Thinking Of Cutting Remote Working Vacancies In Your Business? It’s Time To Think Again
Remote work can increase employee performance by 13%, according to one study. Despite there being numerous benefits associated with remote work, employers in Europe are scaling back their remote working positions. LinkedIn reports work-from-home roles have declined for 7 months straight in the UK and the Netherlands. European startups are also following their lead, with a 35% reduction in remote roles advertised over the past year. But with millions of workers preferring to work remotely, your business must offer this option.
Retain talented workers
A recent McKinsey survey of 16,000 European workers found that one-third were planning on quitting their current job within 6 months. This is an alarmingly high number of individuals. The top reasons given for quitting were inadequate total compensation, unsustainable performance expectations, and lack of flexibility. All of these things can be improved with remote working. Remote work eliminates commuting costs and gives flexibility as employees could start work at the time they’d normally be sitting on the train. As remote workers have been proven to be more productive, their performance will be higher. They’ll also have fewer distractions and you can set more realistic goals and expectations.
Everyone will save money
70% of Europeans say they’re worried about the cost of living. As an employer, you’re sure to be just as concerned as your employees. Remote working saves everyone money. One study found that a business’s operational costs could be cut by a third by introducing remote work. Employees also benefit as they save on travel expenses, takeout lunches, suitable work clothing, and similar. Many remote workers will need to create an area to work from home. The living room is a good choice as it’s spacious and allows for plenty of movement. Workers can also separate their remote working area from the rest of the living room with a feature, such as a bookshelf, side table, or lamp. Ergonomic furniture will also be needed, but there’s no need to worry about the cost of these items. In some countries, remote workers can claim costs back. For example, in Belgium, €142.95 per week can be claimed while German remote workers can claim up to €600.00 per year.
Flexibility improves happiness
Happy employees are more productive, healthier, more positive, and better engaged in their work. Remote work and flexibility go hand in hand. Studies show the importance of flexibility for workers too. An Owl Labs study of European workers revealed that 37% of job hunters want flexible working hours and 25% want a flexible working location. 69% are even prepared to take a pay cut to get the flexibility they want. Being able to work flexibly improves work-life balance which is well-known to increase happiness.
If you’re one of the companies that have slashed your remote working vacancies or are considering it, it’s time to rethink your plans. Most employees want remote working options and it can be much better for your business’s finances and staff turnover rate.