Startups and small businesses typically depend on a workforce where everyone wears many hats. Entrepreneurs may find themselves trying to do everything from product creation and production to managing financial records. The good news is that research shows remote work arrangements support a more productive modern workplace.
As telecommuting has gained in popularity, particularly as businesses around the world revamped their work policies around COVID restrictions, working remotely has expanded dramatically. Research studies confirm that remote worker productivity improved by 10% to 13%.
Why Businesses Consider Off-site Workforce Development
One reason many entrepreneurs may leverage remote workers is that doing so allows them to use their creativity and innovative spirit to grow the business. Handing off bookkeeping and accounting tasks to an off-site partner reduces stress while ensuring the bank account is always in balance, workers and vendors get paid on time, and accurate records are available year after year.
Of course, there are other benefits for businesses. For example:
- Research shows that a well-qualified remote workforce is often more productive.
- Workers report they are more satisfied with their jobs, which leads to higher retention rates.
- Higher retention rates translate into lower talent recruiting and training costs.
- Accuracy improves when third-party agencies with state-of-the-art technology automate routine administrative tasks.
- Business leaders (and workers) experience less stress when they use their best skills and experience to focus on business activities within their wheelhouse.
- Companies save money typically lost to correcting errors or challenges associated with performing business activities outside their comfort zone. Think of a production worker who has to field customer service calls or an entrepreneur that prefers managing product design over record keeping.
How Does Remote Work Benefit Workers?
Hiring remote workers has many benefits for the staff – whether they are freelancers, in-house workers who spend part of their workweek working from a home office, or full-time employees with a WFH arrangement.
Those benefits include:
- No commute: As remote workers, team members save time and money associated with traveling to the office every day. Plus, by eliminating the morning specialty coffee and lunch at the deli, workers can save even more money – maybe even get a little healthier, if that's a personal goal.
- Flexible scheduling: The freedom to set your own schedule is life-changing. No more missed ball games or school plays. And, often, work can be aligned with your natural circadian rhythm, which increases productivity and job satisfaction.
- More time for personal self-care: Self-care is vital to avoid burnout. And, who couldn't use more time to relax, get a massage, or just read a book?
- Improved work-life balance: Balancing work and life in our busy, always-connected world takes a toll on relationships. With intentional scheduling, remote workers can finally get a work-life balance that works for them.
- Better collaboration efforts via telecommuting technology: Video teleconferences have been proven to enhance collaboration with colleagues and clients. For one thing, virtual meetings remove the ambiguity of written communication which lacks inflection and intonation elements. And, remote meetings eliminate geographical boundaries that complicate in-person scheduling.
How Does Hiring A Remote Accounting Workforce Benefit Employers?
To understand the benefits of partnering with an experienced off-site provider, consider how external accountants support business leaders.
- The off-site team is staffed with highly-trained workers trained in your industry – resulting in faster invoicing, reduced employee acquisition and retention expenses, and always accurate financial records.
- A remote bookkeeping team arrangement can be tailored to meet your needs. This means a surge in business sales won't create any backlog – lowering stress for on-site workers and improving cash flow.
- An on-demand workforce can be expanded or limited as the business grows, without compromising quality or requiring additional payroll spending.
Outsourced accounting providers relieve many pain points for business decision points, such as:
- Maintaining consistent internal controls
- Overburdening staff with out of bounds duties
- Distractions that impede product design and development
- Lack of knowledge necessary for completing multiple tasks
- Unreliable performance, reduced productivity, and skillset gaps within the in-house workforce
- Escalating overhead costs associated with salary and benefits packages
- Limited time for fundraising and client engagement
- High turnover rates
- Inconsistent customer service
- Compliance challenges
Does becoming a remote accounting professional sound like something you want to explore?
If the benefits of remote work sound appealing, a career working with an off-site accounting firm may be the perfect career shift. As you can see, there are numerous benefits for the client and the worker.
AccountingDepartment.com is hiring bookkeeping and accounting professionals from across the country. Let us help you explore opportunities. Visit our Careers Page to learn more about our offerings and our current openings to join our Inc. Best Workplaces awarded company.