According to a Balboa Capital survey, eight in 10 small businesses are embracing remote work models. Additionally, business leaders whose companies have remote workers reported improved business outcomes, increased employee engagement and reduced overhead costs.
Balboa Capital surveyed business owners to find out how many companies switched to remote work models due to the COVID-19 pandemic, and to see how effective the results have been. The survey was sent to a sample of small business owners in a variety of industries during the first two weeks of July 2020.
“According to our latest survey, remote work is on the rise due to the COVID-19 pandemic, and it is benefitting small business owners nationwide,” Kevin Umeda, manager of sales planning and coordination at Balboa Capita, saidl. “Eighty-two percent of small businesses now have remote workforces, up from 51 percent in March 2020, and employers and employees are learning how to make this operational structure a success. For example, a majority of business owners said the shift to remote work has resulted in more employee productivity, happier workers and improved customer service. Moreover, companies are realizing the financial benefits of a remote workforce. Sixty-percent of business owners said it has dramatically reduced their cost savings, as office space, parking, utilities, perks and other expenses have been reduced or eliminated.”
Survey Takeaways
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