4 Ways Your Startup Can Benefit by Going Remote
As a startup, you are expected to be a disruptor. A change agent. You are creating the future. You’re using (or creating) the latest technology to make the world a better place. But before you can create the next big thing that’s going to change people’s lives, you’ve got to hire the right people for your organization. And then you’ve got to make sure you keep those people.
According to the Owl Labs’ State of Remote Work 2017 study, companies that provide remote and flexible work arrangements have a 25% lower employee turnover rate than those organizations that don’t. Also, fully remote companies complete the hiring process of new candidates 33% faster than standard onsite-based employers.
With all the new startups competing for the best talent, don’t you want to give your organization every possible advantage? Of course you do. This is why you should consider going remote.
1. Going remote allows you to search to the entire world for the perfect candidate.
Why interview just those people who can commute to your office when the perfect person for the job may be thousands of miles away? You’re hiring someone based on their skills and their experience, not their geo-location.
We are currently living in the land of the virtual office. With our ability to Skype, Hangout, and video-chat, we no longer need to be sitting in the same cubicle with someone in order to communicate.
Don’t sell your startup short by limiting your talent pool to a certain radius. The world is your oyster when it comes to hiring.
2. Going remote saves you a ton of money on office space and supplies.
Why waste money on an expensive office location when you can invest that large chunk of change into your product and your employees? Office space – especially in major metropolitan areas – is at a premium. And even the trendy co-working spaces aren’t really that much cheaper.
By having the majority of your team work remotely, you will save exponentially on things such as rent, insurance, and office supplies. (Hey, those K-cups for the Keurig machine can really add up!)
Besides, you started your company because you believe in your product. Not because you want to work in a space that provides free beer.
3. Going remote leads to increased productivity.
If your employees are battling traffic and transit delays in the morning, chances are, they are going to be late on several occasions. Think about all the wasted time spent in the breakroom and having friendly conversations at co-workers’ desks or the never-ending meetings that get side-tracked with general conversation.
There are just so many distractions in an office environment that cause a decrease in focus and productivity.
With a remote environment, you never have to worry about your employees being late to work. The majority of people who work from home start working as soon as they get out of bed in the morning, and this is usually way before the standard starting time of 9 AM. As they work throughout the day, they aren’t distracted and can focus on the task at hand. This leads to a huge increase in overall productivity.
4. Going remote makes your employees happier and more dedicated.
By allowing remote work for all your employees, you are demonstrating the highest level of trust. This makes people want to work even harder because they feel appreciated and respected.
Remote work provides for a better work/life balance, and that is the magic formula that everyone is now seeking. When your employees feel they have this balance in their lives, they are naturally happier. Happy employees are loyal employees, as evidenced by the 25% lower turnover rate mentioned previously.
What does all this mean for your startup organization when it comes to going remote? To put it simply, happy employees + increased productivity + less turnover = business success.