Working remotely has many advantages, including saving time and increasing productivity while reducing the likelihood of knowledge gaps, and diminished teamwork. Working remotely, however, might raise the possibility of misunderstandings and creative problem-solving among team members. Companies are debating whether to continue this hybrid form of operation and permanently shrink to a smaller office space.
If you are thinking about moving into a smaller office or uprooting your business to a smaller space, then keep reading this article to find various aspects to consider before making the move. The benefits that accrue to individual employees will vary from those to the organisations.
For Individuals
Remote employment offers advantages beyond cost savings for employers. Here are some of the reasons you should consider moving to a smaller office if you want a more engaged workforce:
1. It provides flexibility and freedom for employees.
Remote workers are not only happier overall, but they are also more flexible than their office-based counterparts. According to a Flex Jobs survey, almost half of remote workers said their freedom to work from anywhere made them happier. A further 25% of participants reported that their ability to focus and work more quickly was aided by having a flexible schedule. The reduced commute is a key reason why employees, especially knowledge workers, prefer the flexibility of working from home.
2. Employers can boost employee satisfaction and morale by offering alternatives outside of conventional offices.
According to Ctrip’s research, remote workers have a more positive attitude, less work exhaustion, and less attrition. At-home workers had an attrition rate of only 17%, which was less than half of the control group’s (35%). The ability to control their work life and increased empowerment are some of the reasons why working from home are beneficial for employees.
3. It improves Productivity
While allowing employees to work from home requires a certain level of trust, your employees can also benefit from an increase in their productivity. According to a Stanford study, remote workers are 13% more productive than their in-office counterparts. This gives them a further motivational boost and confidence to become better at their work.
Flexibility in scheduling benefits businesses as well as workers. Employees are more inclined to stick around and support corporate objectives if they enjoy where they reside. Boosting productivity and lowering turnover rates, helps businesses save money too.
For Businesses and Organisations
Remote working can help businesses in a variety of ways. Many established businesses have already benefited from telecommuting. Providing office space, internet, electricity, and other amenities to employees working on-site is a significant expense for businesses. Let us look at the advantages of remote working for businesses:
1. Reduced cost of property management, utilities, and cleaning services
Companies intend to save money by going remote-first by reducing real estate costs, utility bills, office furniture, and so on. The average office space cost per employee is estimated to be around Rs 3,50,000 per annum depending on the square footage. Multiply this cost by the number of employees working for large corporations to get an idea of the cost savings that remote work can provide. Furthermore, not having employees working from physical locations eliminates the need to pay for office cleaning services.
2. Tap into a larger talent pool and lower employment costs
Running a successful business necessitates the formation of a formidable team of employees who are not only dedicated to their work but also possess the necessary skill sets. Unfortunately, a severe talent shortage has emerged in many countries and regions. Companies that rely on geographically defined talent pools miss massive hiring opportunities.
Remote-first businesses, on the other hand, can tap into a global talent pool and find the perfect match for open positions without regard for physical distance. Furthermore, having a globally distributed workforce can result in significant cost savings because hiring workers in foreign countries often mean lower wages and less payroll tax.
3. Improves Employee Retention
Recruitment can be one of the most difficult challenges for businesses, and it can be even more frustrating when carefully selected team members decide to leave.
Working from home allows parents to have more flexibility with their childcare responsibilities, while other employees can enjoy a better work-life balance, giving rise to conducive company culture. This will in turn help your company’s employee retention.
4. Reduces Employee Absenteeism
Flexible scheduling enables your team members to fit their work around any personal obligations that may arise, resulting in a reduced need to take a day or two off. Also, studies have shown that employees who have a flexible work schedule are healthier. Remote workers recover more quickly from illness, and there is no risk of a single cough or cold spreading throughout your entire workforce if someone becomes ill.
Exploring Concerns
Since the earliest days of the internet, remote work has been debated. However, it was not until the pandemic that businesses started to understand the advantages of letting employees work remotely. As technology advances, an increasing number of people are choosing to work from home. While there are many benefits to working remotely, there are some concerns and watch-outs too. Reduced collaboration, the ability to brainstorm ideas, and form strong bonds with the teams are the primary concerns.
However, it is possible to work around these concerns effectively and build a truly remote work model. Here are three suggestions to help you ensure that everyone is at ease and productive while working remotely:
1. Be Clear with Your Vision
It is crucial to consider the culture you want to promote when you begin to plan your remote workforce. Do you wish to promote departmental cooperation? Or do you simply want to concentrate on finishing things quickly? You will never be able to decide how to best support your remote staff if you do not know where you want to lead them. So be very clear about your vision and work values and communicate them to your teams regularly.
2. Make Sure Everyone Knows What is Expected
If you have ever worked in a traditional office environment, you are certainly familiar with how challenging it can be to keep up with everything that happens. It is even more difficult in a remote setting because you sometimes cannot see your co-workers’ faces and miss ‘water-cooler conversations’. It is critical to have open and transparent communication to address this issue by building separate channels of communication for every need. By doing so, you can guarantee that everyone is aware.
3. Build Strong Working Methods: From Brainstorming to Problem-solving
Teams can more easily work together across time zones when communication is asynchronous. However, even while modern technologies may enable them to operate more quickly and intelligently, employees may be reluctant to accept them because they worry, that they may lose out on something significant.
It is therefore advisable to create systems and processes for each aspect of the workflow – from brainstorming to planning and execution. Adopt a tool that facilitates effective communication as soon as possible. This is true regardless of whether your goal is to enhance team communications internally or external communications with clients or business partners.
For a remote workforce, the sharing of knowledge is an essential notion. In fact, it is one of the most crucial leadership imperatives.
Redefining the interaction between workers and the office by moving toward smaller, more functional workspaces. The office does not have to be associated with where work is completed and where presence is required. It can be defined as the location where team members go to meet a particular need, such as interacting in person with certain co-workers, forming ties through socialising, or expanding their skill set during training and development events.
If you are thinking about the lack of space for equipment or boxes of files, you can always rent out a self-storage unit. Self-storage spaces are extremely reliable to store anything from important documents, and receipts to photocopiers, etc. Trusty storage companies such as Self Storage India ensure safe storage of all equipment, documents and more allowing you to move into a smaller office space.
