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A Complete Guide to Remote Work for Businesses and Employees

7 mins
Fact Checked
by May Woods
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In traditional companies and corporations, there’s a trend in 2024 of bringing employees back to offices. Some present ultimatums, while others entice with office breakfasts, gyms, and other perks. On the flip side, in IT and web3, there are still many fully remote positions that are in demand. Many professionals in these fields won’t even consider a job that requires office work.

On popular job boards, there’s a specific “Remote” filter. Yet, upon closer inspection of the listings, you’ll notice that companies have various interpretations of remote work — from the option to work outside the office a couple of days a week to several weeks a year. It seems companies recognize the popularity and importance of remote work for employees but, for various reasons, can’t or don’t want to offer full remote options. To understand the reasons, this remote work guide considers the arguments from both sides: that of businesses and employees.

Why is remote work good for businesses?

1. Extended talent pool: Companies are no longer limited to one city or country when searching for talent. By seeking worldwide, they can select the most professional and suitable specialists. This leads to quicker position filling and, consequently, lower costs and faster business benefits.

2. Savings on office expenses: Companies can reduce office space, furniture, and stationery costs. For many traditional companies, these are significant budget items.

3. Increased productivity: If the job can be done remotely, employees might be more productive in a home environment, contributing to more effective work. A 2022 Gallup study showed that remote work reduces burnout and the desire to quit, enhancing engagement and naturally boosting productivity.

4. Greater flexibility in personnel management: The key is to devise a task-setting system and criteria for the success of work results. This way, everyone understands what needs to be done, when, and, most importantly, what quality satisfies both parties.

5. Reduced communication time: Digital tools and efficient online communication save time previously spent on office meetings.

“I managed to organize many online and offline events and celebrations. At their core, they share the same objective: fostering engagement and nurturing a sense of community and loyalty within the company.  Each event requires careful consideration of topic, concept, date, venue, host, activities, and entertainment. 

However, in the online event, the venue will be the online meeting, and the format of activities should be online-friendly. It is easier, as you don’t need to bother with high-priced invitations, food, and drinks and control the venue afterward. On the other hand, it is harder as you can’t feel the audience, there can be some technical errors, it is hard to connect all the time zones for international teams, and the activities that you can do online are limited.

Arina Drobysheva: HR business partner at BeInCrypto
remote work guide

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Drawbacks of remote work for businesses

1. Limited control over the work process: The belief that employees need to be constantly monitored in the office is a misconception. People get distracted in the office, too, with coffee breaks, smoke breaks, and chats with colleagues. Often, working from home increases motivation to concentrate and finish tasks quickly, as there’s the immediate reward of focusing on hobbies, family, or friends afterward.

2. Management challenges: Not all managers have the experience to organize a task-setting system in a remote format. Another crucial management aspect is personal contact between the manager and the employee. Face-to-face interaction makes it easier to notice nuances in a person’s mood. Achieving a similar level of connection between colleagues in a remote format requires more experience and time.

3. Data security: Ensuring data safety and confidentiality is more challenging, requiring additional financial investments and the involvement of highly skilled specialists.

4. Reduced team spirit:  Working alone with a computer can make one forget they’re part of a team. This impacts overall cohesion and team results. Synergy and teamwork, which truly exist, contribute significantly to achieving substantial results. Some even argue that genuinely great achievements and complex projects are impossible in remote work.

5. Lack of office atmosphere: The office environment helps a person switch to work mode. You enter a space where you’re used to working – your brain adjusts almost automatically. Achieving this effect at home is more challenging.

Remote work is a double-edged sword, especially for fully distributed companies.
On the one hand, this allows me to expand the geography of talent search beyond geographic location. It provides access to a wide range of skills and unique talent from around the world, which can be critical in an innovative and fast-changing industry.

On the other hand, remote working requires an effort to maintain company culture, communication and employee engagement. In addition, ensuring data security and adhering to workflows in such a distributed environment becomes more challenging. So, while remote working offers new opportunities for growth and innovation, it also requires careful planning and a commitment to maintaining a strong organizational structure.

Alex Ramzhev: Talent acquisition specialist at BeInCrypto

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Pros of remote work for employees

According to Forbes Advisor statistics, a huge 98% of workers expressed the desire to work remotely, at least part of the time. In reality, Statista figures show that in 2023, around 28% of the global workforce worked primarily from home.

Percentages of global workforce working primarily from home: Statista
Remote work guide — percentages of the global workforce working primarily from home: Statista

Here are some of the reasons remote work is becoming such a popular requirement.

1. Wide choice of residence: Employees can choose their work location based on personal preferences, potentially increasing life satisfaction. They may opt for a country where their salary ensures a higher and more comfortable standard of living.

2. Cost savings: Eliminating the need for commutes allows employees to save resources, such as fuel or transit costs. In some cases, expenses for clothing, footwear, and cosmetics are also reduced.

3. Improved work-life balance: Integrating work tasks into daily life and maintaining control over the balance between work and leisure. Working remotely provides the flexibility for a short post-lunch nap or other personal activities.

4. More personal time: Reduced time spent on office formalities and communication can translate to more free time.

Drawbacks of remote work for employees

1. Difficulty separating work and personal life, overworking, burnout: The risk of work encroaching on personal time increases due to the blurred boundary between work and personal spaces. Some individuals struggle with self-organization, feeling guilty if not physically present in the office or if attending to personal matters during the day, leading to overcompensation by working longer hours.

2. Reduced social activity: Leaving the office can result in decreased communication and social connections with colleagues, impacting the work atmosphere and the sense of belonging to a team.

3. Time management challenges: Some individuals find self-planning challenging, leading to a loss of productivity. Distractions at home, such as family, pets, favorite books, or games, can present challenges. Resisting these distractions and self-organization can be a significant challenge.

4. Limited access to resources: Certain office resources and infrastructure may be unavailable during remote work. Merchandise, advanced equipment, specialized work furniture, and stationery are often associated with office settings, and not everyone can recreate the same environment at home.

From job vacancies to career advice, the BE[IN]CRYPTO HR Team is here to guide your journey

Remote work guide: What is the future of work?

Despite companies actively desiring to bring employees back to offices, time cannot be reversed, and corporations will need to adapt their business processes to the new reality if they want to remain competitive in the talent market. While not applicable to all positions, compromises are inevitable. For web3 jobs especially, the future (and present) is remote first.

The web3 sphere leans towards remote and distributed teams, primarily in startups rather than large corporations. However, as they grow, some startups can offer a larger company’s stability and reliability while maintaining remote work and flexibility. For employees dreaming of remote work, it’s essential to consider the downsides. This format isn’t suitable for everyone and may turn out to be more of a punishment than a dream job for many.

Frequently asked questions

What is remote work?

Is web3 remote?

How can you get a web3 job?

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Arina Kogalenok
She is originally from Siberia and has more than 7 years of experience in HR. Arina believes that people are the foundation and the key to the success of any company. She is inspired by mountains and people who are in love with their work.