There’s no denying that the way we work has gone through a high-speed metamorphosis over the past three years.  While employers weren’t necessarily prepared for their entire workforce to work from home, circumstance, technology, and innovation have proved not only that it can be done but that it can work out surprisingly well for all involved.

OWL Labs and Global Workplace Analytics recently teamed up to survey over 2,300 full-time U.S. workers in July 2022 to find out more about how they felt about the new workplace landscape and how remote work was affecting them.  Here’s what they found:

• Remote employees save an average of 40 minutes daily from commuting.
• 23% of those surveyed would take a 10% pay cut to work from home permanently.
• 62% of workers feel more productive when working remotely.
• People are saving on average close to 500 dollars per month being at home. Resulting in savings close to $6000 per year.
• If the ability to work from home was taken away, two-thirds (66%) of workers would immediately start looking for a job that offered flexibility, and 39% would simply quit.
• A mere 20-25% of companies are paying some of the cost for home office equipment and furnishings.
• 59% of respondents said they would be more likely to choose an employer who offered remote work compared to those who didn’t.

BUT, ARE EMPLOYEES REALLY MORE PRODUCTIVE AT HOME?

The global professional services network PwC set out to answer this question by surveying almost 4,000 business and HR leaders from 28 industry sectors.  73% percent of those executives surveyed found that working remotely has been a success with 57% of respondents saying their organisation performed better against workforce performance and productivity targets over the past 12 months.   The same executives in the PwC survey expected to need 30% less office space in the next three years.

The HR and benefits consulting firm, Mercer, came to the same conclusion with their survey of over 800 employers, 94% of which state that work productivity was either the same or higher since employees started working from home.

READY OR NOT, REMOTE WORK IS HERE TO STAY – FOR GOOD

With businesses continuing to face the reality that remote work is here to stay – for good, there will always be those who prefer to work in an office environment while certain industries like retail, construction, and warehouse will always need workers on site.  For employers, finding the right balance between a remote and in-office workforce will be crucial to the future success of any business. Offering hybrid work models and allowing employees more flexibility with work location will also be important tools in most business continuity plans.  In tomorrow’s workforce landscape, flexibility means having an advantage over the competition.