Globally, 70% of people work remotely at least once a week. Remote working is a recent phenomenon but has been widely, increasingly and rapidly accepted by the world. Here are 10 ways how building a remote startup can be the perfect route to success.
1. Helps expand the talent pool
The one factor most critical to a startup’s success is the team. Hiring remotely means that one can extract the best out of the global talent pool rather than limiting oneself to geographical boundaries and compromising on talent.
2. Results in better productivity
In a remote team, the members can work out of their preferred locations in their preferred timings. Thus, each member of the team can perform to his/her complete potential as the work conditions are decided by each individual without watertight rules and restrictions that have hitherto plagued corporates.
3. Brings together happy workers
The stress level of a team directly translates into its performance. A start-up with a remote team can leverage the fact that each worker is satisfied with his/her working conditions and thus feels positive and is inspired about the work.
4. Longer and stronger associations
When the team is connected by a common aim yet offers flexibility to each member, then there are lesser conflicts and thus longer and stronger associations. In a remote startup, there are less chances of attrition as compared to a traditional team working together under restricted conditions and timings.
5. Remote workers exhibit better understanding
Remote workers, though connected only through video conferencing and other modes of technology, have more fulfilling and efficient connection as compared to workers traditionally working together. This is because, remote teams make an extra effort to share each and every detail and also, since the workers come from completely different backgrounds, the exchanges are more enhancing and mutually beneficial.
6. Millenials are more inclined towards remote working
Startups thrive on millenials. The millennial generation is the one that has brought the wave of startups and they clearly are more inclined towards remote working. According to Harvard Business Review, 68 per cent of millennial job seekers said an option to work remotely would greatly increase their interest in specific employers. So if a startup wants to hire the best of millennial talent, then going remote is the way.
7. Promotes work life balance
The startup culture has not just revolutionised economies but the way work is handled by professionals. Startups have always been at the helm of innovation and thus a remote startup team can be the best way to advocate work life balance. When there are flexible interactions and minimum travel required, then the team members can use time efficiently, thus enjoy work life balance.
8. Nurtures a work culture
It is a myth that teams tend to display lack of discipline with remote work. In fact, remote work teaches better discipline to the teams and also fosters a culture of collaboration and trust among the team.
9. Welcomes diversity
10. Lowers the cost structure
A startup needs diversity of thoughts, ideas and experiences and a remote startup can bring together just that which can, in turn, help the business as well. When innovative and strategic minds from around the world come
together, their experiences and ideas can be moulded together to work in a holistic and all-encompassing way.
Last but not the least. Imagine a fully functional office with electricity bills, water supply bills, a host of other expenses and salaries with travel allowances, house rent allowances etc. Well, when technology has shrunk the world, this kind of scenario can be avoided by startups. Today, teams from across the globe are working out of their respective homes or co-working spaces
and unleashing the best of productivity in the minimum possible cost.
Eccosphere is an immersive co-working space offering a nurturing and positive environment to the teams. With small innovative steps such as green arenas, medication and recreation centres etc, Eccosphere aims at offering holistic experience to the teams for not just professional excellence but complete rejuvenation, personal gratification and the perfect work-life balance. For more information, click here.