10 Reasons Why Employers & Employees Love Working From Home
In the news recently you probably saw a story about Yahoo and the memo that their employees got, essentially saying that there would be no more working from home. That was a bomb in the tech world, since most tech companies are going the opposite direction. Working from home is on the rise, and for good reason. While it cannot fit every situation, there are plenty of places where it does fit, and this is a large perk for employees.
Balancing work and family is something that has always been a struggle. Employees really want to work from home and are willing to give up some things in order to do that. In a survey one year ago, 78% said they would be willing to forgo free meals they currently get, 54% would forgo company paid cell phone plans, 31% said they would give up some of their paid vacation time and 25% said they would be willing to take a reduction in salary. Here are 10 reasons why employees and employers love working from home.
- No More Commuting: As the old saying goes, time is money, and many people are commuting at least 1 hour/day to and from work. In addition, gas prices continue to go up and so not only are employees saving time, but they are literally saving money by not commuting. The average person working from home full time will save 520 gallons of gas/year which equates to about $2000/year.
- Flexibility to Work 8 Hours at Any Point in the Day: There is always a struggle to balance work with the rest of our lives. In a world that seems to be demanding even more of our time, employees value the ability to put in their work when it best fits their schedule. Being able to adjust their working hours by the day is a tremendous freedom that employees love.
- More Time with Family: Because of the time that is saved by not commuting an employee will already have more time with their family. In addition, with flexible working schedules, an employee can enjoy more of the events that they used to miss. For example, a child’s school play can be attended and work finished up later in the evening on that day.
- Increase in Job Possibilities: For people who are in industries where tele-working is common, the job market opens up substantially. This gives people the ability to search for work outside the area in which they live without concern of having to root up their family and relocate.
- Reduced Expense on Eating Out: Most people who go to work in an office tend to eat out for lunch, perhaps more than they should. When working from home it is much easier to eat at home and not eat out so much. This is also very beneficial for those who have special diets that they must conform to as well, such as those who are on a gluten free diet.
- Overhead: As an employer cutting cost is one way to increase the bottom line or at least make sure there is a bottom line in the black. When a company has a staff working from home, there is a significant decrease in the overhead, making it much easier to achieve a profit.
- Increased Production: Although it may initially be counter-intuitive that production would increase with employees working from home, there have been plenty of studies done that suggest that it does increase with employees working from home. The reasoning on why this happens is because it is quitter at home with far fewer interruptions such as one gets in the cubicle jungle in an office. In addition, studies also show that employees tend to work longer when working from home.
- Increase Potential Employee Pool: As an employer it is important to find the right people to hire. When you remove geographic boundaries by a WFH policy, you increase the ability to obtain qualified applicants from all over the country, even the world. This gives an employer a far greater pool of potential employees to choose from.
- Lower Attrition Rates: Employees love the perk of working from home and, as discussed above, they are willing to give up some things to get that. Because this is so attractive, employers who have a work from home policy or at least offer it have lower attrition rates. Employees are happier and they stay longer.
- Lure Top Talent: When an employer offers work from home options it makes that company much more attractive to potential employees, including some of the industry’s top talent. This gives a competitive advantage to the business that offers work from home privileges and advertises that fact.
At the end of the day each company must decide for themselves what is going to work best for them and their circumstances. Yahoo, deciding to rescind the work from home program has certainly caused some waves and some tech companies are trying to take advantage of that by attempting to lure some of the top talent in Yahoo with the very thing that they are about to lose. AdaptivityPro supports the work from home option and encourages their employees to work from home. We would like to hear your thoughts, whether an employee or an employer. Leave us some comments below.Back