There are several benefits to having a distributed team instead of a classic office team, and decreased overhead costs are just one of them. Here are the top 5 benefits of a remote team over a traditional company structure.
Happier and More Productive Employees
Of course, remote working is not for everyone. However, those who can thrive in remote working environments are seriously overperforming those who can't. Those who work remotely, don't need to commute. For the unlucky ones, it is a good chunk of time reclaimed. Remote workers also have the choice to work from anywhere, so their work environment suits them better, ultimately making them happier.
A happier employee is a more productive employee as well. Not to mention the fact that remote employees log more hours in and tend to work more, due to the nature of their work environment.
More happiness means higher retention. If your company culture is well-rounded, your remote employees stay with you longer than usual office workers.
Less Overhead Costs
Most of the business owners are interested in costs and yes, remote workers usually cost less. However, there is a big but. If you are expecting quality work, you will be surprised how much you cannot compromise on cost. A great remote employee can earn as much as a typical office worker, sometimes even more.
However, the one overhead cost that is seriously visible: office and employee benefits. Most of the remote workers are freelancers, meaning they are contractors. You don't need to pay anything above their salaries, which is a business expense regarding accounting. You also save on the office and all its liabilities and resources.
Global Talent Pool Access
Hiring a good staff member is hard if you are not in one of the tech / creative hubs in the world. If you are in one of them, good for you, you can compete with Google and Facebook for the best developers, ultimately paying more than necessary to a staff member.
If you are hiring remotely, you are hiring from around the globe, which means you will get access to a global talent pool.
Flexibility and Growth Potential
Having a remote team gives you fantastic growth potential and higher flexibility. As these employees are most likely freelancers, they can be downgraded if needed. They can also bring your company on a growth pattern, really quickly. You can scale up rapidly with a right amount of remote employees.
This increased flexibility and higher growth potential give you a substantial competitive advantage over your competitors. If you operate on a local level, the competitive advantage is even higher.
Remote Employees Are Essentially Better In Some Skills
Imagine the day-to-day life where you don't need to commute, you have the freedom to pretty much write your schedule, choose where you want to work, and you also have to be stand up with your skills and proactive communication to get noticed because merely walking into the office is not enough for that.
Remote employees are inherently better in specific skills or at least start with a competitive advantage. They are fantastic project managers, proactive written and verbal communicators, engaged part of your team, highly skilled and up-to-date with their knowledge, also passionate and I’ve already mentioned the topic of happiness and effectiveness. If you hire in the right way and look for the right traits in remote employees, you can work with real gems.