Pandemics, economic crises, and the continuous evolution of technology have driven businesses to adapt to different work environments. 

One among which is remote working. Currently, it is seen that 12.7% of full-time employees work from home. Whereas, approximately 28.2% of employees work in the hybrid work model. 

If we look Upwork report, it says in the future (by 2025) around 36.2 million Americans are expected to be working remotely.

This is a considerable increase of 16.8 million people from pre-pandemic rates. Somewhere this can be a business strategy, sometimes it is a necessity. 

Moreover, one of the most prominent sectors where remote working is increasingly being utilized is the software development industry. Yes, you heard it right. Hiring remote developers has now become a popular trend.  This working style is not only benefiting employers but also the employees.

Let’s see by looking at some statistics.

Hiring of Remote Developers Statistics 2024

As per the Statista report, by the end of 2024, there will be about 28.7 million software developers worldwide having specialties in various skill sets.

Moreover, working from home for software developers is nowadays more common. 

  • Around one-third of developers wish to work remotely all the time. 
  • 71% of developers prefer a combination of home and office work. 
  • Surprisingly, one in every three developers would consider leaving their current job if they couldn’t work from home, and 18% are unsure. 

Seeing these stats means that companies must adjust to this shift and hire remote developers in attitude to keep their employees simply happy and satisfied.

And, that’s somewhere really important. As a result of a study, 90 percent of remote software engineers reported being as productive as or more productive than their on-site colleagues.

Similarly, there are several advantages that businesses enjoy when they hire remote developers. Let’s have a look at some of them one by one:

Top 7 Benefits of Hiring Remote Developers

1. Global Talent Access:

Hiring remote developers means businesses can search for talent from anywhere in the world. You have access to a diverse pool of skills and knowledge from developers around the globe. 

This means you are not restricted to any geographical location. Beyond local developers, you can find the best tech experts who may be in a different time zone. But this doesn’t mean you will be sacrificing quality.

Today, most companies are outsourcing their project to India, China, the Philippines, Eastern Europe, etc. These locations are well-known for their high-quality and cost-effective tech services.

Based on data from Evans Data Corporation, the number of software developers worldwide reached 26.3 million last year and is expected to reach 29.3 million by 2027. 

Simultaneously, the Asia-Pacific region is expected to see the most significant growth at 17%, with India leading the expansion. Whereas, North America is anticipated to experience the second-highest increase at 15%, followed by Latin America at 14%. 

Ultimately, when you hire remote developers, you are allowing your business to benefit from global industry expertise.

2. Reduced Operational Cost:

Another significant reason businesses today opt for remote software development services is the cost-saving factor.

Without a physical workspace, businesses save on office rentals, utilities, commuting allowances, office supplies, and other related expenses. This money can be invested back into the business or utilized to provide employees with higher compensation.

According to one of the Forbes articles, businesses can save as much as $11,000 per employee on workspace alone. 

On the other hand, salary expectations may be different based on the geographical location of the developer. Developers in certain parts of the world can be hired at a fraction of the cost than those in Western countries without compromising on the quality of work.

3. Flexibility:

As remote working space offers flexibility that traditional office settings usually can’t provide bringing a whole new dimension to work.

Remote developers can work on a schedule that suits their peak productivity hours which ultimately means higher-quality work. 

Also, the ability to work from the comfort of home, or anywhere else, can improve work-life balance and lead to happier, more motivated employees.

4. Higher Productivity:

Contrary to popular belief, remote workers are actually more productive than their office-based counterparts. 

The reason for this is the elimination of commute and workplace distractions. This leads to increased focus and efficiency in the work. A study by Stanford revealed that remote employees work 13% more compared to their in-office peers.

With that, you also have a wider opportunity for communication, since you can utilize digital tools to reach your developers at any time.

5. Quick Scalability:

Businesses often need to scale up their team quickly for new projects or during times of increased workload. Hiring remote developers provides the ability to quickly add experienced talent to the team, providing the agility businesses often require.

6. Reduced Employee Turnover:

Remote work provides improved work-life balance, leading to increased job satisfaction. Employees are also more likely to stick around when they can work flexibly, thereby reducing turnover rates. Lower turnover rates mean less time and resources spent on hiring and training new employees.

7. Greater Employee Retention:

If given the option, many employees would prefer to work remotely. By allowing developers to work from home or remotely, businesses can improve their employee satisfaction levels which often leads to better employee retention.

A study by Owl Labs found that employees who work remotely are 13% more likely to stay at their job for the next 5 years than on-site employees.

You should consider remote work if your goal is to retain skilled employees for longer periods, specifically if you are a startup or an SME.

Conclusion

Even though just 25% of businesses globally have fully adopted remote software engineer positions, it’s clear that there’s room for improvement. Yet, the achievements of remote work in the last two years demonstrate that it’s completely doable. Numerous companies are seeing unbelievable profits from hiring remote software engineers.

You as a business owner must take a step toward this change and leverage the benefits of hiring remote mobile app developers to remain competitive. 

So, adapt to this remote working trend and explore the potential of this powerful resource to foster growth in your business.