Wednesday, September 22, 2021

Remote working: a year in history

2020 was the year that changed everything, we modified our lives in social and economic aspects and for the labor world it was no exception. With the restrictions of social distancing, remote work became the most viable alternative for many companies to operate despite the pandemic.

Studies confirm that telecommuting is here to stay. As of February 2021, the United States Census Bureau reports that 38.6% of the workforce is working in this format. According to a survey conducted by Gartner Inc. 82% of business leaders intend to enable remote work by the end of the pandemic.

This model will continue to grow thanks to its multiple benefits, for example, in the reduction of expenses. Establishing this format can represent an investment that will undoubtedly be profitable in the short term. In case you don’t have the budget for this allocation, rely on the best small business loans to achieve the transformation.

The world has changed forever and we can’t wait for the old normal to return, to grow our businesses. Here is a list of benefits and challenges of implementing remote work.

Benefits of remote work for companies

According to a survey conducted by Flexjobs, 65% of workers want to remain as remote employees after the pandemic, while 31% want a hybrid model (face-to-face and distance). In other words, 96% of the workforce prefers to keep telecommuting. These facts are not a coincidence, these are some of the benefits for workers:

  • Fewer interruptions
  • More focused time
  • Quieter work environment
  • More comfortable workspace
  • Not being involved in office politics

The benefits of remote work are not limited to employees. For business owners, there are significant and easily quantifiable advantages. However, it involves an investment that was not budgeted for. If this is your case, turn to effective small business loans to achieve these results:

    • Fewer distractions at work: According to information from the consulting firm Global Workplace Analytics, companies lose $600 billion dollars due to distractions in the office. Regardless of the size of your company, these savings could easily pay for small business loans that will help you get the infrastructure needed to implement this format.
  • Workers are more productive: In the experience of companies such as Best Buy, Dow Chemical and many others, remote workers are 35-40% more productive when working at home.
  • Workers use the time that they used to spend going to work: According to Sun Microsystems’ experience, employees use 60% of the time they used to spend commuting to do more work for the company.
  • Savings in administrative and operating expenses: Six out of 10 business owners have recorded significant savings in their budgets.

Challenges of implementing remote work

To achieve this goal, it is necessary to make an investment to provide your employees with the necessary tools to operate remotely. If your company does not have the necessary budget, look for the best small business loans to boost your company’s growth.

Infrastructure required for remote work:

  • Technological equipment: Computers, cell phones and other gadgets, depending on the line of business of your company. 
  • Furniture: Chair and desk to adapt a home office.
  • Support to pay for internet and electricity for your workers: When using home resources for work, the company must commit to absorb expenses such as electricity and internet.
  • Project Manager software: To achieve productivity goals it is necessary to use tools that facilitate communication and task management.
  • Training to carry out remote work: This model represents an adaptation process, offering your team of collaborators the necessary training so that the learning curve is shorter.

Telecommuting can be a great alternative to find a balance between work and personal life. In the first months of implementation, it can be more complicated than physically attending an office, but if your company’s line of business allows it, you will be able to make it work.

According to a study conducted by Upwork, it is expected that by 2025, 36.2 million Americans will be remote workers. Don’t skimp on expenses that could impact the operation of your business. If your budget is limited, turn to small business loans to implement this model faster. Are you ready to transform your business?

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