More and more employers are reconsidering their stance on remote work and if you’re in the crypto world, chances are you already have a full roster of remote workers with their feet firmly under the table.
After all, if employees can get the job done from home, why not let them? There are a few things to consider before making the jump to a fully remote workforce, though. And it’s understandable that a lot of employers opt for a more hybrid approach, so let's take a closer look at the pros and cons of hiring remote employees.
The pros of hiring remote employees
Let's look at the advantages of hiring a remote workforce:
1. Increased productivity
Several studies have shown that employees who work from home are more productive than their office-bound counterparts. This is likely due to the fact that they can design their own workspaces, set their own schedules, and eliminate distractions like water cooler chat and office politics.
2. Reduced overhead costs
When you don't have to pay for office space, utilities, or other associated costs, you can save your business a lot of money. In fact, Forbes estimates that businesses can save an average of $11,000 per year for each remote worker they employ.
3. Access to a global talent pool
One of the best things about hiring remote employees is that you're no longer limited to candidates who live in your city or town. With the whole world at your fingertips, you can find the absolute best person for the job regardless of where they live.
4. Happier employees
According to one Gallup study, employees who work remotely are happier and less likely to leave their jobs than those who don't. This is likely due to increased flexibility and improved work-life balance.
The cons of hiring remote employees
Of course, there are also a few drawbacks to hiring fully remote employees that are just as important to discuss. These include:
1. Less face-to-face interaction
One of the biggest challenges of working remotely is maintaining healthy communication and collaboration among team members. Since you can't just pop into someone's office for a quick chat, you have to be intentional about setting up regular video calls and check-ins. Otherwise, it's easy for team members to feel isolated from one another.
2. More distractions at home
When your employees work from home, they're surrounded by potential distractions like TVs, pets, kids, and household chores. While some people are better at tuning out distractions than others, it's still something you need to be aware of when managing a remote team.
3. Security risks
When sensitive company data is stored on employee laptops and devices, there's always the risk that it could fall into the wrong hands if those devices are lost or stolen. To mitigate this risk, make sure you have strict security protocols in place for how company data should be stored and accessed by remote workers.
4. Greater reliance on technology
Since remote workers rely heavily on technology to do their jobs (i.e., email, video conferencing, and project management tools), any technical problems can quickly become roadblocks to productivity. That's why it's important to have a solid IT infrastructure before switching to fully remote work. Of course, if you’re relying on freelancers within web3, this isn’t the company’s issue to worry about.
Overall, there are both pros and cons to hiring remote employees. While there are some challenges that come with managing a remote workforce, such as maintaining communication among team members, these challenges can be overcome with careful planning and intentional management.
Ultimately, whether or not hiring remote employees is right for your business will come down to what your specific needs and goals are. Most blockchain technology companies have realised that remote and hybrid work is the only way forward, but if you’re yet to decide that going fully remote is right for your business, just make sure you do your homework first so that you can set your team up for success.