BENEFITS OF REMOTE WORK TO EMPLOYERS AND EMPLOYEES

BENEFITS OF REMOTE WORK TO EMPLOYERS AND EMPLOYEES 

Remote work has become the new normal for many companies worldwide. This development came to be as a result of the occurrence of the COVID-19 pandemic and now, is of great advantage to both employers of labor and employees likewise. 

The COVID-19 pandemic had a transformative impact on the world of work, accelerating the shift to remote work in a way that no one could have anticipated. As companies and governments worldwide imposed lockdowns and social distancing measures to curb the virus's spread, traditional office environments became impractical and even impossible to maintain. As a result, organizations across sectors were compelled to embrace remote work, adapting their operations to allow employees to work from home. 

As we navigate this new phase of life when it comes to offering and getting jobs, it is important to note some of the various ways remote work is beneficial. 

To the employer 

1. Increased cost effectiveness 

One of the most significant importance of remote work for businesses and employers is cost effectiveness. Allowing employees work remotely cuts out the need to spend money on rent, maintaining an office space, utilities and office supplies which helps employers save considerable amount of money most especially in the light of the rising cost of expenses. 

Flutterwave, a fintech company in Nigeria, offers a good example of cost-effectiveness through remote work. During the COVID-19 pandemic, Flutterwave adopted a more flexible work model, allowing many employees to work from home. This approach enabled the company to reduce operational costs typically tied to office rent, utilities, and maintenance, especially in high-cost areas like Lagos.

These cost savings allowed Flutterwave to reinvest in technology and resources that support a remote workforce, such as improved digital communication tools and infrastructure to maintain productivity. The model also helped Flutterwave attract talent across Nigeria, reaching skilled professionals outside major cities without the need for relocation expenses or expanded office space.

2. Increased productivity 

Another benefit of working remotely is that it increases employee productivity as proven by numerous studies. Without the distractions typically found in an office setting, remote workers are able to focus better on given tasks. Also, they can create work environments that suit their needs. It also gives them the opportunity to master skills in self leadership and being able to work alone which improves work performance and reduces the need to hire extra staff.  

An example of this is Paystack, a fintech company in Nigeria. Before being acquired by Stripe, Paystack adopted a flexible work model that allowed many employees to work from home. This shift empowered employees to work in environments tailored to their personal preferences, helping them focus better and manage their time more effectively. 

The remote model at Paystack allowed employees to avoid the challenges of Lagos traffic and office-related distractions, enabling them to concentrate on tasks without interruptions. By creating this flexibility, Paystack not only saw improvements in productivity but also encouraged employees to build strong time management and self-leadership skills. This self-sufficiency helped reduce the need for frequent supervision, leading to a more efficient and effective workflow without the need to hire extra supervisory staff.

3. Greater employee satisfaction 

Offering remote work can significantly increase work satisfaction. This is because working from home provides employees with a better work-life balance which leads to increased job satisfaction. Such employees have the flexibility to balance their personal and professional lives and are also less likely to leave their jobs which reduces staff turnover and associated costs. 

4. Greater pool of applicants 

When remote work is an option, employers are able hire from anywhere in the world. They are able to tap into a global talent pool and recruit new employees outside of their locality. This gives the opportunity of finding the best candidates suited for the job and improves workforce quality and diversity. 

5. Better talent retention 

Remote work has proven to be a strong factor in improving talent retention for companies. When employees have the flexibility to work from home, they experience better work-life balance, reduced commuting stress, and a greater sense of autonomy. These factors contribute significantly to job satisfaction and can make employees feel more loyal to their company, as their personal needs are respected and accommodated. 

This flexibility also allows employees to create a setup that best supports their productivity and comfort, which often leads to higher job satisfaction. Employees who are able to balance their personal and professional lives without the daily challenges of commuting or rigid office schedules are more likely to stay with their current employers rather than seek out new opportunities.

For companies, this benefit is especially valuable in reducing turnover costs, which include recruitment, onboarding, and training new hires. Remote work can also enable companies to keep high-performing employees who might otherwise leave due to family obligations, relocation, or other personal circumstances that make traditional office work challenging.

Ultimately, by offering remote work options, companies can foster a more loyal, satisfied, and stable workforce, which enhances long-term growth and stability. 

To the employee 

1. Better work life balance 

The first benefit of working remotely is that it gives you the opportunity to create a personal and professional life balance. As an employee, you’re able to structure your day in a way that gives you time to work and also gives you time to attend to your personal life which include family and social engagements. 

2. Great flexibility 

Another major benefit that working remotely gives is the opportunity to choose the best time that works best for you. You’re not restricted to showing up at specified hours as in the case of a physical office; rather you’re able to fix your time however you desire to work and also take care of personal errands. 

3. Less time spent on the road 

Working remotely cuts out the time spent commuting to a workplace especially if you live in a big city. The time you would have spent on transportation can now be channeled to doing things that you enjoy. In addition, you get to save money that would have been spent on cost of transportation and also be in the right frame of mind to work. 

4. More freedom 

As a remote worker, you have the freedom to do your job the way you want, without being constantly monitored as you might in a traditional office space. You also have the opportunity to be creative and settle issues as they come in your work. 

5. Fewer distractions and better time management 

As a remote worker, you will most likely encounter fewer distractions. In a traditional office space, it’s easy to get distracted by colleagues and impromptu meetings but when you work remotely, you can set boundaries and establish rules to reduce distractions which improves your productivity and also help you manage your time better and focus more on your job. 

In summary, the world is full of opportunities, more especially for people that are willing to embrace change and the advantages of remote work. With the listed benefits of remote work both to employers and employees alike, I believe it is here to stay. Don't be left out in the journey.