In the last few months, the concept of remote work and how job flexibility can impact the job marketplace have been doing the rounds. Result? A plethora of news articles, corporate white papers, and studies that provide a wide range of amazing statistics about remote work have emerged.
Remote Work Possibilities
Working remotely is a normal practice around the world these days for the majority of businesses. Remote jobs (or Teleworking or Telecommuting) offer innumerable advantages such as cost savings, increased productivity, and high employee morale to name a few. It is no wonder that more and more companies are no longer resisting letting their workers telecommute.
Numerous survey-backed empirical and scientifically-rigorous findings have demonstrated that modern-day organizations that provide the flexibility to work from home (or co-working spaces or remote jobs) tend to be more productive and profitable than businesses that support on-site work only.
Let us have a close look at some of the most interesting statistics about remote working.
Remote Work Statistics
Increased Worker Productivity: Remote work is undoubtedly a boon to productivity, according to companies and at-home employees. The common distractions like impromptu meetings, water cooler gossip, and loud colleagues are non-issues with remote jobs. Moreover, about two-third of managers are of the view that employees who work remotely manage to increase their overall productivity.
Improved Employee Efficiency: Disciplined remote workers are the beneficiaries of higher efficiency because of fewer distractions.
Reduced Employee Turnover: According to a study published by Stanford University, job attrition rates fell by over 50 percent and employee turnover was reduced when remote work options were offered. This report, which is based on statistics about remote work from a China-based firm listed on NASDAQ with 16,000 employees, described the concept of work-from-home as “highly profitable” for the company.
Reduced Stress And Improved Morale: According to a study, reduced stress levels were reported by 82 percent of telecommuters. It was reported by findings of this study by PGI, a leading provider of software services, that 69 percent reported lower absenteeism and 80 percent of workers reported higher morale.
Reduced Overhead And Rest Estate Costs: Significant reductions in operating costs are reported by companies of all sizes when they opt for remote work. According to a Forbes magazine report, annual savings of $10 million to $15 million were reported by American Express because of its remote work options and Aetna managed to save $78 million by shedding 2.7 million square feet of office space (14,500 of its 35,000 employees don’t have an “in-office” desk).
Greater Employee Engagement: Harvard Business Review concluded remote workers are often more engaged with supervisors and colleagues than in-office workers. It was found by a different study that 87 percent of remote workers feel more connected through video conferencing.
Driving Workplace Transformation: A four-fold increase since 1995 was revealed in a Gallup poll. It was disclosed that 37 percent of American workers have worked virtually in their careers. In other words, remote jobs have been one of the most astonishing and biggest drivers of transformation in the workplace.
Helps Companies Retain Talent: A survey of almost 8,000 millennials has disclosed that it is easier to retain this generation of workers by providing them flexible work options. This is one of the biggest reasons why more and more organizations are now providing the options of flexible scheduling and remote work to encourage employees to stay longer.
Keeps Experienced Workers In The Workforce Longer: It comes as no surprise that Americans over the age of 64 are working now more than any other time because of flexible work options and remote jobs. This finding was disclosed by a Pew Research Center analysis of employment data from the federal Bureau of Labor Statistics.
It was also disclosed by a report that older workers have a strong desire to stay active in the workforce. This report that was funded by the National Institute on Aging added their decision is often largely dependent on the possible availability of flexible work options.
In the first half of 2017, 32 percent of Americans 65 to 69 were employed, compared to 22 percent in 1994. These numbers are further expected to rise exponentially to 36 percent in 2024.
We are always happy to spill “insider” secrets about remote working and remote jobs. Let us know about any questions, feedback, suggestions, or assistance about the wonderful world of remote work!
Author: Ovidiu Dita