There are multiple reasons why remote work is so attractive for software engineers. Less stress, no need to waste time on lengthy commutes, and better work-life balance are just a few of them.
But what’s in it for the employers, besides employing happier developers?
We believe allowing software engineers to work from home has a direct impact on a company’s bottom line. Here are some of the business reasons to prove it:
1. Access to a larger pool of talented software engineers
The first—and probably the most important—benefit is access to a larger pool of software developers. You won’t be limited to only the local talent, and that generally helps to hire better developers more quickly.
2. Saving on office space
What is the total cost of a workspace in your office when factoring in the cost of space, supplies, and maintenance? What if you could postpone moving to a larger office if you allowed your software engineers to work from home? How much could you save if you eliminated the office altogether by becoming a fully remote company? Do the math, and you'll quickly see how much a remote environment could save on workspace-related expenses.
3. Saving on salaries
Developer salaries in San Francisco, New York, or London are very high. But it’s the cost of living that’s driving up the salaries and not necessarily the skills of software engineers living in these cities. Broadening your talent search to include remote workers can enable you to find skilled software developers living in places with a lower cost of living.
These savings could be quite significant, especially if you’re hiring in other countries. For example, software engineers in Eastern Europe often require half the salary of software developers with similar skills in New York or London.
4. Hiring flexibility
One of the not-so-obvious benefits is the opportunity to hire remote software developers as full-time contractors. In many countries with rigid employment laws (e.g. Germany), hiring remote contractors helps companies scale their engineering teams to meet their immediate needs without making long-term commitments.
5. Greater Productivity
A-players use freedom and autonomy to deliver their best results. The growing number of tech companies becoming fully remote is an indirect proof for this.
There are also studies confirming that remote employees are more productive. Here’s a good one: https://hbswk.hbs.edu/item/how-companies-benefit-when-employees-work-remotely
6. Higher retention rates
Remote software engineers tend to stick with the same companies longer. For starters, they don’t have to quit when they move to a different city. Happier employees are also less likely to look for new jobs.
7. Keeping up with the competition
Hundreds of companies reap the benefits of remote work. We keep track of those hiring remote software developers, adding new entries to this list every month.
You can filter this list by country, industry, or company size to see if any of your competitors are already there: https://remotemasters.dev/companies
The increasing popularity of remote work is largely enabled by advancements in technology: high-speed internet is wide-spread, and video conferencing has never been more reliable. But it’s the benefits for both employers and employees that are driving the adoption of remote work. This makes me believe that one day, offering an option to work remotely will be a standard benefit for software engineers.