Become a Talent Magnet
Even before the pandemic, many employees wanted the ability to work remotely at least part-time. In fact, according to a 2018 Owl Labs survey, 71 percent of workers said the ability to work remotely would make them more likely to choose one employer over another. Perhaps even more surprising, 34 percent said they would take a 5 percent pay cut for a remote job.
Also, when jobs aren’t restricted to locations, your company can pull from talent pools it would normally not have access to, either in more cost-effective parts of the country or overseas.
So, what happens to your existing employees when you start offering flexible work?
According to the Owl Labs survey, remote workers were 13 percent more likely to say they planned to stay at their current companies for at least five years. What’s a 13 percent reduction in turnover worth to you?