5 reasons to build a remote company
Trust the?journey…
Trust that everything in your career will work out the way it should, and that you can’t stuff it up if it’s meant to be. All roads will lead you where you need to go, it might not be exactly how you imagined?it
– Kate Kendall, Founder & CEO, CloudPeeps
According to a study by Upwork (carried out among 1k managers), more and more companies are either going “remote” or embracing “agile” methodologies in order to complete projects and to meet deadlines.
55% of hiring managers now believe that “remote work” is very common and is the future of full-time work.
In 2003, a mere 19% of employees reported working remotely, while that number shot up to be 23% by the next era (as per the data presented by the?Bureau of Labor Statistics).
Beyond doubt, modern tech has made remote work more accessible than ever. What was once considered hard-core sci-fi is now a (mostly) accepted norm in the society. From the 1st industrial revolution to the 4th industrial revolution, our world has gone through changes so drastic (and dramatic) that not a single aspect of human life has been left untouched. And work is one of the most important aspects of our lives. The growing trend of remote(ly) workspaces is but one of the many touches of modern technology. In this article, the various auspicious sides of a remote company are discussed.
1. You want to go?global
While it may sound good in theoretical lectures, with the current 9–5 work model, it’s nigh impossible to take your business to a global level without having: (a) a solid infrastructure, and (b) solid cash capital.
At the same time, global brand recognition increases the value of the enterprise. Taking your business to a global level provides newer sources of revenue, yields greater ROI plus secures long term business success.
When going global, a company needs to deal with 2 major issues-
Going remote solves both of the problems in one go, thus facilitating the enterprise to move forward. The moment a company goes remote, they can focus more on the quality of their product/service and forget the tedious tasks of employee management.
Distractions, gossip, impromptu meetings, are non-existent?in?a?remote?workspace.
That’s why two-thirds of managers say that working remotely increases overall employee productivity.
2. You want a diversify your?business
“Our guiding management philosophy is: ‘Hire smart people and get out of their?way.’”
– David Fullerton, VP of Engineering,? Stack?Overflow
A company that lacks diversity, is either planning to stay the way they are or are planning not to expand its expertise at all.
In the current world, a company that’s not diverse is sure to be outdated by the coming decade.
Diversity is part of the goal of creating more inclusive companies. People from different backgrounds, coming from different walks of life, with different cultures and experiences, bring with them a different angle to look at products, tackling issues, and approaching problems. Remote work sets a company free from the boundaries set up by location, culture, language, etc. thus opening a whole new dimension to employee?diversity.
In a truly diverse work culture, people can hear about other people's experiences and sympathize with their problems. They can learn about the history and the social situations in their home countries.
This cultural knowledge comes in handy when designing online and in-person communities, working with international customers, strategizing new features for a globally used product, even?tackling some?trivial?issues.
Cultural immersion helps people step outside the bubble of their home town, their office, and the norms associated with physical permanence, and contribute to a much larger community of people.
3. You want a happy (& productive) team
A study at Manchester Metropolitan University in the U.K. found that people who work from home are happier than traditional workers.
Also, more and more disabled people are finding it a better way to join the workforce through a remote culture.
Fewer distractions (for the?disciplined?remote worker)?can lead to higher efficiency .
Almost 30% said that working remotely allowed them to accomplish more in less time, while 24% of those surveyed said they were able to accomplish more in about the same amount of time.
Stats about remote work show that? 82% of remote workers reported lower stress levels , and that’s a good thing not only for remote workers but for the companies that employ?them.
A workforce that’s productive is happy, and a team that’s happy is productive. Remote jobs can ensure employee satisfaction, which is a huge driving factor behind more and more companies going remote.
4. You want a healthier workspace
Certain aspects of in-house work have negative effects on mental and physical well-being… which are absent (or reduced) in a remote workspace.
In the UK alone, workers spend 58 minutes on average commuting to work. We can only imagine how much time is spent in the underdeveloped counties of the world.
领英推荐
Beisdes, Commuting length has been correlated with?higher blood pressure and negative mood in the workplace. Remote work removes the need for a commute and the associated negative effects.
But the benefits don’t just stop there. Overall workplace stress is vastly reduced with 82% of remote workers reporting?lower stress levels .
Over 3000 workers were? surveyed ?by FlexJobs who found 77% of respondents would be healthier if they had a flexible job and 86% would be less stressed.
Remote workers can be happier and healthier, and that can definitely have a positive impact on your business. The healthier, happier and more productive the employees are, the smoother the company runs.
In fact, you can’t expect a happy customer base from a worn out work force.
Loyal employees breed loyal customers.
5. You want to reduce?costs
Going remote is the best way to cut down your company costs. In a remote company, you have to spend the bare minimum.
The fewer costs you bear, the faster can you grow.
Companies of all sizes report significant decreases in operating costs.
According to a? Forbes?magazine report: Aetna (where some 14,500 of 35,000 employees don’t have an “in-office” desk) shed 2.7 million square feet of office space, saving $78 million. American Express reported annual savings of $10 million to $15 million thanks to its remote work?options.
According to PGi, businesses save as much as $10,000 in real estate costs per year per remote employee.
According to the Center for American Progress , employee turnover represents an often overlooked, yet significant, expense. After comparing 30 case studies from 11 research papers, the Center concluded that the cost of replacing a worker is, on average, approximately one-fifth of that worker’s annual salary.
Let the stats do the saying.
Even if you were not convinced by the above 4 (compelling) reasons, you are bound to be convinced by this one.
The cost-saving implications of remote workers makes a huge difference.
Conclusion
“If you’re going to go fast enough to succeed, you’re going to make mistakes. How you deal with those mistakes…that’s the key (Dan Levin, COO at?Box).”
– Breanden Beneschott, Co-founder/COO,? Toptal
When it comes to building a remote company, we need to remember that it is an emerging trend and an extremely new field of interest. There’s still a long way to go. There’re a lot of hurdles to?overcome.
As more and more companies go remote, and new startups pop up with a remote culture, we are bound to face new problems. But eventually, we’ll arrive at fruitful solutions. Till then, we got to keep trying. It is not going to be easy, but that’s why it’s worth doing.
At the end of the day, every new thing might look shiny from the outside, but there could be a lot of rough edges that might not evident. We need to smoothen those edges out, with skill and?effort.
“When it comes to challenging times, I often say, ‘If it was easy, someone else would be doing it.’”
– Giacomo ‘Peldi’ Guilizzoni, Founder & CEO,? Balsamiq
TLDR;
I suggest you read the whole post (if you haven’t already) but if you are short on time, then no hard feelings. Here’s the list for you:
1. You want to go global
2. You want a diversify your business
3. You want a happy (& productive) team
4. You want a healthier workspace
5. You want to reduce costs
Outro
I’d definitely appreciate some claps if you loved the article. After all, who doesn’t like a round of applause? ??
You can follow me around on?Medium to get notified whenever I publish.
Note: This post (article) was originally published on Medium.com