Do Companies Offering Remote Work Have an Advantage in Attracting Talent?

While remote work may have been impossible thirty years ago or 15 years ago, technology made it possible for almost every industry.
Do Companies Offering Remote Work Have an Advantage in Attracting Talent?

In the past few years, remote work has become a hot topic throughout the economy. According to the US Labor Department, more employees are quitting their job than they have in the past twenty years. As people resigned, lost their jobs, or reevaluated their lifestyle and health, remote work became a popular solution.

74% of workers believe remote work will be a standard (Forbes). It's a top priority for many professionals. But what about companies?

While remote work may have been impossible thirty years ago or 15 years ago, technology made it possible for almost every industry. Even in industries that require labor on the floor, some large portions and departments don't need employees to be present physically.

Today, companies are embracing remote work. If they can't transition 100% to remote operations, they adopt hybrid solutions. Companies that ignore this powerful upward trend will lose the upper hand in saving costs, innovation, and technology. But more critically, they will lose out to the best talent.

A significant portion of professionals wants remote work (or at least a hybrid version). When companies offer the option, they increase their chance to getting the best talent that crosses borders, state-lines, and cost-of-living barriers.

Companies have a clear advantage when making remote work part of their business model.

You Have Powerful Leverage

When you offer remote work, candidates will consider your offer more than others. One Glassdoor survey found that 80% of employees prefer more benefits than a pay raise, signaling their value over lifestyle, flexibility, and autonomy over more money. Remote work offers them benefits and increases companies' morale, productivity, and results.

The Wall Street Journal reports, "Even whispers of returning [to the office] have been enough to send some professionals searching for an exit—and plenty of bosses are welcoming them to new jobs with the promise they can work remotely, at least most of the time."

In the competitive supply chain and logistics industry, remote options will differentiate companies from competitors and put their offers on the top of the list for candidates searching for a job.

You Expand Your Talent Pool

Remote work has changed the entire talent landscape. We saw how powerful this shift was in Silicon Valley as top companies like Facebook, Google, and Twitter, opened the doors for remote work to compete with their industry.

Most great talent will not live in your city, even if it is an industry hub. They are spread out around the world. Many do not want to make a significant move, drastically shrinking your talent pool. You're left with a small pool, competing for the same talent with other companies.

When you can hire anyone globally, you have access to more talent. You can hire top professionals who are attracted to remote work. If they have similar offers in front of them and yours is the only one with remote work, they will likely choose you instead.

Employees Save Costs

Between commuting and cost of living, companies that offer remote work give employees more control over their expenses.

Commuting costs money. Car maintenance and gas can cost several hundred dollars or more a month. Remote workers save these costs and can use the funds for their life's much-needed goals. This is one way a company doesn't have to spend money and still put more money in their employees’ pockets— a win-win.

Employees also save time from commuting. They can spend that time with their family or work on projects for the company.

Remote work gives employees the power to change their lifestyles for the better. They can choose different locations based on their needs. If they want to save money on housing or live somewhere around the world, they can make it happen.

Not only does this attract talent, but it also helps retain talent. You can get the best talent AND keep them with great policies.

You Build an Attractive Culture

You can offer the highest salaries, best benefits, and the most incredible career track, but you won't stand a chance if you have a toxic culture. Your turnover will be high, and once word spreads around, top talent won't even consider your company.

Remote work gives employees flexibility, autonomy, and the power to do their best job. This is the perfect foundation to create a place that people want to work in. You will attract great talent when you have a healthy, happy, and contagious culture.

You can implement technologies, apps, and other communication devices that help boost synergy, collaboration, and community.

The best talent look for places they can thrive. With a positive and productive culture, you become a top choice. Remote work creates a better work environment for professionals.

Employees Can Live Where They Want

One theme centers around all the points we've covered so far: people want more control over their lives. If they can do an excellent job for you and love doing it, why not make remote work a possibility? Happy employees make a happy company, which means your customers are happy too.

Thanks to technology, people can live wherever they want. The only barrier is time zones, and even apps make it easier to maneuver scheduling and communication throughout the world.

Employees can choose the life they want, where they want it. If companies can offer remote work and the option to live in different locations, candidates will consider the company more than others.

Once the candidate is hired, they'll want to stay as long as possible because their job is linked to their dream location.

Yes! You Can Attract Talent with Remote Work

As you develop remote work and hybrid policies, think of how your company can leverage them to attract the best talent in the industry. You can turn the "talent shortage" into a global, thriving talent pool.

Salaries and perks are great tools to compensate for great work. But if you want the best talent in the industry and a bigger pool to choose from, add remote work to your business model.

Author

Friddy Hoegener

Date

27 April 2022

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