As a small business owner, you may be wondering if there are any advantages to allowing employees to work from home. The truth is, even if workers are only working from home part-time, the benefits can be huge. In fact, many businesses now allow employees to work from home at least once a week and some employers hire employees that work from home full-time. Wondering what the benefits are? Here are just a few of the benefits of allowing employees to work from home.
It doesn’t matter if employees are working from home part-time or full-time, you can save a ton of money on overhead expenses. Whether it’s saving money on electricity or rent for an office space, the savings can be huge. For example, let’s say you decided to close your office and have employees work from home. Not only would you save on rent, but you would save on utilities, cleaning services and a number of other smaller expenses.
There are those that choose to run businesses solely using contract employees who work from home. These small businesses save thousands on benefits, workman’s compensation and employee taxes in addition to the savings of not running an office. Even if your employees are working from home part-time, you can still save on electricity and may be able to share the cost of the office space with another business during the rest of the week. Last, but not least, people love working from home so much that they may be willing to take a pay cut to do so.
Improved Turnover Rates
The idea of working from home is appealing to most employees. Most companies find that the employees are more likely to stay with the company when allowed to work from home because it increases morale. Employees are happy to have more time to spend with children and not having to waste time on a commute.
Employees working from a virtual office are 16% more productive than those working in an office. In most cases, a traditional office can be distracting. Gossip and water cooler chats can eat up a large percentage of an employee’s time. Most workers also find that they are more focused when working from home and not having to worry about the long drive home, paying for gas and other issues that come with working in a traditional office.
While you may not want to close up shop entirely, you may want to consider at least allowing your employees to work from home a couple days a week. Not only will your employees be happier, but you could save a lot of money.
About the Author: Joy Kanatzar is a real estate professional who asks all of her agents to work from a virtual office 4 days per week. She is able to better use her office space and save on operational costs.
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