Working remotely is increasingly becoming desirable for many companies now more than ever before. Some describe it as the ‘remote work revolution’.
This year, more companies around the world are embracing remote work as a better option in times of crisis. Owl Labs reports that 56% of companies around the world allow remote work.
Despite the growing interest in remote work, only a handful of companies operate fully remote. Instead, a higher percentage of companies allow their employees to work remotely a few times in the week, while other companies have dedicated remote teams.
To understand how they operate, it is important to know that remote companies – also dubbed virtual companies or teleworks – have their employees distributed around the world. These companies have ‘no physical offices’ as such; they manage employees and projects virtually. As described by Glassdoor, in remote work, the location of an employee is irrelevant – instead, their skills, experience and knowledge are what count.
What you need to do
Like any business, starting a remote company isn’t always an easy thing to do. While some think running a remote company is a way to cut down on operating cost, others view it as “an investment to find the best talents for your company”. For a company like American Express, managing their remote department, World Service, for almost a decade has allowed them to reach prospective employees who live far and cannot commute to their office.
Similarly, some start-ups also swear by how remote work has improved the way they work. Planio, a Dev start-up company, shares its story of how working remotely has been an absolute banger for the company’s growth.
On the other hand, there are companies which have failed in their attempt to work remotely. StatusPage.io – in its blog post – shares why it failed as a remote start-up and had to transition to an office-based company.
Contrary to what some believe, remote work is not all glorious and idealistic. It can be a daunting journey. For whatever reasons you start a remote company, it is important to find ways of sustaining your remote business. At QodeHub, though, we are still at the stage of experimenting with remote work as a start-up. We have read widely and studied how some successful remote start-ups made it over the years: and we are here to share with you.
- Invest in the Right Team
The reliability and efficiency of remote workers have been questioned time and time again. One of the top qualities that remote companies look out for in their talents is entrepreneurial skills. Working remotely provides autonomy and independence to employees. This means it takes a self-driven employee to achieve results in your remote company. In its article ‘5 Things for Finding and Hiring Awesome Remote Workers’, Business.com details the process it has used over the years in recruiting remote staff.
- Leverage Technology
Almost all of our previous articles on remote work have emphasized the importance of communication in remote teams. Having distributed teams can affect how employees access information. To break this barrier, most remote companies use communication tools that centralise communication in one place and can easily be tracked by all team-members. This is very important, especially for teams that have employees in different time-zones.
Again, the absence of face-to-face interactions in remote teams can undermine effective team communications. Using video communication tools allows companies to hold virtual team meetings. Groove has compiled a list of essential tools that can enhance internal communications for remote companies. To learn our current favorite communication tools at QodeHub, we have them outlined in our previous article.
Building a successful remote company requires creating avenues for easy collaborations among team-members. Most remote companies have succeeded in optimising employee productivity with apps and tools. Using digital tools enables easy collaborations among remote team-mates when fostering a remote workforce. For instance, applications that allow real-time collaborations such as Google Docs and Google Sheets can be very useful. There are also project management tools such as Basecamp, Asana and Trello that are used to expedite collaborations.
- Build a Strong Remote Culture
Deliberately building a strong culture across space is very important to sustain remote companies. Companies have seen the need to organise occasional retreats for employees to add some fun, boost the morale of employees while creating avenues for bonding. Companies such as Hotjar, a fully remote company, believes that “nothing can replace real-life human interactions to build rapport”; therefore, twice every year, they drop technology and get together to promote good relationships among employees.
With a good plan, digital tools, employing the right people and building a strong culture your remote business can flourish. The benefits of running a remote company are enormous. Here are a few:
Pros of Running a Remote Company
Running or starting a remote company certainly has some advantages, though it is not the perfect route. Big brands have tried it, start-ups have been successful with it – and it is possible for your business, too. If you are at a crossroads of your decision-making process, here are some perks you can enjoy as a remote company.
- Reduce Overhead Expenses
Office spaces and utility bills are not cheap. Furniture is equally expensive, if not more. It’s possible to run remotely on a minimal budget as compared to having an office space. As a remote company, you can invest this money into acquiring tools that will enhance the performance of employees and increase productivity.
- Reduce the Hassle in Hiring Talent
Remote companies are borderless. As there’s no limit to reaching potential employees, one of the advantages of running a remote company is the ability to hire talent from anywhere in the world. However, hiring the right remote workers can sometimes be challenging.
Remote workers are not restricted to the four corners of a building. Allowing people the opportunity to work from anywhere they like and not have to commute can uplift workers’ moods and make them happy at work. A happy and sound employee can mean more productivity for your company.
On the flip-side of the coin, remote work can be challenging.
Cons of Running a Remote Company
- Communication can get difficult: It can be hard to communicate effectively in remote environments. Messages can get misinterpreted and work can delay due to delayed feedback. One of the features of remote companies is that they leverage digital tools for communication and collaborations. However, as with technology, there are days when some tools or applications will fail. Having a communication plan that addresses what employees should do on days like those is important.
- 2. Difficult to Maintain a Strong Culture: It can be easy for remote companies to overlook the importance of employees having a sense of belonging. Because remote companies are borderless, there’s a high chance of having a diversified team. Not only does this pose a cultural barrier among employees, it can also cause team-members to feel disconnected.
With the positivity surrounding the current state of remote work around the world, the future of remote work looks bright. Transitioning to or building a remote team from scratch can be discouraging. However, with the right technology, strong team culture and right employees, the process can be impeccable.
The writer is a Content Writer, QodeHub