In today’s blog we are going to discuss why employers should consider remote work for their employees and how to begin to establish employee hour tracking. Goodhire, a background check provider in CA, conducted a survey that shows 68% of U.S. employees prefer to work from home1. Read on to find out how your company can more easily track employee hours for remote workers!
First, let’s discuss why offering remote work is important. The U.S. has seen millions of workers quit their jobs by the millions in what is being called The Great Resignation. As of December 2021, there are 11 million job openings. The recruiter.com Recruiter Index tells us that only 25% of job candidates pegged compensation as the top priority in their job searches. In fact, the survey disclosed that 25% of people reported they would take less of a salary to have remote work1.
So what are some reasons that an employer should consider remote work? Here are just 5 reasons why your company should consider offering hybrid or full-remote opportunities:
- Reduce Overheads Costs (such as office space)
The average cost to rent an office by square foot in the U.S. is between $8-$23, but can be even higher in the country’s largest cities3. Commercial spaces often require yearly or multi-year leases as well, adding to less flexibility for businesses.
- Expand Your Talent Pool (consider skilled workers that are not in your office’s home city)
Businesses now have access to wider pool of talent – sometimes globally. Although this can make the hiring process longer as it opens the doors for more applicants, companies can shift their talent planning strategy, as the remote work trend is popular for employees of all kinds4.
- Increase production (yes – increase)
Although each remote position, in each company, in each industry will vary considerably, researchers from the Mexico Autonomous Institute of Technology and the University of Chicago Booth School of Business found that workers are more productive in a remote setting5. The key may be structuring the job’s roles, responsibilities, and communication in the right way to ensure success.
- Boost Employee Satisfaction
McKinsey & Co. conducted a survey that found 62% of workers wanted to be on-site prior to the pandemic. However, post-pandemic, the same survey found that only 37% of workers want to work on site, the rest preferring a hybrid or full-remote work arrangement6. The flexibility of working from home is likely to be a long-term trend for workers in all industry.
- Less Commute Travel
The average one-way commute time in the U.S. is 27.6 minutes, an all-time high, according to the census bureau7. Also, as of the date of writing (12.19.21), the average gas price in the U.S. for regular unleaded is $3.307/gallon (CA $4.667 is the high; TX $2.901 is the low)8. Although employers typically think of the time workers are on the clock, an hour per day (or longer) adds up; giving that time back to employees is significant, and doesn’t eat into work hours.
If you’ve decided remote work is something you want to offer employees, or, already do but want to make the hour tracking easier for your company, iAS has solutions. The following are our two best time tracking systems that employees can use from home. Of course, there are many other factors to consider when offering remote work as an option, but when it comes to payroll, iAS has you covered!
Web-based timeclocks are a simple and effective way to have employees log hours from anywhere they can access the internet. Additionally, features such as changing cost centers, viewing/approving hours, and requesting time-off can also be done. This timeclock mechanism works well for any employee already using the internet on their computer during remote work.
Mobile App Timeclocks
A mobile app timeclock, compatible with applications for iOS and Android are flexible options for employees needing to clock-in and clock-out outside the office. The same viewing/approving hours and requesting time-off features can also be accessed. For jobs where physical location matters, a GPS stamp allows employers to ensure employees are at the needed location. This timeclock mechanism works well for employees on-the-go, working special events, or any arrangement outside the office.
Both options (click HERE for more details) integrate seamlessly with iAS’s payroll software to transfer timeclock data to our systems for manager approval and then paycheck processing. We can help establish a work from home setup for your business – which is sure to be one of the biggest employment trends in 2022. What are your biggest challenges in offering remote work – and how can we help? Contact Us
- 68% of U.S. Employees Prefer Remote Work Over In-Person Work – ValuePenguin
- com CEO on the great resignation and hiring trends (yahoo.com)
- How Much Does it Cost to Rent Office Space? | PriceItHere.com
- Taking Advantage of a Broader Talent Pool (shrm.org)
- Are We Really More Productive Working from Home? | Chicago Booth Review
- What employees are saying about the future of remote work | McKinsey
- Census Bureau Estimates Show Average One-Way Travel Time to Work Rises
- AAA Gas Prices