Your Business Could Benefit from Allowing Employees to Work From Home: The Facts and Figures
Working remotely can sounds like a dream come true to many; not having to commute, be stuck in an office with people you may not love, your lunch regularly going missing? Perfection. To managers and those looking to maintain oversight over their entire team, it can also sound like a nightmare: are your employees really working when they say they are? Or are they doing the bare minimum and sitting on the sofa, relaxing?
The facts and figures showing just how productive and effective a remote working team can really be don't lie, however.
The facts and figures showing just how productive and effective a remote working team can really be don't lie, however.
Productivity Skyrockets
According to a 2-year Stanford study that saw the CEO of Ctrip, China’s largest travel agency, offer remote working to 250 employees (against a 250-person control group), productivity boosted by a full day’s work per tele-commuter. The lack of staff being late because of heavy traffic into Shanghai, or needing to leave early for personal commitments meant that each remote-working team member worked an actual full day of work, with fewer distractions present. Flexjobs found that 66% of remote workers felt that their productivity had increased due to working remotely. Stanford’s nine-month study concluded that remote workers were 13% more productive than their in-office counterparts.Office Costs Drop
The Ctrip study mentioned above also resulted in drastically reduced office costs, with the company saving $2,000 (~£1,600) per employee on rent as their HQ office space needs dropped. A Forbes article published in March 2019 agrees with Stanford’s findings; based on research performed by PGi stating that the average real-estate savings with remote workers equates to around $10,000 (~£8,000) saved per employee. Additionally, according to Forbes, Aetna, a major insurance company, reduced their office space by 2.7 million square feet, resulting in yearly savings of $78 million (~£62.6 million) annually. Giving your staff the freedom to get their work done from home could be saving your business a fortune, while also increasing how productive your team is overall.Employee Retention and Job Satisfaction Increases
When working from home, employees tend to find their job satisfaction skyrockets and as a result, company staff turnover diminishes by a large margin. A survey conducted by The Owl Labs discovered that of the 1,202 U.S workers they interviewed, remote workers stated they were happy with their job 29% more than staff in the office performing the same role. Another study conducted by Stanford found that employers who offered employees the opportunity to work from home found employee turnover rates fell by over 50% The number of UK workers who’ve made the move to remote working has increased by a quarter of a million, and with that number rising rapidly, it’s time to decide your own business whether making remote working a permanent fixture in your company’s future could benefit not only your staff, but also your company’s bottom line. See how ASUS can help your remote work environment flourish: ASUS - Stay Connected
