8 Benefits of a Remote Accountant
July 17th, 2020Even before the COVID-19 pandemic hit and resulted in many companies transitioning to telecommuting essentially overnight, working remotely had already become increasingly more common. Since 2010, the number of workers who perform their jobs remotely increased by 400%. Certain jobs lend themselves more effectively to remote work, and the role of an accountant is an ideal position to take remotely. Learn more about the benefits of a remote accountant:
1. Reduced Overhead Costs
The expenses of in-house employees can add up, from equipment to supplies to the space necessary to fit everyone into the office. Hiring a remote accountant reduces these overhead costs and saves your company money that could be better utilized elsewhere.
2. Access to More Candidates
Normally when you hire for an accountant position, you are limited to candidates who live or are willing to move to your office location. Opting to hire a remote accountant removes the geographical constraints and provides you access to more candidates, so you improve your chances of landing top talent.
3. Higher Productivity
The average office environment can be filled with distractions, from water cooler chatter to interruptions from colleagues in the midst of a focused work session. Having a remote accountant can result in higher productivity since they can concentrate.
4. Increased Job Satisfaction
The ability to work from home tends to translate into increased job satisfaction, as it provides employees flexibility and autonomy. A benefit to hiring a remote accountant is they are more likely to be engaged and thus, harder working since they are happy with their job and employer.
5. Higher Retention Rates
Turnover is costly and disruptive, but fortunately, hiring a remote accountant is likely to improve retention rates. It eliminates the need for employees to resign in the event of being dissatisfied with their commute or having to relocate.
6. Quicker Work Turnaround
If you hire remote accountants who are in a different time zone than you’re based in, it can result in a quicker work turnaround. You can submit a request late in your workday, and it’s likely to be ready and waiting for you when you start work the next day due to the time difference.
7. Accessibility to Data
Remote accountants will typically utilize cloud-based software and storage. This means that it will be simpler for you and other key stakeholders to have easier access to financial data and reports.
8. More Competitive for Talent Acquisition
Even if your firm doesn’t have a sky-high budget for compensation, you are likely to be able to land top accounting talent away from the competition if your position is remote. Many top performers will forgo a larger paycheck for the flexibility that working from home provides, leading you to attract candidates you may otherwise not be able to.
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