Workers everywhere are competing for positions that allow them to work from home. These remote jobs facilitate social distancing and isolation, allowing individuals to make a living without putting themselves or their families at risk. While many businesses are suffering due to lockdown, there are plenty of employers who can significantly benefit from offering remote work. Take a look at these financial benefits of remote jobs and consider transitioning some or all of your staff to working remotely.
Decrease Costs Associated With Sick Leave
With plenty of regions still facing significant COVID-19 infection rates, employers and employees alike are eyeing their companies’ sick leave policies. Whether due to illness, family emergencies, or an abundance of caution, some workers are starting to use their sick days and stay home. With remote jobs, many of these sick days can be avoided. Workers who must watch kids or ill family members can sometimes do so while they work from home. This is an even more viable option for remote jobs with flexible hours. Telework can help decrease the costs associated with sick leave while also easing financial pressure for employees and limiting the spread of illness for workers who must remain on-site.
Remote Jobs Boost Productivity and Attract Top Talent
In recent months, remote jobs have become incredibly desirable. Because of restrictions and risks related to COVID-19, many companies that offer remote work are seeing massive surges in applicants. Transitioning to remote positions allows businesses to be more selective with whom they hire. Besides, current staff members may be more productive while working from home. Commutes are nonexistent, workers have more leisure time, and reduced employee stress can lead to increased productivity.
Reduce Overhead Costs
While many businesses require storefronts, warehouses, and other facilities to operate, there can be significant financial benefits to scaling back physical workspaces in favor of remote work options. Limiting the use of brick-and-mortar properties can help reduce rent, utilities, and facility management costs. This can be particularly critical for companies that are facing financial instability. Investing in digital infrastructure can be a drop in the bucket compared to the cost of rent for office space, and some businesses are transitioning to remote work for all staff members as a way to operate more efficiently.
Use EveryIncome to Boost Your Team’s Financial Literacy
EveryIncome is dedicated to providing our clients with career and finance management tools to help them create a stable financial future. Whether you are an individual, a small business owner, or part of a multinational corporation, our system of tools and guided learning is tailored to fit your specific needs. Our solutions for businesses allow employers to give their staff the financial planning tools that they need to stay in control of their finances. Contact the team at EveryIncome online or give us a call at (571)370-5400 to learn more about our offerings. For more valuable tips for business owners, follow EveryIncome on Facebook, Twitter, and LinkedIn.
