There are many benefits of remote work, from increased productivity to a better work-life balance, remote working is the future. In recent years, especially since the COVID-19 pandemic, working remotely has been a change that many traditional office workers have opted for.
Not only does a remote job provide employees with a flexible work schedule but it also improves employee retention, encourages better mental health and can prove to be cost-effective for a business in the long run.
While these are all great reasons for explaining the recent increase in popularity of remote work, the advantages of remote working are endless. From personal life flexibilities to improved work performance, remote work benefits are great for both the employer and employee. However, employers must consider external methods of supporting remote workers outside of the traditional flexible schedule benefit.
Explore the top four employee benefits for remote workers you can potentially offer your remote staff and take advantage of this viable work structure.
Types of Remote Work
The pandemic shifted many aspects of our lives and remote work was just a blessing in disguise waiting to gain popularity. From asynchronous work to partially remote work, there are many forms of remote work. Here are a few types of remote work options your management can choose from when designing a remote employee benefits package.
Fully Remote Work
Many remote jobs are designed to be fully remote. In fact, post the pandemic, nearly 50% of US workers say they are willing to take a 5% pay cut if it means shifting to a remote working arrangement. Fully remote work is when employees have the ability to work remotely from anywhere at any time. Irrespective of their geographic location, these fully remote employees can have the freedom to create their own schedules and working environments. Whether they choose to work from a coffee shop or the library, these fully remote workers can create their office environment anywhere.
When employees work remotely in this type of working arrangement, it is crucial for them to have strong communication and collaboration skills, so that they can stay focused and complete each task despite being miles away from their work teams.
Partially Remote Work
Partially remote work is another type of remote working arrangement where employees have the option of working from home for a few days a week. Encourage employees to take advantage of working from the comfort of their homes while benefiting from being in a traditional office space with this working arrangement.
Freelance and Contract Work
Freelance and contract work is another popular form of remote work that allows freelancers to choose their own projects, and work on their own terms. This is an ideal working arrangement for those who are looking for flexible working arrangements.
Other Working Arrangements
From telecommuting working arrangements to having on-site employees, there are various other types of remote working arrangements to choose from. However, one thing in common among all these forms of remote work is the support remote workers expect from their employers. Remote work benefits for employees are something that all potential candidates and current employees expect from their employers.
Keep Your Remote Employees Happy with These Four Benefits
Traditional employee benefits, such as free coffee or games in the break room are a thing of the past. In this new era of remote work, employees wish to stay engaged and connected through virtual events. Other benefits such as flexibility are preferred over gimmicky in-office perks. So what perks do remote employees really want to complement their salaries and at-home offices?
Here are four tangible benefits you can offer to keep your remote workforce happy and satisfied:
- Monetary Perks: Providing Financial Incentives for Employees Working Remotely
Your remote employees don’t necessarily have a well-furnished workspace ready to go, but they would appreciate receiving financial incentives for working remotely. Financial incentives can come in many forms. Whether it’s offering your remote employees a home office expenses allowance or a compensation package, having monetary perks is a great benefit that can attract top talent and retain your current remote staff.
Monetary perks greatly impact an employee's motivation and engagement. When a company decides to hire remote staff, it becomes crucial for employers to consider the various benefits they can offer their remote workforce to ensure their satisfaction, productivity, and overall well-being.
A popular form of offering monetary benefits to your remote staff is by offering a stipend, subsidy or allowance to cover their home office expenses. This includes costs associated with setting up a designated workspace, purchasing necessary tools such as a laptop or desk or even reimbursing their high-speed internet service.
For example, if the remote company offers a workstation set-up subsidy such as $500 toward a new desk, office chair or computer monitor, then remote workers have the opportunity to create a workspace that’s comfortable and tailored to their unique working habits. Now every time the employee sits down to work, they will be thankful to their employer for providing them with the opportunity to succeed.
By providing financial support for these essential work-from-home needs, employers show their commitment to the comfort and productivity of their remote staff.
Flexible compensation packages are another popular monetary perk that can be offered to remote employees. Alongside offering a fixed annual salary, employers can offer various benefits such as additional paid vacation days or health care benefits. With a flexible benefits package, remote workers can prioritize their requirements and be satisfied with the benefits they receive.
Monetary perks can also include performance-based bonuses or rewards. These incentives can be offered once a goal or achievement is reached. This is one way to appreciate your remote team which encourages them to continue with their exceptional performance and excel in their jobs.
