![]() ![]() ![]() That stance matches a Cisco survey of federal government workers, which found that 66% prefer to work remotely more than half the time, with 85% saying that the ability to work from home significantly improves their job satisfaction.Īs the cost savings and productivity benefits of remote work become more apparent, more traditionalist executives will recognize the benefits of supporting their employees working remotely on a full- or part-time basis. After initially encouraging federal workers to return to the office, the administration now changed its stance and began advocating for remote work as a way to improve recruitment, retention, and productivity among government employees. In fact, one of my clients who I helped figure out future of work arrangements, the Jaeb Center for Health Research, made the decision to adopt a fully remote model after finding that over 85% of its employees preferred full-time remote work.Įven the Biden administration has recognized the benefits of remote work. Flexibility is a key factor in job satisfaction, and a study by the National Bureau of Economic Research found that offering a hybrid work schedule, which includes both remote and in-office work, can improve retention by over a third, compared to a fully office-centric schedule. A survey by the ADP Institute found that nearly two-thirds of respondents would consider looking for a new job if they were required to work in the office full-time. Remote work can also improve employee retention, and it’s very costly to replace employees, especially given the challenge of hiring good talent in our current labor market. Remote work makes it easier for companies to attract top talent, as a Morning Consult survey found that over 60% of respondents would be more likely to apply for a job that offered remote work options. Companies that offer remote work opportunities may also benefit from lower cost-of-living expenses, as they can hire employees from lower cost-of-living areas within the US or even outside the country.Įven during a recession, companies need to hire to replace people who leave, and we’re in an unusual situation of a surprisingly tight labor market despite the negative economic news. For a specific example, a survey of 3,000 workers at top companies such as Google GOOG, Amazon AMZN, and Microsoft MSFT found that 64% would prefer to work from home permanently rather than receive a $30,000 pay raise. An NBER study illustrates that remote work lowered wage growth by 2% over the first two years of the pandemic, as employees often view remote work as a valuable benefit and decreased salary demands in exchange for remote work options. In addition to being more productive, remote workers show a willingness to work for lower pay, another factor that will boost reliance on remote work in an upcoming recession. Studies have also found that greater worker autonomy and flexibility can lead to more innovation, and remote work facilitates autonomy. While collaboration and innovation may be weaker in a remote setting compared to an office setting, this can be addressed by using best practices for collaboration and innovation in remote settings, such as virtual asynchronous brainstorming. In contrast, industries that rely on in-person contact, such as transportation, dining, and hospitality, experienced a change in productivity growth from an average increase of 0.6% between 20 to a decrease of 2.6% since the start of the pandemic. A recent National Bureau of Economic Research (NBER) study found that productivity growth in industries with a high reliance on remote work, such as IT and finance, grew from 1.1% between 20 to 3.3% since the start of the pandemic. By the spring of 2022, this productivity gap had increased to 9% as companies continued to improve their remote work practices and invested in technology that supported remote work.Ī different study used employee monitoring software, and also found that remote workers are more productive than in-office workers. A study from Stanford University reported remote workers were 5% more productive than in-office workers in the summer of 2020. Evidence shows that remote work is more productive than in-office work, which makes facilitating remote work especially important in a time of cutting costs, since higher productivity means companies need fewer employees to do the same amount of work.
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