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. At Smart Working, we have written down 8 stats that show why more and more companies are hiring remote employees.
1. Increase Productivity – According to one study, remote employees work 1.4 more days per month than their office-based counterparts, resulting in more than three additional weeks of work per year. Survey also shows that 79% of remote workers feel that working from home increases their productivity and that they can focus better on their work.
2. Improves Loyalty – Employee’s happiness plays an important role in whether or not they decide to look for a new job. Employee turnover is expensive. It takes time, money, and resources to hire and train a new person to fill the position. Remote can be a real help – 81% of people agree that being able to work remotely would make them more likely to recommend their company to their friends. Statistics say that remote employees are 13% more likely to stay in their current job for the next five years than onsite employees.
3. Decreases missed days – The Centres for Disease Control and Prevention (CDC) recommends staying home if you’re sick, so remote employees are already ahead of the game. When they are feeling a little under the weather but can still work (and want to), they can work from home without using up a sick day. Employers won’t lose a day of productivity due to the sniffles.
4. Increases workforce diversity – Building a strong remote team can help companies meet workforce diversity goals. Because the talent pool for remote workers is truly global, the opportunities are exponentially greater to find talented workers who vary in gender, race, ethnicity, abilities, and geographic location.
5. Remote work saves employers and employees money – If employees that could work remotely did so half the time, it would result in over $700 billion in national savings. Additionally, businesses would save an average of $11,000 per year for every remote worker, and they themselves would save anywhere from $2 to $7K a year. This also doesn’t take into account how much cheaper it is to hire remote workers than it is to bring someone in-house.
6. Reduces Stress – A survey conducted by FlexJobs asked 3,900 people about how work impacts their mental health. Of the 2,100 people who reported they had a mental illness, such as anxiety or depression, 80% said that having a remote job would help them manage their mental health.
7. Benefits the Environment – The lesser people commute, the lesser they contribute to greenhouse gas emissions. Hiring more remote employees can contribute to reducing climate change.
8. It’s Here to Stay – According to Upwork, 41.8% of the American workforce continues to work remotely. 36.2 million Americans (22% of the workforce) will be working remotely by 2025. This is a staggering 87% increase from the number of remote employees before the pandemic!
From the statistics reported above, it’s clear that remote work is an excellent option for both employees and employers. Employees save time from commuting, get more work done, feel happier with their employment situation, and improve their work-life balance. Employers save money, have a happier workforce, and see increased productivity rates. Everyone wins with remote work.
Smart Working is a leader in providing remote staff, we follow best industry practices to hire and retain the best talent for our clients.