Providing monetary perks to your remote workforce is advantageous for both the employer and their remote employees. Whether you offer your employees monetary perks through flexible compensation packages, performance-based bonuses, or other forms of compensation, these perks are a way to encourage employees to perform better in a comfortable working environment.
Foster employee satisfaction and motivation alongside attracting and retaining top industry talent in an increasingly competitive job market with monetary perks for your remote employees!
- Flexible Time Off
Having flexible time off is one of the many benefits that remote employees look for. Since your remote employees are not confined to a traditional office setting, having flexibility when it comes to taking time off becomes a necessity for maintaining a healthy work-life balance.
Flexible time off allows your remote workers to take control of their own schedules and take the time off whenever they need it without facing any penalties or repercussions. Despite working outside of a traditional office, these remote staff members can attend to their personal responsibilities while still completing their tasks in a timely manner.
Foster a culture of trust and bonding between employers and their employees by offering flexible time off. Yes, you read that correctly. Employees want to feel valued and appreciated, and this can be possible when they are given the freedom to manage their own time and create a schedule that works best for them. For example, an employee might have to look after their sick child and might need a few days off. With flexible time off, they can look after their loved ones and get back to work at a convenient time. When an employer shows initiative and respects their remote employees boundaries, they create a strong bond filled with trust.
Benefits like this will lead to an increase in job satisfaction and productivity. Apart from those benefits, you can also attract and retain remote workers by offering flexible time off. How you may ask? Flexible time off can result in a positive company culture. When the employee feels supported, they are more likely motivated to complete their goals and fulfill their work responsibilities to the best of their abilities.
- Health and Wellness Benefits
There are approximately 3.2 million deaths a year as a result of physical inactivity. While this may seem like a drastic connection to your remote employees health and wellness, there are many implications of working remotely. Without the structure and support of a traditional office environment, it can be easy for remote workers to neglect their physical and mental health.
For one, working remotely can affect a person's mental health since there are very limited human interactions. By providing mental health support such as counselling services, mental health hotlines, or subscriptions to meditation or mindfulness apps, your remote workers can manage their stress, and anxiety, and maintain a healthy work-life balance. While working remotely can be isolating and take a toll on an employees mental well-being, you can provide adequate resources to overcome this implication.
Promote a healthier lifestyle for your remote workers by including subsidies or memberships to fitness facilities, reimbursement for fitness equipment, or access to virtual fitness classes. By encouraging a more active lifestyle, you can create a positive company image while encouraging your remote team to regularly exercise, eat healthy and focus on their physical and mental wellness.
Healthy employees are productive employees. Many benefits packages offer healthcare coverage but fall short of flexible offerings like health and wellness spending accounts. Offering a health and wellness spending account can make it easier for your remote employees to access things like fitness classes and recreational sports teams, by reducing the cost and encouraging a culture of physical well-being across the organization. Apart from providing your team with the means to focus on their wellbeing, you can create a positive brand image. By implementing a healthcare coverage plan you can stand out from other remote companies and attract top remote talent.
- Learning and Development Opportunities for Your Remote Team
In an increasingly digital world, professional development has never been more important to employees. In fact, the lack of professional development is one of the biggest reasons employees quit their jobs. By providing your remote workforce with the tools to upskill, learn new technologies, and grow their knowledge base, you will show your employees that you are invested in their growth - and that you want to grow with them.
Here are a few ways you can promote professional development among your remote workforce:
- Subsidizing or covering the costs of in-person or virtual classes
- Providing access to online courses or e-learning platforms
- Allowing your employees to attend industry-specific conferences
- Providing flex time to allow your employees to work toward their professional development during regular business hours
By offering your remote workforce the opportunity to refine their skills and learn something new, you can not only attract a diverse pool of talented individuals from the industry but also reassure your current employees that you are there to grow the company and no one will get left behind.
By training your employees, you are increasing their morale, and reducing the likelihood of a turnover. This opportunity to grow creates a positive work culture where all members of the team can improve their skills, collaborate and present innovative ideas for the betterment of the company.
From workshops and training to mentoring programs and access to resources, you can foster a work environment that promotes and respects upskilling and even reskilling. This provides an opportunity for those remote employees who want to acquire a new skill or advance their career.
How Can Borderless Help?
Creating an employee benefits package for your remote team can be overwhelming, however with Borderless by your side you can make the process a bit more smoother.
Whether you are looking to grow your remote team or ensure you stay compliant with local employment laws, Borderless is your all-in-one solution.
On-board, manage and pay your international team and stay compliant with local labour laws for 170+ countries worldwide when you partner up with this EOR.
Book a demo with us today and find out how we can assist!
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