How much can a company save per year when letting an employee work from home?
According to current data compiled and published by the marketing firm, Review42, $11,000 is how much companies can save annually for each employee that works remotely, even on a half-time basis.
Here are some other fascinating remote work statistics for your quick review.
- 5% of businesses globally offer some capacity for remote work
- 18% of the workforce telecommute on a full-time basis
- 77% of telecommuters report being more productive
- 37% of remote workers say the best way to boost productivity is to take regular breaks
- 30% of telecommuters save upward of $5,000 a year
- People who work remotely earn $4,000 more per year on average
- 99% of remote workers want to continue telecommuting in the future
- 90% of remote workers would recommend working remotely to a friend
Even though many companies allowed their staff to work remotely before the COVID-19 pandemic hit the world, it became the new norm after that. As the pandemic spread, forcing the world to go into lockdown, business organizations were left with no other option than to switch to online working. Here are a few more interesting stats for your consideration.
1) 4.7 million people were already working remotely from home before the COVID-19 pandemic
2) 88% of the organizations, worldwide, made it mandatory or encouraged their employees to work from home after COVID-19 was declared a pandemic
3) In the U.S., remote work has risen by 173% between 2005 and 2018
4) 77% of remote employees say they’re more productive when working from home
5) 37% of remote workers stay productive by taking breaks
6) 75% of people who work from home do so because there are fewer distractions
7) U.S. companies that allow remote working have a 25% lower employee turnover rate
8) 19% of remote employees report loneliness as their biggest challenge
9) 54% of IT professionals think that remote workers are a greater security risk
10) 20% of remote workers identify communication as an obstacle
11) 55% of U.S. workers say remote work can succeed in their industry
12) 57% of employees in the financial industry can work from home
(U.S. Bureau of Labor Statistics)
13) Only 14% of workers in the transport and utilities industry can work from home
(U.S. Bureau of Labor Statistics)
14) 16% of remote workers are managers
15) 30% of remote workers are saving as much as $5,240 per year
16) Businesses would save an average of $11,000 annually per half-time telecommuter
17) 25% of employees would take a 10% pay cut to work remotely
18) As of April 2020, 67% of organizations reported an increase in spending on web conferencing software.
19) 25% of respondent companies will move 10% of their employees to permanent remote positions post-COVID 19
20) Amazingly 99% of remote workers would like to continue doing so to some extent
Altogether, these remote work statistics show that remote work is here to stay. Working from home has been on an upward trend for close on to two decades, with no potential endpoint in sight. However, that doesn’t mean that it doesn’t come with its fair share of challenges. This is especially true for specific industries, for example, transport. But it’s also true that it has great potential in other areas.
Today, it is more important than ever to explore your options. From potentially cutting costs to diversifying your staff, remote working can give your company an edge. And as an employee, it can give you more freedom and flexibility than you’ve ever enjoyed before.
Your thoughts and comments (firstname.lastname@example.org) are most welcome!
Sources: Review42 compiled data from the US Bureau of Statistics, LInkedIn, Global Workplace Analytics and several others.