The debate about whether or not to let your employees work from home has been raging for the last several years and is most likely not going to be solved anytime soon. For many employers, the idea of allowing your employees to work remotely can be fraught with dangers, as there is always a constant suspicion that they are watching TV or goofing off rather than working. These concerns are real, but so are the potential benefits.
Increased Talent Pool
It’s already tough enough trying to find someone who is the right fit for your business, both professionally and personally, but finding someone within a very close geographic location can be even tougher. Allowing your employees to work from home lets you expand your talent pool to include people nationwide, or even global. And if you would still like your employees to come in every once in a while, it’s still easier for them to commute in a few days and return home, rather than requiring them to move.
Employee Down Time
Employee commute takes potential productive time out of their day, and is intensely dangerous. According to the American Public Transportation Association, 90 percent of the risk of an accident is due to commuting. Even if your employee does not fall under the “coming and going” rule of workers comp, their downtime due to injury recovery could be substantial. According to George Salinas, “the injuries suffered from auto accidents can range from death and incapacitation to spinal damage that does not manifest itself for days after the collision.” These are the types of injuries that could keep an employee out of the office for weeks or even months.
Lower Payroll
In a recent study, 37% of people surveyed said they would take a pay cut in order to work from home, as opposed to coming into an office. Not only does this translate into a higher bottom line for your company, but the boost in morale it provides will do wonders for your overall numbers.
Increased Performance
A Chinese call center experimented with giving their employees the opportunity to work from home for a period of nine months. The results? Their employees routinely completed an average of 13.5% more calls per shift, which generated an entire extra day’s worth of work from the same number of employees. Even better, the company was able to downsize its facilities (parking, furniture, etc), which saved an additional $1,900 per person.
Reduced Attrition
Working from home has been linked to an increased morale among various employees, but that extends far beyond simple emotional benefits. For many, working-from-home creates a better work-life balance, improves trust between employer and employee, and reduces the chances that the employee will find work elsewhere, which ultimately saves employers the cost of finding replacements. Lower turnover equals higher profits and happier employees.
Ultimately, the decision to let your employees work from home is a tough call, but recent studies support the idea that it can both improve morale as well as your financial bottom line. If you’re looking to make the move, here are some tips on how to get started.
