. And businesses that require employees to be in specific locations, like construction companies, would also not be able to take advantage of the benefits of working from home.

The best industries for working from home are those that are conducive to remote work, like the following:

• IT and software development: Software developers, web designers, and IT professionals only need a computer and an internet connection to do their jobs.
• Writing and editing: Writers, editors, and content creators can also work from anywhere as long as they can access the key resources they need, like their research materials.
• Call Centers: Many businesses are moving their call centers to remote locations. This allows them to save on overhead costs and tap into a global pool of talented workers.
• Marketing and advertising: With the rise of social media, many marketing, and advertising jobs can be done remotely.
• Consulting: Many consultants can do their jobs from anywhere, as long as they have a phone or webcam and a website.
• Accounting and finance: With the advent of online accounting software, many accounting and finance jobs can be done remotely.
• Graphic design: Graphic designers only need a computer and an internet connection to do their jobs.

Shifting from office to home: Key questions to consider

After you get buy-in from your boss to work from home, you need to sit down and make a plan. This list is to help you consider all the factors in making your shift to at-home easy.

Do you have a dedicated workspace?

If you don’t have a dedicated workspace, now is the time to create one. It’s important to have a space in your home that is designated solely for work. This will help you focus and be more productive.

Do you have the right equipment?

To work from home, you need to have the right equipment. This includes a computer, internet connection, printer, and any other tools you need to do your job.

Do you have a good ergonomic setup?

It’s important to have a good ergonomic setup when working from home. This means having a comfortable chair, a desk at the right height, and proper lighting.

Do you have a routine?

When working from home, it’s important to establish a routine. This means setting regular hours, taking breaks, and staying focused. Just be sure to make a schedule and stick to it.

Do you know how to stay connected?

When working from home, it’s important to stay connected with your colleagues. This can be done through video conferencing, chat applications, and phone calls.

If you have a family, do they know your work schedule?

If you have a family, it’s important to let them know about your work schedule. This will help minimize distractions and disruptions.

By following these tips, you can make the shift from working in an office to working from home. Just be sure to take the time to consider all the factors involved. With a little planning, you can make the transition for you and your employees seamless.