Due to the pandemic outbreak in 2020, many companies are choosing to have their employees work remotely, including industry leaders such as Google and Microsoft. Remote work has proved surprisingly beneficial, and most software engineers now work remotely, with 86% working remotely full-time. There has been a surge in the number of software engineers working remotely, with at least two-thirds of developers hoping the remote work trend is here to stay.
However, many companies are still hesitant to let engineers work remotely. If you're not sure remote is right for you, keep reading to learn why you should make the switch:
- 100X talent pool
Hiring the right people has always been a challenge for companies. Today, there are just as many open positions on job boards as there are qualified candidates. The good news is that working remotely gives you greater access to a global talent pool. Since there are no geographical restrictions, you can find the right talent from all over the world. According to research, engineers in Asia can save you up to 15% of your company costs. Offering fully remote positions and assembling remote teams can give you a competitive advantage.
- Saving on operation costs
With remote staff, companies save money by cutting out the need to rent/lease office space. This decrease in operational costs frees up more money for projects, new hires, and company growth.
They also lose less money to absent employees – the CDC estimates that employers lose $225.8 billion dollars on sudden worker injuries and sick days annually. With remote staff, employees can still work from home while recovering, and without exposing others to contagions, leading to a healthier workforce overall.
According to our clients, they always end up finding that their operating costs are reduced by at least 20% with Brix!
- Higher employee retention rates
Employee turnover is a harsh reality and a source of frustration, considering the time and stress that goes into hiring and training new employees. There are even hidden costs that add up fast: when calculating for loss of productivity, impact on morale, and loss of important information, replacing one technical employee alone is estimated to cost 100%-150% of their salary.
With an average turnover rate of 20.9% in 2019, tech companies are particularly vulnerable and need to maximize employee retention.
Employees are more likely to stay with a company that provides remote options, citing reduced commuting costs and better work-life balance. Remote work can even be beneficial for mental health management. All of these benefits clearly explain why 81% of workers want more flexible options from their employers.
- Increased productivity
Many people believe that working in an office is more productive because human interaction is more direct, especially for sales and marketing teams. But this is not the case for engineers, who often need to write code independently, deal with bugs, and test the results. Through remote team collaboration, engineers can complete their tasks in a quiet and familiar environment after receiving the task and discuss it with everyone when teamwork is needed. Fewer distractions, faster results!
- Improving agility and future development
For many companies just starting out, it is essential to improve agility. This is because start-up companies need to adapt to rapidly changing market conditions, especially through rapid internal adjustments to external markets. Hiring a remote team of engineers can help a company draw on capable people from around the world who may have strengths and abilities better suited to the company. It can also help the company adapt to local markets more quickly when it wants to develop international expansion in the future, and to implement solutions 24/7. Brix has many talented candidates around the world and has a good understanding of global laws and regulations and payroll systems. Choosing to work with Brix can certainly save a company a lot of worries.