More people than ever are working from home. The accessibility afforded by email, cloud computing, and cell phones has made telecommuting a fixture in the modern work environment. But it doesn’t just appeal to employees. Small business owners can reap the benefits as well. In an uncertain economic climate, employers are looking to cut costs wherever they can. Check out how a solid telecommuting team can save your company money:
1. Decrease Turnover
Average turnover can cost a company up to $25,000 per employee. While the exact costs vary based on industry-specific factors, you can’t deny that it’s better to keep your workers working. Telecommuting can be a big incentive for employees to stick around, especially if they’re considering going to a competitor who doesn’t offer that benefit. By instituting a work-from-home policy, you might end up collecting the most talented workers in your field and getting an edge in the industry.
2. Reduce Payroll
Telecommuting employees can help slash your small business payroll and reduce labor costs. If given a choice, many staff members will take the flexibility of a remote position in place of a salary increase. Others might even opt for a pay cut to work from home. In a survey conducted by Dice.com, more than one-third of IT professionals stated they’d take as much as a 10% reduction in salary if they could telecommute.
3. Impact Energy Costs
Fewer staff members at the office every day means fewer computers being powered up, less light used, lower HVAC costs, and a host of other energy-saving benefits. Employees working from home might be able to write these costs off when they file their tax returns – depending on their official employment status – so they’ll often be happy to take them on as personal expenses in exchange for flexibility at work. Read the rest of this entry »