Working From Home

Money Talk News

Working from home has a list of benefits that get overlooked. Of course, there are some challenges too. Management mistrust, co-worker jealousy, and security issues, just to name a few. However, the benefits far outweigh the risks and obstacles in a number of ways.

Increased Productivity

It’s hard to imagine, but a lot of employees are much more productive when they work from home. The office can have a lot of distractions that can result in companies losing billions. However, at home, there are reports of teleworkers being far more productive than their in-office peers. For example, Best Buy reported that they have noticed their employees that work from home are 35-40% more productive than when they are in the office. AT&T even noticed that their teleworkers would work more hours when at home than in the office.

Working from home is relaxing. You’re at home in your own element. It makes sense that when in that setting workers can become engrossed in their work and lose track of time. It really goes to show how much environment plays a role in productivity.

Increased Employee Satisfaction

People get tired of the hustle and bustle of the morning commute. It can be overwhelming and demanding. That is why employees that are able to work from home consider it to be a perk. Many are even willing to take the option to work from home over a pay raise. Some even admit that they would take a pay cut of as much as 10% if they can work from home.

No one truly enjoys being tethered to a desk. Having the freedom to work from anywhere is the perfect way to boost morale and keep employees happy.

Decreased Employer Costs

Employees calling off work due to sickness or personal reasons can cost  $1,800 per employee per year for employers. That’s sickening considering how most sick days are not spent actually being sick. 78% of employees that call out sick are actually dealing with issues at home, stress, or just need a mental health day to themselves. An organization that implemented a work from home program found that there was a 63% decrease in call-outs. Thus, saving cost per employee each year.

Saving on unexpected employee callouts is not the only way that companies are saving money. Many companies have reported that by having employees telework they have been able to save millions in their real estate costs. IBM reported that they were able to cut their real estate costs by $50 million. By having employees work from home they don’t have to pay for as many buildings and the maintenance of those buildings.

If you have the ability to work from home, consider taking it! There are so many people that would love to be in your shoes.