Growing a business during or soon after this pandemic will be a huge gamble. Managing a whole organization with so many restrictions only complicates things. But just like any other business in the world, there is always scope for growth, even in awful times. Things get more stressful when you have to categorize the problems and growth patterns in a structured manner for your organization.
With employee restrictions, running an office could cost you a lot of time and resources with no profit overall. Many companies have turned towards the software industry to make things a little less apocalyptic than they seem. This made many organizations shift their operations online and adapt to remote working.
In recent research by Boston Consulting Group, between May and June 2020, with over 12,000 employees employed before and during the COVID pandemic hit in the US, Germany, and India; they concluded that surprisingly a large number of employees reported similar or higher productivity levels when working remotely during the pandemic.
People have been working from home for years. Moving multiple operations online has never been easier, thanks to rapidly evolving technologies. With the COVID-19 outbreak slowly coming to a halt, many businesses are very anxious to open their offices. But is that really a good idea?
The Effects of Remote Working on Business Growth
A lot of research has been done regarding the benefits of remote working and productivity. Over the past few months, businesses have gained a lot of revenue ever since businesses moved to an online platform.
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Research says that workplace flexibility improves employee engagement and overall productivity. Here are a few areas in which a company can excel by working remotely:
Employees are about 35-40% more productive than their coworkers when they operate from their homes. In research done on telemarketers, it was seen that remote workers made 13.5% more calls than employees working from the office. Working from home gives employees more job satisfaction and less stress.
Remote workers also claimed to have fewer distractions. They could spend more time on their work rather than getting ready to commute to the office every day. Working from home also gives workers a safer option to stay put during a crisis and still get the work done. This further reduces unwanted angst and increases employee engagement. It also heavily contributes to business growth in the new normal. 
2. Access to Employees
Employees usually have to travel a lot, resulting in them spending a major chunk of their day working at the office. This eventually gets exhausting which leads to sloppy work and inconsistency.
Managers can easily monitor and propagate tasks to employees and can screen and interview any new applicant via telecommunication. This allows businesses to grow despite travel restrictions and other complications applicants might face. Remote working has yet again solved another problem that could potentially hinder the growth of your business in the new normal. 
Remote working and telecommunication are one of the most cost-efficient methods for a business to function. Organizations do not have to pay rent for the office workplace, supplies, and other cafeteria requirements. One study stated that if a company allowed one of their employees to work from home, they would be saving nearly $9000-$11,000 a year, and the employee would be saving $5000-$7000.
In addition to that, remote working also helps companies save in the following ways:
- Reduced healthcare costs: Employees lead a healthier life when they operate from the comfort of their homes. They have at least 25% lower stress levels and are capable of making healthier dietary decisions. This only makes them lead a healthy lifestyle, thereby, reducing healthcare costs.
- Lowered travel costs: When most of your operations happen online, you would not have to spend extra cash on business and other travel options for your employees. Workers themselves save a ton of money by staying home.
- Better service: Soon after you implement work from home, you will notice a drastic increase in your sales and revenue due to better productivity and happier employees. A study found that there was also a significant decrease in complaints from customers. 
4. Reduced Attrition
One of the hindrances that hamper business growth is employee conflict and attrition. Employees tend to get affected by such situations. Remote working has contributed a lot to employee satisfaction, which eventually lowers attrition. This saves the cost of human resources, hiring, and training new employees.
Another case study found that nearly 46% of the companies that promoted remote work experienced reduced attrition, employee conflict, and unnecessary office drama. This also proves to be more effective for employee retention. In the long run, losing long term employees can be a major loss to the company and can cost the company anywhere between $10,000 and $30,000 each.
With higher productivity and good performance, employee engagement gets stronger. This reduces employee absenteeism by at least 41%. Moreover, you will easily be able to retain 54% of your employees as soon as remote working is implemented.
With happy and faithful employees, you can easily increase your overall profits by 21%, while simultaneously saving a lot of money in the process. Looking at the global situation right now and how companies everywhere have positively responded to work-from-home, this new trend is not vanishing anytime soon. 
WHAT THE FUTURE OF REMOTE WORK LOOKS LIKE?
In the near future, companies might entirely shift towards the remote work ethic that could give rise to the remote work revolution.
The overall benefits of remote working on productivity are pretty obvious and thus has had plenty of research done in this domain. All of which conclude that the benefits and business growth that you will experience is very much meaningful and measurable.
For lower overhead costs, increased employee retention, and positive environmental impact, companies that adapt to a remote work plan can expand their business in a much more healthy and cost-efficient way.
- Boston Consulting Group. What 12,000 Employees have to say about the Future of Remote Work. https://www.bcg.com/publications/2020/valuable-productivity-gains-covid-19