Startup Resources: Data Behind Startups Working Remotely

By Fernando Berrocal




Several kinds of research across the world have shown that, along with significant findings on how remote work is transforming the workplace in all types of industries and sizes of businesses, startup settings may be an especially good fit for remote work. Why do you think that is happening? Many kinds of research, even before the pandemic, revealed that smaller businesses are twice more likely to recruit remote workers than bigger ones when looking at remote work by business size, after COVID 19 those numbers are even higher. When it comes to adjusting to this cultural trend toward flexible employment, startups have the upper hand when it comes to the stage, sense of innovation, hiring demands, and agile state. Startups are better positioned than other businesses to move to remote employment more smoothly, and so are more likely to get far more benefits. These are some of the reasons why this happens.




 

 

Reason 1 - Remote Work Increases Talent Pool:  Recruiting the finest possible staff is probably one of the most essential aspects, and it can make or break your long-term success. Finding the perfect individual may be challenging, especially if your options are restricted by your network. Removing any regional restrictions is one of the most effective methods to expand your talent pool. Consider that your ideal VP of Engineering might not be within driving distance. Businesses that are willing to expand their workforce by recruiting remote workers are far more likely to discover the specific skillsets required for the position. Utilize that knowledge to your advantage.


Reason 2 - Diversification of ideas is increased: Another significant advantage of recruiting outside your bubble is being a diverse business which is a trend that is becoming more popular in recent times. When geographic boundaries are removed, you will most likely encounter individuals from all over the country (or even the world) with a variety of viewpoints and experiences. Take advantage of this chance of becoming a global business. Hiring a remote team may be a powerful tool for finding applicants and workers with backgrounds that are vastly different from your own and your business will only get more successful.


Reason 3 - Working from Home Builds Trust:  It's natural for executives to be concerned about productivity while working with remote staff for the first time. Will the remote workers make good use of their time? If you can't see them at her desk, how will you know? The problem is a lack of trust. In this scenario, the manager must remove himself from the desire to "monitor work." That is a cultural poison that does not scale. As the business expands, it will be especially important to establish a culture of trust early on. Startups don't have time to look after their children. Allow your teammates' accomplishments to speak for themselves.




 

 

Reason 4 - It Promotes Adaptability: Employees at a business in its early stages are likely to work long and irregular hours and from a variety of locations. According to the “State of Remote Work”, a study before the pandemic showed that 51% of remote employees prefer to work from home to maintain their work-life balance. That number has changed a lot during recent years, since in every business, finding a work-life balance is a struggle. Supporting remote work to bring flexibility to one's life, on the other hand, makes it simpler to manage personal and professional goals. Happier employees are more likely to work harder.


Reason 5 - Creates a Startup Remote-Work Culture:  The more a business grows, the more difficult it is to make significant cultural changes. While it is feasible for a later-stage organization to migrate to a remote or flexible work environment for the first time, it will require substantial planning and communication across the whole employee base. Remote employment is also a motivator for businesses to grow communication early on. Consider that for a moment. You may count on your proximity to communicate successfully when you have a tiny startup focus in the same location. If your business is geographically dispersed, you'll need to understand how to communicate successfully across time zones and technology.


Reason 6 - Lowers Office Costs: As a startup, every penny counts. Leaders need to make smart investments and keep a close look at the impact of their funds. While saving money shouldn’t be the primary advantage of supporting a remote work culture, it certainly can be a perk. While of course, you should financially support your remote employees' “work-from-home office setups”, the costs will be substantially lower.


Reason 7 - Employees have Retained: The most surprising finding in the State of Remote Work report was that organizations that enable remote work had a 25% lower employee turnover rate than those that don't. The number has possibly increased by a fair margin due to the emergency of the COVID 19 situation.


Perhaps you aren't as startled as you think, given the preceding arguments. Businesses that encourage remote work are more diverse, adaptable, and trustworthy, as we've seen. You'll be off to a fantastic start if you develop your business with those building elements in your DNA.


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