My startup has found huge success, but not just because it filled a gap in the Dallas market, or because we provided digital services better than the competition.
My business went from a two-person job to a million-dollar company in part because we decided to work smarter rather than harder – though there was a lot of hard work involved too.
And one of the ways we worked smarter was by encouraging our employees to work from home.
Sound counterintuitive? Sound fake? It’s actually not – and there are a lot of reasons why it has worked for us.
And though working from home isn’t feasible in every industry, let’s see if I can show you that it does have a place in many modern-day businesses and is a great benefit for both you and your employees.
Satisfaction & Retention
Of course, this is a great starting point, as many younger generations like Millennials (which are currently the largest part of the workforce) prefer to work from home, have flexible schedules, and no commute.
Essentially, the happier your workers, the easier it will be to keep them. And the longer you keep your employees, the more value they give you and the less you have to spend on training and finding replacements.
Access to a Larger Hiring Pool
This is a great second point, as (hopefully) your company will be growing, and you will be hiring to match that growth. So, while you want to keep your current workforce, you also want to be adding new, quality individuals to your team.
If you offer flexible work schedules, work from home opportunities, or remote work positions, then you actually have a much larger potential hiring pool than if you only offer 9 to 5, in-office positions within your city.
Take my company for instance. JSL Marketing & Web Design has three team members in Michigan, even though we are a Texas-based company. And when two of those three team members joined us – they were living in Spain.
Why did we choose them instead of only searching in our local pool? Because they were good, hungry, and ready to grow with the company – even from overseas (or on the other side of America).
Lower Overhead = Better Profits
Time and time again, studies have shown that allowing your team to work from home is cheaper for your business.
The answer is actually two-fold.
First, you are able to forgo a larger office, or maybe any office at all if your team is fully remote. And second, often you end up paying less for your team, physical resources for the office, and a thousand other little expenses that pile up.
On a familiar scale, think of it like taking your team out for dinner vs them eating in their own home. Which is cheaper for you? Except (luckily) in this scenario – everyone wants to be eating at home instead of going out.
Flexible Schedules > Higher Salaries
This fits in with the above perfectly, as you can actually pay your team less (lowering your overhead) by letting them to work at home – and they’ll still be happy!
This is because your team won’t have to waste time commuting to work and will gain flexibility, which, for many, is worth taking a lower wage.
The draw of working from home is so strong, that almost all Millennials say they would prefer to work from home or gain another perk like flexible scheduling instead of getting a pay raise – over 89% actually!
I love helping companies succeed. From business consulting to sales coaching, digital services to speaking engagements – I want to make your company a success and give you the tools you need to beat your competition.
Stay tuned, as JamesLeff.com is coming soon to tell you more about my brand, experience, and services.