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The financial benefits to remote working

remote workingWith desktop software, mobile technology and cloud storing platforms, more and more companies are choosing to cut their overheads by making the switch to work remotely. Most companies that employ the traditional office environment can be altered to allow for remote working.

If it makes sense for the type of work you’re doing, then working remotely can increase creativity, innovation and production. Remote working is fashionable and a desirable benefit for candidates looking to be employed. A recent survey of UK workers shows that 31% of people would rather have a flexible approach to working. What is helping is that technology has made it easier to thrive in this type of environment. Here are some of the financial benefits to remote working.

Technology has improved dramatically over the years, which means you can, essentially, work from anywhere in the world. Even if your employees need access to the same information at one time, working via the web can hold more storage and at a faster speed than a typical static data server.

On today’s market there are modern hosting websites that offer this and around the clock protection, so you can work knowing your business output is safe. These sites are often a lot cheaper than having to pay out for your own, as well as cutting the ongoing costs that comes with owning your own website platform.

What has made working remotely more efficient is that free Wi-Fi, or cloud hotspots are easy to find. The easier it is to get online the easier it is to complete tasks efficiently. This will keep clients happy, which can bring work in, improve the reputation of your business and increase client retention.

One of the more obvious benefits that comes with remote working is that you won’t have to pay for the costs of running an office. This means no rental fees, no paying for office fixtures and no continuous energy bills. The amount of business insurance you need will decrease too.

You will still have to pay for Employee liability insurance, if you have more than one employee who is not a family member. If you have employees working remotely you may benefit from acquiring business content insurance. This will financially cover you for repairs or replacements on electronic equipment such as laptops and smartphones, if they break while your employees are on the move.

When your company works remotely you’re opening up a whole world of potential candidates. This means you can hire the right person, with the right set of skills to exceed your business’ needs. Financially, this could mean that you only hire the most ideal candidate, shaking off the loose ends who reduce productivity.

You never know, you could find that one candidate who can successfully complete the job of two. A bonus that comes with promoting working remotely is that it can improve health and wellbeing for your employees. They’ll have the freedom to work from home, improving their work life balance, which just goes to show that both you, the business owner, and your employees can benefit from working remotely.