Research Ties Significant Savings to Remote Work
US employers could save $11,000 per remote worker per year if employees worked remotely an average of 2.5 days a week, according to a study conducted by Global Workplace Analytics, a San Diego-based provider of research on agile work. This equates to a collective $500 billion per year if the 48 million full-time employees in the US whose job can be performed remotely did so 2.5 days per week. In comparison, the research estimates that the annual cost to outfit a home office is $670. As employees shifted to remote work, some companies provided compensation for home office furniture or equipment.
The study found 45% of the 48 million full-time employees would like to work from home and 82% of those would like to work from home at least weekly. The survey also demonstrated a preference for a mix of work time spent at home and in the office.
The savings factor in increased productivity, greater agility, reduced real estate costs, absenteeism and turnover costs. They are net of extra costs an employer might incur to support remote work.