If you’re looking to save money, you might want to try and convince your boss to let you work from home, or find a job where you can work remotely full-time. The financial benefits of working remotely are huge — this isn’t just an article for employees, but employers too. We’re going to look at why working remotely has huge benefits for both businesses and their employees.
Firstly, as a business owner, you’re probably aware of how many costs are associated with actually supporting an employee while at work. There are also costs for workers, too. So let’s have a look at them both in turn.
Costs for the employer
If you’ve got staff that you need to keep in an office, this costs you money. Firstly, you’re going to need bigger premises to support them and give them room to work. The more employees you’ve got, the more office space you’re going to need, and office space costs money to buy or rent. So you can obviously see how running a modern workplace where employees are free — or at least encouraged — to work from home can free up office space, or simply mean you don’t need as much.
While it’s the most obvious cost, being able to have a smaller office isn’t the only savings you can make from building a remote workforce. You’ll also save on all the other associated costs like electricity, security, toilet paper and anything else you need to spend money on to keep your staff happy at work.
One other benefit to employers allowing their workers to be a bit more flexible is that it could improve productivity. If your employees are happier by being allowed a bit of leeway with regards to where they’re allowed to work, they could be extra motivated, improving productivity. Just make sure you only allow the right employees to work remotely, as some workers will need a boss in the same area as them to keep motivated and productive.
Costs for the employee
Even though your boss or business pays for things like computers and office space, as an employee it still costs you money to work from a traditional office. The main cost is obviously getting there and back — whether spending on your own vehicle or paying for public transport. Even if you walk there, time is money, and there’s no easier workplace to get to than one that’s in your own home.
You could also save on other costs like lunches, as you’re able to prepare your own in the kitchen rather than pay for a costly lunch out every time. Working remotely gives you the flexibility to choose where you work, meaning you could move to a cheaper location that’s further from your old office, saving even more money. You could even go on a road trip and work remotely from your RV — click here for more on that. The possibilities are almost endless when it comes to being given that extra bit of flexibility to work remotely, and many of them could help you and your family save money.