Broadening your company’s talent pool by formalizing your remote work strategy

Cultivating talent pool through remote work hiring

Remote work has gone beyond a trend and is now a business strategy that many employers are exploring because of the numerous doors of opportunity that it opens.

At first glance, remote work may be primarily perceived as more beneficial to employees. They can gain flexibility with their time and schedules, as well as save on the many expenses that come along with working in an office – commute, lunches, after-office gatherings, and even money spent for office clothes. 

Add to that the many non-monetary advantages for workers – more time with family, the chance to travel more freely, improved physical and mental health, and the chance to work for a company regardless of geographical location. 

A lot of workers, especially millennials, tend to value the non-monetary rewards of working from home. In that regard, many employees may be okay with earning a little less base pay, rather than getting a higher salary for an in-office job. They would rather be flexible and avoid the hustle and bustle of daily work commute and office life in general.

Consider as well, the fallout from the COVID-19 pandemic that has forced people to distance themselves from each other. Remote work is a practical choice that employers are increasingly recognizing as a workplace strategy that allows employees to still contribute greatly while providing ample benefits to both the organization and the individual.

Many of the aforementioned benefits are actually great advantages for businesses, too. Beyond significant real estate savings, the chance to hire based on talent and skill becomes more important yet accessible with geographic hiring boundaries erased.  

With remote work, you open the doors to a talent pool outside of your business location and in some cases, reduce the need to train new hires for specific skills, as there is a greater chance to recruit someone already proficient in the skill set required for that job role. 

Benefits of an expanded remote talent pool for your Business

Lower cost, higher profitability 

Increased profitability is one of the most attractive remote work benefits for a business. Being able to drastically reduce operational costs by hiring remote workers is possible. With the right remote work pay strategy, businesses can hire top talent while achieving significant cost reductions.

Businesses can operate in smaller office spaces when increasing the number of employees regularly assigned to work from home–a big win in terms of cost reduction for the company. Square footage can be freed up to either better accommodate on-site employees’ work styles, or offices can be eliminated entirely for those seeking to become a remote-first organization.

Better talent pool, higher productivity 

Formalizing remote work allows businesses to acquire talent that once was inaccessible. It increases options so widely, that internal recruiters will most easily encounter the right person to hire in terms of skill sets. With it easier to identify candidates with the right skill set, employers can shift focus to attitude, mindset, and cultural fit of potential new hires, ultimately, enabling your company to grow with the kind of skilled team players that focus on quality and productivity. 

Diverse talents, greater impact 

With an increased focus lately on diversity, equity, and inclusion, companies can hone in on hiring employees of different backgrounds and personal experiences. 

With remote work, you open your doors to talented and skilled people who could not work in your office for one reason or another. This includes caregivers who cannot work in an office due to familial obligations, as well as individuals who can’t travel to or work in an office setup due to physical limitations or health conditions. Limiting factors that have nothing to do with a person’s capacity to perform well are now removed from the equation.

Inclusion efforts can be greatly aided by thoughtful remote work hiring–a definite advantage in terms of creating a company image that attracts quality employees.

More talent options, higher employee retention

with remote work becoming a preferred working lifestyle for more and more people, those who are given the latitude to work remotely are more likely to stay rooted in the company. 

In many cases, these employees are farther removed from office politics and gossip, a factor that often can drive turnover. In a remote setup, employees can create an environment that allows them to work in a manner they prefer, mitigating, in part, the likelihood of a desire to make a change. 

So long as your organization’s work from home policies are aligned with employees’ needs, and compensation is reasonable, many of the usual reasons employees quit won’t even bubble to the surface in a remote scenario. Of course, higher retention is beneficial for a company, as it lessens the need to train new hires often, and it promotes a culture of loyalty, while people continue to learn skills and help the business thrive.

Offer remote work, stay ahead of the game 

The COVID-19 pandemic has ushered tons of employers into the remote work world. The sooner you can formalize your remote work strategy the sooner you can gain a competitive advantage over other businesses, both in your town and in your industry. 

While some employers dabble in remote work, others choose to holistically assess their remote work strategy and approach to hiring work from home employees.

Start collecting data and feedback from your employees who have already been working at home, and check the pulse of your people. Do they want to stay remote? Do they want to go back to the office? What are we gaining from operating as a remote team? There are many items for your company to discuss and plan when formalizing your remote work strategy, much of which we’ve included on this section of our website.

As you look to differentiate yourself as an employer of choice, an augmented talent pool gives you a marked competitive edge over those that fail to acknowledge the benefits or refuse to adapt to remote work. 

Challenges of hiring remote workers

With greater opportunity through remote work hiring also comes challenges that companies, especially those unfamiliar with the setup, may ultimately encounter.

One big challenge is determining which among the job roles in your organization can work remotely, and which will need to stay in an office. When planning this out, consider the tasks and roles of each employee and department. The relevance of this process is dependent on the type of business, and therefore requires careful planning and consideration. 

For instance, some businesses may be comfortable with accounting and sales working remotely, but for other positions that require special tools or technology that may only be located on-site, this would not be possible. With SCG’s years of experience in workplace observation and insight gathering, these factors can be explored and studied to help determine the best course of action for your business and your employees.

Another challenge is considering how your company can adapt to remote work hiring. Remote onboarding requires an entirely new approach compared to how typical hiring works, as additional factors need to be calculated into the hiring process.

Lastly, while it has been mentioned that there is greater success in hiring remote workers that can immediately fit the role you need (thanks to an expanded talent pool), there will still be cases when training and extra effort are required. 

This is especially true during instances when a worker is tasked with a role that requires knowledge and skills that may be “foreign” to them — knowing market trends in a different city or country or understanding a culture different from what they know, are just some examples. 

Thankfully, with the right training, and having the mindset that skills can be taught and learned, a remote worker can adapt and win over these challenges. By focusing more closely in the hiring process on personality, attitude, loyalty, and other positive traits, coupled with a determination to train them thoroughly, your remote workers will become valuable assets to your business, in as much as in-office employees are. 

Overall, these challenges can be tied to how much change will be needed to transition to a remote work environment. With whatever changes your company needs to undergo, SCG can assist you in managing change and shift into a new chapter of your business smoothly and successfully.

How SCG can help create steps and avoid challenges in a remote work environment

If you’re ready to embrace remote work, your company can bring on board some tremendously talented employees to work from home. SCG can help you understand all the changes that this transition brings, and work with you to develop the strategies to overcome challenges along the way. Fill out the form below to connect with us.