Remote Work Opportunities are Growing

Remote Working

Remote Work Opportunities are Growing

Remote work opportunities are experiencing growth. In a continuing attempt to innovate and give workers what they want in today’s ultra-tight labor market, employers are expanding their employee benefits menus to include more remote work opportunities.

In fact, according to a Robert Half survey cited in a recent BenefitsPro article, more than half (56%) of companies have expanded their employee benefits to include remote work options within the past three years. With the U.S. unemployment rate around 3.6%, it’s essentially a “buyers market” for job seekers. Thus, “businesses need to provide greater workplace flexibility to attract and retain top performers,” noted Paul McDonald, senior executive director at Robert Half who was quoted in the BenefitsPro article. Add competitive employee benefits, like remote work, to the list.

Remote work is an appealing employee benefit, indeed. Nearly three-quarters of parents (74%) are taking advantage of employee benefits like emote work opportunities, compared to 64% of workers without children, according to the Robert Half survey. Almost half of employees (47%) say their company provides the option for remote work as part of their employee benefits. Of those, a full 70% work from home, 6% work remotely in other locations, and 24% always work in the office.

Why would an employee choose not to work remotely if it was offered as part of their company’s employee benefits package? Around 39% said they don’t have the right technology, 38% noted they weren’t as productive working remotely as they were when working in the office, 29% reported they felt like they were missing out on opportunities and assignments by not being in the office, and 22% said remote work made them feel lonely, the Robert Half report found. The top cities where remote work has become a prevalent part of an employee benefits package are 1. Atlanta, 2. San Diego, 3. Minneapolis and 4. Indianapolis and Portland (tie), according to the Robert Half survey.

Remote work is an employee benefits perk because it can provide job opportunities for employees with their own needs, such as parents who need flexibility on the job to be present for special needs children, or to care for an aging parent. Remote work can also be a smart employee benefit for new employees and workers transitioning back to a job after recovering from illness. It’s also a good employee benefit for employers, because it improves their recruiting and retention efforts, as well as provides a boost to productivity gains for the nation’s economy.

And the impact of remote work is significant. Nearly 70% of people who currently aren’t working or qualify as “economically inactive,” meaning they gave up working to care for children or elderly relatives, or Boomers who are semi-retired but desire to remain active by being in the workplace at least a few hours a week, say that if they could have access to  employee benefits such as a flexible work arrangement, they’d be interested, according to a report from The Center for Economics and Business Research, also cited by BenefitsPro. Remote work flexibility in employee benefits could translate to $2.08 trillion in economic gains in the U.S., plus a 10.2% boost in GDP.

Remote work is on the rise, and it’s an employee benefits trend employers should keep a careful eye on. It offers significant perks for both employers and employees, and in today’s constantly connected, always-on world, providing remote work arrangements as part of your employee benefits package makes sense.

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