Reduce staff turnover
Remote working is seen as a real perk, and is a great incentive to stay with your company – cutting the cost, time and hassle associated with high staff turnover. It can be a good way to retain staff who need flexible working, including working parents.
Offering flexible working options, including remote working, can help you attract staff. Survey after survey suggests that flexible working, including the option of working remotely, is seen as highly desirable by employees. In the UK, almost one third of HR professionals surveyed by recruiting firm Robert Half reported that better work-life balance was the main motivation for employees moving on to new jobs. The number of HR pros who felt that higher pay was the main motivation for staff to leave was only a little higher, at 32%.
Similarly, research by US firm Global Workplace Analytics found that two thirds of people would like to work from home. For many, working remotely is even more attractive than increased pay. Global Workplace Analytics found that 36% would choose the option to work remotely ahead of a pay rise; one survey of 1,500 technology professionals found that 37% would be willing to accept a pay cut of up to 10% in exchange for the option to work remotely. According to Global Workplace Analytics, 95% of employers say remote working makes a high impact on employee retention.