Derek,

I think that remote work can be a great option to give employees more flexibility, however, it really depends on your business and industry. If you are in retail a remote work strategy will almost certainly not work (unless you are only an online only retail (ecommerce) shop).

Remote work can help increase productivity because you have helped eliminated commuting time and other stressers that can lead to employee frustration. However, it can have some draw backs as well. Being 100% remote it is harder for employees to get to know one another (which means you'll have to put a lot more effort into team building and such).

If there is absolutely no office, you can benefit from reducing your overhead expenses (office space, utilities, etc.)

I think a better policy than 100% remote (unless the team is distributed worldwide) would be to have a focus on remote work, with an option to meet or work from a coworking space. This still helps lend an aspect of social interaction and doesn't lead to isolation.