How SMEs Can Benefit From Remote Working

Driven by a desire to improve staff retention, boost sales and gain a competitive edge, an increasing number of businesses are embracing remote working policies.

In fact, according to figures from the TUC, approximately 1.5 million workers have ditched the office to work from home.

From eliminating the need for stressful commutes to encouraging a healthier work/life balance, the benefits of remote working for employees are clear. Remote working policies can help businesses too, reducing recruitment costs, slashing overhead costs and boosting productivity in the process.

Feeling skeptical? Let’s take a look at just a few ways SMEs can benefit from remote working:


Improve staff retention and reduce recruitment costs

When employees are trusted to work remotely and have control over their hours, workplace satisfaction can surge. Staff are likely to save money, achieve a greater work/life balance and experience less stress than those who have no choice but work in the office.

And with most companies still operating a strict 09:00 – 17:30 policy, those in more flexible offices are less likely to jump ship.

Remote working policies can also slash recruitment costs by giving your company a professional edge over your competitors. You’ll find it easier to attract talented employees because not only will your company be more desirable, you’ll also be able to attract applicants from further afield.


Boost productivity

Many employers fear that productivity will plummet when they agree to let staff work from home. If you don’t like the thought of employees binge-watching their favourite show on Netflix or heading down to the pub instead of working, you may be pleased to learn that remote working is actually proven to boost productivity.

Professor Nicholas Bloom puts the productivity rise down to a quieter environment with less distractions. He also believes that eliminating a daily commute helps boost the amount of work that gets done too, as employees are more likely to clock up more hours if they don’t have to spend time travelling.


Reduce overhead costs

Allowing employees to work from home could see your expenses plummet. The amount you’ll save will of course depend on the rules that you’ve laid out and the level of flexibility you offer.  

If you’d like to drastically reduce overheads, abandoning the traditional office environment completely could be an option. You’ll no longer need to factor furniture, employees’ electronic devices, electricity and other running costs into your budget.

Alternatively, you could use your office as a base and enable staff to work from home on a regular basis, calling frequent meetings at the office to catch up with everyone’s progress.

If you want minimal disruption to the way you currently work, you could continue using your office  as the primary hub of your business, while giving employees the chance to work from home in special circumstances.

By saving money on overheads and recruitment costs, you can free up cash to be invested elsewhere in your business. Whether you want to hire an additional member of staff or purchase a particular tool that promises to transform your business, this could give you the cash flow you need

From embracing cloud technology to using apps especially designed for collaboration, there are plenty of ways to make remote working policies run smoothly. To learn more, please get in touch with the team at Prism.