5 Ways Remote Working Teams help SMEs Hire the best Talent Remote work isn’t just a trend but it has now become an imperative part of many companies. Even Buffer’s 2021 State of Remote Work report reveals that 96% of employees who started working remotely as a result of COVID-19 stated they would like to continue with remote work – at least some of the time, for the rest of their career. Thus, one of the key questions that skilled job seekers ask employers when seeking new career opportunities is: Does your company offer work from home or a remote working program? They are more tend to join a company with such policies than others who don’t. But as more offices commence to reopen, many companies irrespective of size are in a dilemma whether to extend remote work or work from home opportunities. Well, the benefits of remote work are not just quite evident for employees but employers as well; which include attracting the top talent. This post aims to help SMEs explore how building a remote workforce can help them find and hire the talent their companies need for growth. How Building Remote Working Teams Helps You Hire the Best Talent? The latest survey conducted on talent shortage reveals that a whopping 69% of companies struggled to fill their open positions with the best talent. And employers with the least flexibility and workplace-based positions are facing the most difficulty. It is crystal clear that the pandemic has dramatically transformed the working landscape. Today, more and more career prospects want flexibility and a better work-life balance. These benefits come with implementing work from home or remote working policies. Have a look below and get deeper into how remote teams can help SMEs hire the best talent! 1. You access a wider talent pool Building a diversified and skilled workforce is key to any business’s success. When you decide to hire employees from a specific location, you’re just limiting your talent pool. On the flip side, hiring remote employees means you can go beyond geographical constraints and access the top talent on a global scale. “Do you want to access talent everywhere, or just in specific markets? If the answer is everywhere, you need to be at least open to the possibility of remote work — it opens doors to attracting and retaining talent around the world, literally and figuratively.” — Katie Burke, HubSpot. Moreover, a geographically-distributed workforce results in employee diversity that ensures different perspectives and truly innovative ideas while planning and implementing a business strategy. 2. Remote work reduces the overall cost As per Global Workplace Analytics findings, companies with employees who work remotely could save nearly $11,000 per employee each year. Cost-saving benefits come in the form of little to no money spent on office real estate, electricity, furniture, janitorial services and other related costs. Moreover, remote employees are usually willing to use their own devices for project management and virtual meetings with teammates and colleagues using technology. Thus, companies don’t have to spend money on the purchase and maintenance of technology. That’s not at all. Many studies also show that most workers are happy to take pay cuts in exchange for flexible work or work from home perks. Also Read: How Much Does It Cost to Hire a Web Developer? 3. Remote working teams are more productive Many studies reveal that remote employees are more productive than office-based employees. A Global Workplace Analytics found that remote employees are 35-40% are more productive than in-office counterparts. Another research reveals that 77% of remote workers report enhanced productivity. There are many reasons behind this; which include remote employees tend to encounter fewer distractions, less to no office politics, no commute, more quality time for friends and family and better work-life balance. 4. Remote work lowers work absences Absenteeism can have a significant impact on the organization. According to the Center for Disease Control and Prevention (CDC) reports, absenteeism in the US costs companies $225.8 billion per year in productivity losses – that’s $1.685 per employee. There are many notable causes for employee absenteeism including a lack of a flexible work schedule. With remote work, on the other hand, one of the benefits employees’ relishes is flexibility in their workday. Even as per the latest survey conducted by Indeed, 50% of employers state that implementing remote work policies resulted in reduced absenteeism. 5. Remote work increases employee retention Remote work enables many millennial and Gen Z workforce to enjoy flexibility over choosing their own working hours and areas. This allows them to travel, revive and come back to work with a happier mindset. As per the same Indeed survey, 52% of employers state that implementing remote work policies also resulted in reduced employee turnover – which also means a higher retention rate. How InfoStride Can Help You Build a Strong Distributed Remote Team? Today, many small and medium-sized companies going remote or remote-first are hiring remote talent to build a distributed workforce. But building a team of remote workers from different countries is not a cakewalk – especially if it’s your first time. From sourcing the best remote talent to employing compliantly and ensuring successful remote onboarding, there are many challenges to navigate for building a remote team. That’s what InfoStride specializes in: we help take care of every aspect associated with building remote teams. In other words, we manage talent sourcing, recruitment, payroll, compliance, taxes, benefits, onboarding and administrative tasks while empowering you to focus fully on a distributed team of remote employees. Our engagement model includes the BOT model for companies interested in building a remote tech team while reducing the cost to a minimum. If we’ve piqued your interest, reach out to us for your free strategic consultation. Conclusion Technology such as cloud platforms, collaboration and videoconferencing tools play a significant role in transforming the world of work. Building distributed remote teams don’t just help you hire the best talent but they even bring other invaluable cost-saving benefits to the table. If you haven’t yet embraced the new world of work, it’s high time! After all, empowering your team to work remotely will help them to thrive day by day and as a result, help your business to thrive.