Is working from home for you?

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 Working from Home Infographic. Text Version Below.

 Working from Home-Is it for You?

Recent years have seen a vast increase in the proportion of people working from home. Here, we take a look at the benefits and whether it is a suitable option for you?

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Latest Trends

  • Telecommuting involves working from remotely or from home, but with access to the company network across the internet via a VPN.
  • Studies suggest that 66% of people would work from home, given the choice.
  • 36% of those studied would choose it ahead of a pay-rise.
  • 80% of employees consider telework a perk of the job.
  • 34 million Americans work from home.
  • Figure expected to reach 63 million by 2016.
  • Over 5 million work from home in the UK as of 2014.
  • 2% of the 4.5 million were professionals.
  • 5% were skilled workers.
  • 8% were managers or senior officials.

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Benefits to the Employee

Improves Job Satisfaction

  • 14 % of Americans have changed jobs to shorten the commute.
  • 95% of employers say that telecommuting has had a high impact on employee retention.
  • 46% of companies that allow telework say it has reduced attrition.

Increases Employee Empowerment and Collaboration

  • Working from home enables employees to be more independent and self-directed.
  • Telecommuting allows employees and contractors to collaborate with each other without worry of logistical barriers.

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Benefits to the Employer

Reduces Unscheduled Absences

  • Absenteeism costs over €1.5 billion a year in Ireland.
  • It is estimated to cost £29 billion per year in the UK.
  • Unscheduled absences in the US is estimated at $300 billion per annum.
  • Teleworkers generally continue to work when sick.
  • It is estimated that 78% of workers that call in sick generally aren’t. They miss work due to stress, family issues and personal needs.
  • Flexible hours allow people to schedule appointments more easily, instead of taking a full day off work.

Increases Productivity

  • British Telecom, Dow Chemical and Best Buy have all noted increased productivity of between 35-40%.
  • It is estimated that 60% of the commuting time saved, is used performing work for the company.
  • AT&T workers work five more hours at home than their office workers.
  • American Express teleworkers produced 43% more than their office workers.

Saves Employers Money

  • 60% of employers have identified the cost effectiveness of telecommuting.
  • Dow Chemical and Nortel save over 30% on non-real estate costs.
  • For Alpine Access, customer complaints decreased by 90%.
  • Federal employees that worked from home during a four day snow period in Washington saved the government over $30 million.
  • The Wall Street Journal reported that businesses that allowed employees to work from home at least three times a month were more likely to log revenue growth of 10% or more within 12 months.
  • In 2014, Dell made savings of over $12/€10 million and cut greenhouse gas emissions significantly.

Reduces the Need to Overstaff and Offers Scalability

  • Enables companies to add and reduce staff as necessary.
  • It is easier to achieve global, 24/7 coverage with home based workers.

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Some Global Companies that Allow Work from Home

  • Sutherland Global Services
  • Amazon
  • Kelly Services
  • IBM
  • First Data
  • Dell
  • Apple
  • ADP
  • VMWare
  • Salesforce
  • American Express
  • Adobe
  • EMC

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Is Working From Home for You?

  • Many companies require people to be assessed before deciding whether they are suitable to work from home.
  • Home environment must be suited to the work.Quietness, safety and comfort are all important factors.
  • Some personalities find it difficult to self-motivate.
  • Many employees work longer hours when working from home.
  • It will be difficult to get help from co-workers on troubleshooting issues.
  • Being disciplined and being able to manage and structure your day is vital.
  • Suited to excellent, proactive communicators.
  • Suited to tech savvy
  • Suited to people with previous experience in remote work.

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References

http://globalworkplaceanalytics.com/resources/costs-benefits

http://www.forbes.com/sites/jacobmorgan/2015/05/04/5-things-you-need-to-know-about-telecommuting/

http://www.forbes.com/sites/laurashin/2015/01/21/work-from-home-the-top-100-companies-offering-telecommuting-jobs-in-2015/

http://www.nytimes.com/2014/03/08/your-money/when-working-in-your-pajamas-is-more-productive.html?_r=0

http://www.careercast.com/career-news/working-home-really-right-you

http://www.entrepreneur.com/article/226888

http://www.theguardian.com/news/datablog/2014/jun/04/proportion-of-employed-working-from-home-reaches-record-high

http://www.wired.com/2013/06/the-new-workplace-reality-out-of-the-office/