The COVID pandemic was fraught with many challenges, including widespread hospitalizations, industry personnel shortages, work stoppages-shutdowns-closures, and worst of all, massive deaths.
One positive that did emerge from the pandemic was the remote work-from-home option, a particular perk, especially cheered by millennials and employees who are parents and adult caregivers of family members.
During the pandemic, the workforce shutdown created this new viable remote work or telework option. Remote work has become a popular perk and coveted bargaining chip for employers to incentivize and attract potential new hires. Remote work saves employers huge overhead costs in office space. “The research firm Global Workplace Analytics found that companies can save up to $11,000 for every employee working two or three days remotely per week.” – Fortune.com
The Bureau of Labor Statistics reports that “Among the 6 percent of establishments that reduced the square footage of their workplaces since the start of the pandemic, 63 percent increased telework!” Remote work is the new frontier of the modern-day workforce.
There are other benefits and cost savings for employers to offer remote work options to employees, “Employers can hold interviews, training, meetings, and conferences in a virtual setting through internet and video. This provides drastic savings for businesses by cutting back on travel expenses.” – Ohio University MBA Program
For employers, they are realizing larger cost savings in the reduction of expenses associated with supplies, utilities, and other employee accommodations resulting from implementing a remote workforce.
“Contrary to the old belief that working from home will decrease productivity, recent statistics show more faith in telecommuters. Fifty-six percent believe that remote workers are just as productive as traditional workers, and 24 percent believe those who work from home are more productive than their counterparts. Compared to 1995, when 47 percent thought telecommuters could be productive, 58 percent now believe the same.”
“Studies show employees who work from home are 53 percent more likely than non-telecommuters to contribute more than 40 hours a week. On average, they put in five to seven hours longer than traditional workers.” – Ohio University MBA Program
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