A recent report found that U.S. businesses stand to save over $400 billion annually by implementing virtual work policies. The report, commissioned by Citrix Online and compiled by Telework Research Network, found that by allowing workers to work half of their time at home, employers could save $10,000 per employee in increased productivity, lowered absenteeism, and reduced turnover.
Employers' biggest concern in implementing work-from-home policies is lack of management, but, according to the report, employers can assume a 27 percent increase in productivity on days employees work outside the office.
According to the report, the annual cost per unscheduled absence is $310. By allowing employees to work part of the time from home, employers can trim nearly 4 days of absences per year. Less time in the office means less exposure to stress and sick coworkers.
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Another benefit of telecommuting is increased attraction and retention. Over a third of workers would prefer working from home to a pay raise, the report found. Telecommuting is one of the top non-financial benefits desired by employees, and extends the talent pool to people who would otherwise be unavailable, like seniors, parents or disabled workers.
Telework Research Network analyzed over 250 case studies, research papers, books, and other documents to compile the report.
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