Top Benefits of Remote Work
Cost Savings to Businesses
Who knew you could save big bucks by having your employees work from home. In 2020, U.S. employers saved over $30 Billion a day
as a result of the increased number of people working remotely. The average employer saved an average of $11,000 per half-time telecommuter, according to Global Workplace Analytics. Where did the savings come from? Much of it was attributed to increased productivity, decreased real estate costs, and reduced employee turnover.
You might be wondering how much could your business save if you implemented more work-from-home measures? You can calculate your potential savings using the Telework Savings Calculator
. Keep in mind the savings will depend on the size of your business, how many employees would work remotely, and if it would be on a full-time or part-time basis. Cost Savings to Employees
Businesses weren’t the only ones who saved money in 2020. Employees who worked remotely half the time saved between $2,500 to $4,000. They no longer had to spend their own money on commuting to work, gas, and business travel.
Because the savings and benefits of working from home have become so valuable, 80 percent of employees are now wanting to work remotely. Increased Workforce Productivity
Less time commuting has allowed employees more time to focus on the important work that gets business results. Studies show that half-time telecommuters save about 11 workdays of time per year they would have spent commuting, and full-time telecommuters save three times as much (Global Workplace Analytics).
Furthermore, 77 percent of employees
have reported an increase in productivity due to working from home. Want to get more value out of your employees, consider letting more of them work from home. Reduced Employee Turnover
Working from home has become a huge job perk and the reason many employees want to stick around. In 2020, employee turnover decreased by 25 percent as a result of more people enjoying the benefits of working remotely (Forbes). When it can cost businesses between $15K to $50K to replace an employee
, creating a more flexible work culture could help your bottom line.
According to the Annual IWG Global Workspace Survey, 83 percent of workers
say that the option to work remotely was a key deciding factor in choosing their next job. Gallup research also shows that 54 percent of workers
would leave their job if they found one that had more flexible working conditions.