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The team at Soshace has helped many great companies find remarkable remote web developers. In this post, they share what their experience illustrates about how remote companies are changing the world.
Remote work is changing the very nature of the global work space, in ways that might be difficult for many to notice. Fortunately, various agencies around the world are studying remote companies. They point out the trends remote companies are setting and how well they perform. Here are some highlights of what they have found.
1. Remote Companies Save $11,000 Annually for Each Employee
As evidenced by a study conducted by Global Workplace, remote companies reap enormous financial benefits. The most obvious factor lies in eliminating or significantly lowering office-associated costs.
A physical office is a great place for connecting the team. However, physical space and everything associated with it eats into a company’s financial resources. There are expenses, for example, including rent, office equipment and supplies, insurance, and perks to attract the younger workforce. Remote workers willingly assume these expenses for reasons of their own.
2. Remote Companies Boast 13% Better Productivity
Researchers for a Stanford University study found that remote workers are 13% more productive than their office peers. What’s more, remote companies report that these workers take fewer sick days overall.
This greater productivity can be attributed to several factors. For instance, an at-home worker can have fewer distractions such as chit-chatting with a talkative colleague. What’s more, many remote workers say they have better focus in their homes, a coffee shop, or a library.
Interestingly enough, CoSo Cloud found in their study that 23% of remote team members are even putting in extra hours. So perhaps remote workers’ focus on their jobs can sometimes be too high.
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3. Women Are Pioneering the Remote Movement
For many female professionals, the challenge of balancing a successful career with a fulfilling personal life is exhausting. Therefore, they choose to play by their own rules via remote work with remote companies. In this way, they become more productive and satisfied. As evidenced by a Remote.co study, 29% of fully remote companies are led by female CEO’s. Compare this with the statistic that only 17% of regular office companies are led by women.
In a remote environment, achieving work-life balance is easier. And when people are better able to find balance between professional and personal responsibilities, work-associated stress diminishes. Accordingly, employees become happier individuals—and ultimately better workers.
Another positive aspect is tied to career opportunities. Remote companies tend to encourage women to strive for higher salaries and more responsibilities. Meanwhile, women get to side step such office trivialities as restrictive dress codes.
4. Workers for Remote Companies Save as Much as $7,000 Annually
Working Out
The in-office gym is, of course, a nice thing to have. However, workers for remote companies tend to focus on saving instead. In fact, remote workers can save as much as $7,000 annually, thanks to these aspects:
Commuting
Both personal autos and public transport present certain unavoidable transportation costs. Gas prices alone can make a significant dent in a professional’s budget. Also, time truly is money. In other words, time is a valuable asset that gets squandered in traffic jams far too often.
Eating and Drinking Out
Grabbing a coffee at Starbucks and eating out with colleagues can become a frequent company ritual. What’s more, these little outlays can add up to hefty sums over time.
Child Care
For many workers with remote companies, child care represents the biggest savings. For US workers, these costs can be as high as $15,000 every year, and remote workers can save big bucks. However, some remote workers still rely on at least part-time child care so they can more easily focus on their work.
5. The Remote Workforce Has Grown by 140% Since 2005—and It’s Still Growing
Remote companies today rely on recent technological breakthroughs that have made remote workflows possible. For instance, today businesses take for granted higher quality Internet bandwidth. They enjoy better mobility with laptops and longer battery life for all devices.
Cloud services are an important contributor to all this “remotification” as well. Thanks to cloud-based business solutions such as G Suite, Dropbox, and many more, businesses now have the ability to create virtual offices. They know they can rely on seamlessly keeping team members synced up with the latest changes. Therefore, many businesses around the world are becoming less skeptical of being remote companies themselves.
Moreover, the nature of many high-paying intellectual jobs contributes to this trend. For example, Kirill Tatarinov, CEO of Citrix Systems, says, “If we analyze the work of information-knowledge professionals, we could argue that their workflow is 100% mobile.”
Jobs such as these have become ever more global and location-independent. As this happens, the professionals in these areas acquire more and more freedom. Accordingly, they organize their workdays and their workflows as they see fit. As the second statistic in this post shows, such freedom leads to increased productivity.
What Does the Future Hold for Remote Companies?
There’s no telling what the future might bring for remote companies. But these five statistics show that the future looks bright indeed.
