As remote work continues to grow from a nice-to-have perk to an expectation of employees and job seekers alike, the numbers indicate that there are many benefits to all parties involved, including companies.
Here are 17 remote work stats that quantify its positive impact.
1. Remote work can lead to “astonishing” productivity.
A two-year study by Stanford University found that there was an impressive increase in work productivity among people who worked from home. The study of 500 people who worked both remotely and in a traditional setting concluded that the productivity among home-based workers was equal to a full day’s work each week.
2. It increases employee retention.
The same Stanford University research concluded that people who worked remotely were less likely to leave the company for other employment. The study found there was an overall 50% decrease in attrition among home-based workers.
3. It decreases sick days and employee time off.
Some employers question whether the sick day is becoming passe, given that remote workers seldom “call in sick.” But the upside for home workers is that they may be less likely to become sick in the first place, since they’re not exposed to germs from a shared office space. The federal Centers for Disease Control recommends staying home if you’re sick, so remote workers are already ahead of the game.
4. It helps increase workforce diversity.
If you’re looking to improve your company’s diversity, building a strong remote team can help you meet your goals. Because the talent pool for remote workers is truly global, the opportunities are exponentially greater to find talented workers who vary in gender and gender identity, race, ethnicity, abilities, and geographic location.
5. It reduces costs for employers.
In 2018, there was an estimated $5 billion in cost savings for U.S. companies with employees who worked remotely—and that’s just counting part-time workers. In general, embracing remote work options can help employers reduce or eliminate overhead costs, including real estate and operating expenses. The average real estate savings for employers with full-time remote workers is $10,000 per employee every year, according to stats from PGI News.
6. It reduces costs for workers.
Remote workers can save about $7,000 a year on average, according to remote worker stats figures from TECLA, a global IT recruiting company. The bulk of those savings comes from reducing or eliminating the cost of commuting, food, clothing, and child care.
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7. It reduces stress.
Figures from OWLLabs in 2019 show that people who work from home at least once a month are 24% more likely to report feeling happier and more productive at their jobs. Factors like no commute and greater control over work environment and schedule play big roles in helping remote workers feel less stressed about their jobs.
8. It can help close the gender gap in technology.
There’s been a stubborn gender disparity in the technology industry, even more so than in other sectors. However, a recent U.K. study found that the gender gap in tech could be lessened by offering remote work options. Some 76% of women surveyed who work in technology said a remote work option is increasingly necessary to attract and maintain females in the tech industry.
9. It can prolong the careers of older workers.
More than half of workers over age 50 are likely to be out of a job at some point in their career, a stark fact reported by the Urban Institute and ProPublica. The good news is that remote work can have a positive impact for older workers who keep their skills current when it comes to evolving technologies and remote work models.