Cost-saving business hack: remote teams

1 April, 2019
3 min

Anyone can do anything from anywhere

remote worker

While most reviews from teleworking advocates claim increased productivity, flexibility and higher satisfaction levels as advantages, many forget to mention the elephant in the room: cost-saving.

Teleworking has started out as a “great option” for job-seekers in startups. With the rapidly growing teleworking sector,  remote work is turning from a treat to an expectation.

Technology allowing all kinds of remote work has been there for a while. It happened rather recently though, that companies started to move towards establishing distant work schedules.

 Ways to cut cost by implementing remote team strategy

Let’s take a look at the obvious basics that can save money for your company. Getting a team that works away from your head office will come down to:

  • lower business operating costs.

Hiring a teleworker means no need for office space, no need to provide equipment (64% of workers already use their own), reduced healthcare costs(out of the office employees rarely apply for work-related injury reimbursements);

  • improved productivity\higher KPI.

70% of office workers in the US claim they notice a 15% decrease in productivity due to no ability to concentrate). As much as contemporary candidates favor “open office” concept, bonding and fruitful collaboration that come along; noisy phone calls, distracting small talk and efficiency drop, that follow get annoying. Career-minded teleworkers 2019 tend to want to keep to their own quiet and get work done;

remote work

  • shorter, more efficient meetings.

Thanks to highly-technological video conferencing platforms like Proficonf you can hold regular short meetings on short notice;

  • less sick leaves.

The staggering 52% of remote employees according to a CoSo Cloud survey are less likely to call in sick if working from home;

  • reasonable salaries.

Remote workers are generally easier, quicker to hire and more affordable for an employer. Salaries vary regionally. You can hunt a top industry specialist and still offer a reasonable payment;

  • ability to tap into talents anywhere in the world.

Take advantage of the power to hire the most suitable candidates. This will also reduce stress levels for your recruitment team;

  • considerably reduced travel expenses.

Even though trips from home to work are generally taken at private cost, corporate travel can round up to a hefty sum. This is especially relevant for top-managers and companies having several locations in different parts of the city/country.

Practical challenges of remote management are not so rosy

Even with the telework benefits being obvious as ever, some companies find it hard to implement remote team management in real life.

remote work challenges

In theory, virtual teams grant employers the chance to build a global dream-team, while maintaining a proper life-work balance of their own.

You should be prepared for possible spending spikes in three key areas of your business:

  • communication technology (a number of memberships to be bought). Coworkers have to have a collaborative infrastructure to maintain the healthy work process;
  • upgrade your HR skills (looking for a remote overseas talent demands resourcefulness and skill).

The future of work is remote

Let’s plan it well right now:

  • by hiring the right people. Interviews are a great way to learn if the candidate really a nice fit for the position;
  • encouraging collaboration and teambuilding. Corporate outings are perfect for bringing people together, no matter their age or position;
  • establish a communication culture. Plan regular call-ins for updates with your team, keep them nice and short;
  • remind your coworkers of the mission and goal within a current project;
  • finally: gauge progress. There is no better thing that expectations met.

If you do not yet have a remote team worker, chances are you very shortly will. Virtual teams live on video meetings, they build their workflow around it, they administer sales one-on-ones, they catch up on progress, provide reports, do everything through video conferencing. As much as this technology captures the market, how accessible it gets and how easy it is to use – it’s crucial that every savvy marketer, CEO and a top manager owns the prowess.

Here, we’ve discussed why video conferencing is beneficial for many businesses, why video conferencing is a popular option for businessmen trying to cut cost and save money every way they can. Therefore, this is all that it’s about. Saving money.

Tatiana Romanova
Content Architect at Proficonf