In the wake of the COVID-19 pandemic, U.S. companies shifted millions of employees to remote work positions.
According to a new study, this change could be cost-effective for both employers and workers.
The study, conducted by San Diego-based consultant group Global Workplace Analytics, found that businesses with employees who telecommute an average of 2.5 days per week could save nearly $11,000 per worker each year.
The savings were based on factors such as increased work productivity, reduced absenteeism, lower turnover and reduced office expenses.
In addition, the report found that employees who work part-time from home could save an average of $3,000 per year.
The savings come from reductions in transportation, food and clothing costs. Added remote working expenses, such as increased home energy costs, were included in the calculation.
The research was based on the consultant group’s database of business case studies and a remote work savings calculator on its website.
According to Kate Lister, president of Global Workplace Analytics, COVID-19 has shown employers the advantages of remote working schemes.
Prior to the pandemic, she said, only 7% of American businesses offered employees the opportunity to work from home, with the majority of companies fearing the arrangement would lead to reduced productivity.