Everyone Back to The Office? No, WFH Is Here to Stay
In an increasingly tight and competitive job market, you have to cater to the talent you hope to attract. The recent global pandemic had a dramatic change in the workforce, and it seems like all candidates have one thing in common: they all want the option to work from home (WFH).
Large office buildings, luxurious amenities, and shared workspaces were once used as selling points for employers. Post-pandemic, those things have taken a back seat as candidates seek more control over their work-life balance. That’s why WFH opportunities are overwhelmingly popular among candidates considering a job change.
Why is WFH so in-demand?
At the start of the Covid-19 pandemic, employers and employees had no choice but to pack up the office and work from home. As things progressed, companies and employees proved that remote work could be just as, if not more efficient compared to in-office work.
WFH has helped improve worker efficiency for several reasons, including:
- No commute: The average worker saves around 408 hours per year when they don’t have a daily commute.
- Advancing technology: Companies are able to provide home offices needed to set up employees for success remotely, including cloud access to vital systems.
- Flexibility: Remote workers can better manage their work and personal commitments, which reduces stress and improves focus.
The result is that employees feel less stressed and are more productive. In fact, with the saved time and flexibility employees have, WFH employees can be up to 47% more efficient than their office-bound colleagues.
With the capabilities we have today, only 4% of companies are requiring workers to return to the office full time, and over 74% of companies are offering some type of hybrid work schedule.
It's not just about the ability to attract new talent, but a remote or hybrid offering has become critical for retaining current employees. An overwhelming majority—97% of employees—say they do not want to return to the office full-time, with 61% of employees reporting that they prefer being fully remote.
The benefits of offering WFH options
A WFH option has quickly risen to the top of the list of motivators for seeking a new job only behind greater pay and better career advancement opportunity.
With remote work being a top benefit that job seekers are looking for in their next opportunity, there are also benefits organizations will reap by providing this offering.
- Improved employee retention: Employees with WFH opportunities report an increase in satisfaction and affinity for their job.
- Larger talent pool: Without restricting geographical location, organizations can open up their talent search throughout the country.
- Lower overhead cost: More remote employees reduce the need for large physical office spaces.
The unemployment rate is at an all-time low, with only 3.5% of eligible job seekers remaining unemployed. With such a small unemployment rate, it is crucial to offer the benefits job seekers are really looking for: remote work. In the ever-changing world we live and work in today, we must adapt to the challenges presented to us. With our technological advancement, it has never been easier to offer WFH and give employees the chance to strike a healthy work-life balance.
What WFH means for recruitment
With all the benefits that come along with a remote or hybrid model for both employers and employees, this benefit should be at the top of every organization’s offering. Employees have proved that they are more than capable of working from home while maintaining—and even exceeding—expectations. A remote offering is proving to be an increasingly valuable benefit in an ever-competitive job market.
A remote work offering is essential in recruiting and retaining not just top talent, but the overwhelming majority of candidates in today's job market. While the feeling sensed across the market is that candidates like to work for a local company or one that has a local office, it isn’t as important as the ability to work from home. A WFH offering is by far the most attractive benefit that candidates want and companies who do not offer that time after time lose candidates to organizations that do.
To make the next step and expand as a business means offering those employees capable, the ability to work remotely. Employees have proved over the past years that they do have the ability to perform their jobs and do them well while working remotely. While employees are working more efficiently remotely, they are also reporting being less stressed. Implementing a strong culture that can engage remote employees is key to retaining and attracting new employees.
Need help with your WFH culture?
Remote and hybrid teams can present a challenge, especially when it comes to maintaining a strong organizational culture. You’ll need a great HR strategy that equally supports in-office staff and people who work from home.