While some jobs, like construction and food service, are incompatible with remote work, others can be done perfectly well from the comfort of a home office. Whether corporations like it or not, working from home is here to stay—and that’s not a bad thing at all. In fact, there’s a whole host of benefits to remote work for small businesses that can improve your and your employees’ work experience.
Some business owners hesitate to let their staff work remotely because they imagine employees playing video games and taking naps on the clock. But here’s the truth: employees who work in a comfortable and familiar environment are actually more productive. Their morale is higher, they feel accommodated and respected, and they’re free from the constant distractions of an in-person office.
Massive Financial Savings
You can save a great deal of money by going fully remote and forgoing the office space. Monthly rent for an in-person office can really add up over the years, and in many industries, it’s not strictly necessary. Spend your new business startup funding on marketing, business insurance, and payroll instead of office furniture and rent.
Reduced Employee Turnover
When your workers are happy and fulfilled at your company, they’re unlikely to quit in search of something better. This is great news for you as a business owner because high turnover rates quickly become expensive—hiring and training new staff costs money, after all. Implement remote work at your company to retain your current staff for longer.
Expanding Your Talent Pool
A fully remote office isn’t just great for your current staff; it also removes barriers to employment and allows you to hire new employees from a wider pool. For example, you can hire qualified applicants who live a thousand miles away from you or talented individuals with mobility restrictions that keep them out of a traditional office.
If you are skeptical about the advantages of remote work for small businesses, let this quick list from Pango Financial convince you to allow your staff to work from home. Not only will you save money by eliminating office-related expenses, but you’ll also keep your employees happy and fulfilled at work.
Want to learn more about how you can finance your new business? Use Pango Financial’s funding solutions tool to discover a variety of options available to you.