Workers want more remote work. The trend may save employers millions.


Large businesses could save an average of $11.3 million per year if they moved to remote work for half the work week, but those companies aren’t the only ones that would benefit, according to a new study.

The bulk of those savings, about $7 million, come from increased productivity and employees spending part of their commute time savings logged on for work, according to research and consulting firm Global Workplace Analytics. The savings are based on a business with 500 employees and are run through the company’s telework savings calculator, which the U.S. Office of Management and Budget referred to as “comprehensive and based on solid research.”

About $2 million come from reduced real estate costs, $388,125 in savings from reduced retention costs and about $1.3 million a year from reduced absenteeism, such as employees taking the day off in order to be present for home repairs, according to Kate Lister, president of Global Workplace Analytics.

Read the full story on cleveland.com’s sister site, Cleveland Business Journal.

Get the best in local business news sent straight to your inbox with the Cleveland Business Journal. Free to sign up.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *