Imagine the following scenario: You run a small company of about 15 people based in the Midwestern United States. The COVID-19 pandemic caused you and your team to reevaluate your priorities after you learned that you didn’t need that office, the water cooler and commute times. You were all able to get your jobs done effectively using video conferencing, telephone calls and Slack channels.
Fewer people called out sick. No one spread a cold throughout the office. People say they were happier because they are able to have a better work-life balance. They seemed more productive, too.
Some employees even said they want to go abroad because they’ve always dreamed of doing so. The good news is that this is possible, now more than ever.
The Sentiment of the Workforce Today
Workers want more flexibility. It’s so apparent that even a vast majority of them say they’re willing to quit their job and look for one that offers it, a fact that includes the ability to work remotely full-time while abroad. Some may even take a pay cut for that.
In 2021, there is a labor shortage in the U.S. Workers have more say and sway than in years past. In the pre-pandemic era, the common practice was workers made more if they lived in expensive metro areas. Now, according to major media reports, workers are demanding equal pay for equal output, no matter the ZIP code (or country) they live in.
Benefits of a Remote Workforce
Why a company should have a remote workforce is now well-studied and well-documented. At Global RCG, almost all of our workforce works remote, and we promote “in-days” where we work from the same office during a week (those who still prefer to work from home are free to do so). A recent study from Global Workplace Analytics estimated that a company can save $11,000 for every part-time remote employee.
There are also a variety of other savings, from office space rent to all the associated costs with that (electricity, internet, air conditioning and even the water cooler).
Furthermore, various companies are finding that they experience reduced turnover and absenteeism. Unscheduled absences can cost employees as much as $3,600 per employee. Remote work gives less reason for that.
There are even reports of increased productivity, probably because employees don’t have to endure stressful commutes or inclement weather. One 2017 study even found an 8% decreased payroll cost when people accepting less money to work from home, though this may less true in 2021.
Can Employees Move Abroad and Continue their U.S.-based Employment?
The answer is yes. Yes, they can. And, as we are seeing increasingly every month, yes, they will.
With Corporate Nomads, we make the possibility a reality. We make it fun for employees and productive for employers, particularly as it relates to handling foreign residency, healthcare matters and other concerns.
Employers and their workers can enjoy a new reality, enjoying all the expat adventures that await them.