8 benefits of hiring remote talent

Posted 06/09/20 Team Vaco

Each day, the benefits of hiring remote talent in a COVID-19 world become clearer. The workforce — and the way we work — is transforming before our eyes. As more and more businesses are embracing ways for safely reopening and navigating a new normal, they’re also discovering talent gaps that they can fill quickly by hiring remote talent. 

One of the biggest benefits of hiring remote talent? It’s helping businesses build the workforce they need. Right now. Hiring remote talent or remote interim talent can help your business increase productivity and meet critical deadlines. 

Increasing productivity

Global Workplace Analytics found that remote workers were 20-25% more productive than office-based employees and The Muse reports that remote workers felt an astonishing 77% more productive when they worked remotely. 

Let’s filter productivity through yet a different lens: actual days worked. Inc. reports that employees who work remotely work an average of 1.4 more days every month. That’s 16.8 more days every year! They also note that office-bound workers reported being idle (Hello, Insta and TikToc!) for about 37 minutes a day — excluding lunch and standard breaks — while remote workers reported only 27 minutes of unproductive time each day.

Improving diversity

An often unsung benefit of hiring remote talent is improving diversity, inclusion, and equity. So, we’re going to shout this one from the mountaintop: hiring remote talent is the easiest and most effective way to build geographic, socioeconomic, racial, and cultural diversity within your company. 

“Location as an element of diversity is not yet part of the conversation. It really needs to be,” writes Paul Estes in a recent Fast Company article

Utilizing remote talent  can strengthen your company and your corporate culture. It also empowers workers with disabilities, working parents, parents of special needs children, caretakers, and people with health conditions to compete professionally on the same level.

Finding the right skillset

Remember those heady days before the novel coronavirus disrupted how we work? Well, way back in November, many experts were reporting that a top priority for HR leaders in 2020 would be building critical skills and competencies for their organization. 

Fast-forward to June 2020 and when new roles, tasks, and previously unimagined responsibilities — like thermal scanning and contact tracing — are more than priorities. They’re critical to your ongoing operational success.

If you’re feeling ill-prepared for whatever the future has in store, you’re not alone. The Economist found that a whopping four-fifths of CEOs worry about skill shortages! Fortunately, hiring remote talent will give you the agility to find the employees with the skills you need to achieve your retooled objectives for 2020 and beyond.

Accessing a wider talent pool

Imagine that you could conduct an executive-level search for every position? Sounds too good to be true, doesn’t it? With remote hiring capabilities and the possibility of retaining remote talent for your critical roles, you’ll gain access to an Olympic-sized talent pool. 

When you commit to hiring remote workers, your global talent recruiter can expand their horizons and go knocking on the doors of top talent — regardless of the candidate’s location. Plus, remote work gives your employees a unique opportunity to network and connect with peers from all over the world.

Lowering business costs

Global Workplace Analytics estimates a typical employer can save an average of $11,000 per half-time telecommuter per year. They noted that the primary savings are the result of increased productivity, lower real estate costs, reduced absenteeism and turnover, and better disaster preparedness.

Reducing employee attrition

Speaking of reducing employee attrition, with an average cost-per-hire of $4,129 (Society for Human Resources Management), improving employee retention was important before the pandemic — it’s even more important now as all eyes are on the bottom line. 

If you want to find and retain top talent, whether interim or permanent, hiring remote talent is a great place to start.

Fostering agility

Hiring remote talent or remote interim workers can help your business maintain its agility and emerge from the shadows of 2020 stronger than ever. 

In this historic moment, more and more people — from newly minted graduates to seasoned veterans —  will be looking for work. At the same time, they’re factoring in the importance of work-life balance, flexibility, family priorities, and the health risks that may be associated with travel and the traditional work environment. 

Need some data to support your hiring decisions? Harvard Business School analyzed 4,700 companies across the last three recessions. They discovered that 9% came out in much better positions than they entered because of their “progressive” focus. Although some of these companies were forced to make some cuts, they were selective about it and, more importantly, they continued to make strategic hiring choices (Harvard Business Review). 

Ensuring continuity of operations

It’s easy to forget that business disruptions happen all the time. This may be the first time in more than a century that a global pandemic was at the root, but over the last decade alone, companies have been dealing with changing employee demands and a severe talent shortage. As a result, companies were already changing the way they work and hire. 

As hiring volumes and corporate needs fluctuate, hiring remote workers or relying on remote interim staffing solutions can strengthen your business continuity plan and help your team respond to any challenge that comes your way.

Interested in learning more about the benefits of hiring remote talent and how to safely reopen your business? We’d like to invite you to watch our return-to-work webinar on-demand. In this 45-minute session, we discuss strategies for bringing businesses and communities back stronger than ever.