The trend of remote work is on the upswing, with around two-thirds of companies now allowing their workers the flexibility to work from home at least part of the time.
The Cross-Benefits of Remote Work
The growth potential of remote work is getting clearer for all stakeholders. Both companies and employees are reaping the manifold benefits of remote work, including positive financial, emotional, and environmental effects.
The financial benefits of working from home
Individuals have discovered personal savings when telecommuting by cutting out their commute and lowering other work-related costs (dry cleaning and going out for lunches). Work-from-home statistics suggest that full-time remote work saves employees around $4,000 annually.
For companies, the savings can be even more pronounced. Housing a full-time employee requires several costs, the most obvious of which may be real estate. Not needing dedicated offices, companies can grow without expanding their physical presence or moving to a larger site.
Additionally, related expenses, including housekeeping, office supplies, and dedicated tech (like phones and computers), are no longer dragging on a company budget. Indeed, even reduced HVAC costs can mean large-scale savings.
A study shows that by allowing workers to spend just half their time working remotely, a company saves an average of $11k annually per employee. Many companies seek to expand their remote work based on this information. Insurance giant Aetna, for example, quotes a $70m annual boost because nearly 50% of its workforce is remote.
The emotional benefits of remote work
Most (around 75%) remote workers have stated that working from home has positively affected their work/life balance. Returning the time it takes to commute means children get to school more easily, and meals are more manageable. This has resulted in more employees desiring to work remotely. Over 60% of workers say they have considered leaving their job for something comparable that is remote. And 9 out of 10 of those who have transitioned to work from home say they never want to return to a traditional office. On the flip side, companies offering work-from-home expect a 10% growth in retention.
Employers may have the largest question surrounding remote work regarding home distractions and whether remote work causes a dip in focus and productivity. However, metrics demonstrate that employees are generally more productive when working remotely.
The environmental benefits of remote work
Commuting to work is one of the major contributors to greenhouse gas emissions. By eliminating the commute, each employee that works from home is doing their part for the planet. In addition, working from home encourages digital sharing (rather than paper), reducing waste. Telecommuters today, in the US alone, have reduced greenhouse gas emissions by over 3.5 million tons per year.
The lessened need for real estate builds and lower utility costs also help the environment and allow companies to gain coveted green status more easily.
Other benefits for businesses and employees
General Health: Help stop the spread of contagion through offices. Telecommuting reduces exposure to germs meaning better short and long-term health for employees.
Older employees: It is easier to retain legacy employees and create phases of retirement when allowing for work from home.
Female employees: There is speculation that it is possible to retain more top female tech talent when offering remote work solutions.
In general, remote work has numerous benefits that far outweigh any detriments. If you are trying to demonstrate to a higher-up or employees why remote work might be a better option for your company, most work-from-home statistics will resoundingly back up your claim.
Sarah is a Content Marketing Manager at Siege Media and Your Best Digs who work remotely while traveling. She’s passionate about developing high-quality content for diverse industries ranging from startups to Fortune 500 companies. When not creating content, she’s likely hiking a new trail or mapping out the next destination.