Working from Home – What are the Benefits?

The notion of working from home can lead to endless possibilities. After all, who wouldn’t want to take care of work in their PJs? In fact, you can answer all your emails on a pleasant sunny beach. Interestingly, working from home has numerous benefits for employees and as well as the employer.

Here are some of the most practical benefits of working from home:

More Productivity

Working from home means you will encounter significantly fewer distractions. Consequently, your higher attention span will render more productivity than you can imagine. The idea, however, is to form a self-disciplined environment where you can avoid interior sounds from, say, television.

More Happiness

Many remote workers profess to more happiness as compared to working in a traditional office environment. And that’s because remote employees tend to create a better life-work balance and get to spend more time with their friends and family members.

Higher Degree of Flexibility

One of the perks of working from home is you get to choose the hours you want to work. So long as you finish your work to a higher standard, business owners wouldn’t have an issue with your selective working hours.

In simple terms, a higher degree of flexibility enables you to fulfill promises, attend appointments, and take care of personal matters without having to lose much time.

Retain Employees

Unlike a traditional office setting, you don’t have to endure the uncomfortable risk of contracting an illness. In fact, it’s a great way to avoid the spread of germs to your colleagues. In addition, working from home allows you to have less mental stress because of the daily commute.

As a result, your company will be able to retain employees. Besides, employees’ decision to stay with your company for an extended period will reduce your extraneous HR costs. Furthermore, when you allow your staff to work from home, you get to reduce uncertainty.

Another benefit of working from home is avoidance of micromanagement. Now, it might not come across as a big issue, but the elimination of constant micromanagement can build trust between the employees and employer.

Cost-Efficient

If your company asks most of its workers to work remotely, you can save plenty of money on supplies and office space. As a result, you will be able to spend the money you save on hiring more talented individuals or grow your business.

Eco-Friendly

If your business continues to allow staff to work from home, you wouldn’t have to renew or lease an extravagant office. Instead, a smaller office might be more suitable for your needs. As businesses are getting more environmentally friendly, you don’t want to get left behind. You can, for instance, consolidate your unused office-related space.

And if you want to grow your business within your small office structure, allowing more employees to work from home means a significant reduction in expenses. The elimination of commute, on the other hand, also reduces the footprint of your workers and saves the environment altogether.

We can help with all of your business and personal tax and financial planning needs. For a strategic review of your finances, please contact us.

Disclaimer: We don’t take any responsibility for actions taken based on above information. Please speak to our financial advisor if you need more information. This guide was written specifically for Smart Accounting clients. Some of the information contained in this guide might not be applicable if you do not have a business managed by Smart Accounting. By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details are correct at time of writing.