A new study shows the financial benefits of flexible remote work arrangements are taking center stage, challenging even the most ardent opponents of remote work.
Tech startup Scoop, in collaboration with the Boston Consulting Group, found a substantial link between flexible remote work policies and a remarkable 16% surge in revenue growth over the past three years.
This revelation aligns with the global shift toward flexible work, echoing the success of Spain's four-day workweek trial.
Scoop's report underscores that observed revenue growth isn't solely attributed to remote work policies but reflects a broader trend.
It suggests that a business culture fostering openness, autonomy and responsiveness to employee needs naturally supports growth.
Even structured hybrid companies, requiring specific office time, showed a 13% higher revenue growth compared to full-time in-office counterparts, challenging common misconceptions about remote work hindering interpersonal connections.
Scoop CEO Rob Sadow said he was surprised by the results of the study, reinforcing the strong case for flexible working.
Contrary to some concerns, the data suggests that not only is remote work not a hindrance, but it might lead to outperformance.
Building trust remotely relies on two crucial cornerstones:
- Effective communication
For a remote business to achieve success, all team members need to hit the ground running with well-defined goals and expectations, according to Doist CMO Brenna Loury.
Speaking to DesignRush, Brenna explained that the other way communication breeds trust is via feedback. "It's often a muscle that atrophies if not flexed, so it’s essential to integrate feedback into your company’s regular routines or workflows," she concluded.