There are so many general benefits of remote work, that it is hard to address them all. You can also have a look at this post: ‘Why your company has to go remote‘. This post here is about the special situation at a startup or a small company.
What characterices startups and small companies? You have a small number of permanent employees, you will have limited financial resources and a very dynamic environment relating to the market and the potentially growth of the company.
It is clear, that the best talent is spread over the entire planet. If you try to attract them as onsite employees to your small company you will fail, because they simply will not move into insecurity. That is the reason, why potential founders moved to Silicon Valley or other startup hubs before. With letting your staff work remotely, only your work and your team counts while hiring and not the location!
If you have spread your employees over different markets, you have the valuable possibility to get important information for your product management, i.e. if your product is likely to work in that market or not.
We said before, that small companies and startups have tiny budgets. How to save that liquidity – which is essential for your small company – with remote work:
We all know that the worldwide average salaries for your employees are not as high as in the few big startup hubs around the globe. Sound like ‘wage dumping’, but that is not a must. You can pay your employees according to their work and enable them a high living standard wherever they are located and be under the San Francisco wage anyway.
The other cost impact is the saving of offices, furniture, IT infrastructure, energy, janitor service and cleaning personnel. To rent conference rooms for your bi-annual project meetings is definetly the cheaper alternative. It comes with the great idea to change location with every meeting to ‘visit’ your employees at their locations with the entire team.
With a small number of people, you will experience that their level of efficiency will be directly visible at the companies results. You will boost the efficiency by letting your employees work remote, because ‘work doesn’t happen at work’ like lots of authors are explaining (i.e. Remote by Jason Fried and David Heinemeier Hansson). The key points are less useless meetings, less distraction of crowded offices and collegues who work like ‘ask a collegue is better than think for myself’. Probably you know what I am talking of.
You should let your workforce not only work where they want, but also when they want, because only they know where and when they are most productive. For sure there is some overlap time needed for video calls, but the rest of the time should remain flexible.
Having workers in different time zones is first of all an obstacle. But imagine around the clock coding-testing-coding or overnight bug fixing for happy clients or even a 24/7 help desk with just a handful employees. That is a really big boost for the customer service.
If you work remotely just from the beginning, you are avoiding problems with turning your existing company to a remote one. That includes normally discussions about processes, tools, collaboration with and behaviour of single remote workers. See more in the post ‘How to start the transition to a remote company’.
Remote work has lots of advantages, especially for startups and small companies. What are your experiences? Let us know in the comment section.