Working from home has always been a part of office culture for extenuating circumstances, but it was not fully embraced until COVID-19. Though COVID-19 was a debilitating force for companies, the benefits of working from home have been surprising as more Canadians have experienced them first-hand. Let's break down just how working from home has completely changed the business world for the better.
1. How Working from Home Increases Productivity
Over two-thirds of companies such as Best Buy, British Telecom, and more show that working from home is 30-40% more productive than in an office, for multiple reasons. As employees save on commuting time, that is more time that they have to put towards the company. There are also less distractions when working from home than working in a business environment – studies show that businesses lose $600 billion a year in workplace distractions.
2. Working from Home Saves on Transit - and the Environment
The average commuter would spend thousands a year on gas back and forth, but working from home has given them the chance to put that money back in their wallet. Employees are now able to save that money to feed back into the economy in other ways. At a time like this, revitalizing the economy is vital for the country.
The Earth also benefits from a lack of transportation. In 2016, approximately 854 000 car commuters in Canada spent at least 60 minutes travelling to work. The average duration of the commute was 24 minutes, and the median distance was 8.7 kilometres. This statistic has risen from 2011, and would continue to rise if it weren't for the work-from-home movement caused by COVID-19. Now that 32% of Canadians are working from home (in comparison to 4% in 2016), CO2 emissions have been drastically reduced, and streets are no longer congested with traffic. Working from home helps the environment and the wallet of both the employee, and the economy.
3. Working from Home and Mental Health
While working from home has a negative impact on mental health through back-to-back virtual meetings and high expectations during transitional phases, a support group and a strong team can generate a work environment that actually creates the opposite. Studies have shown that the affects of mental health on working at home are strongly dependent on the kind of care that the company gives to support its employees.
If a company maintains a healthy work environment with its practices, mental health can increase when working at home. The employer needs to keep in mind that increased productivity can increase stress on the employee, so it is best to promote practices that separating work from home life is not only acceptable, but encouraged.
4. How Working from Home Increases Revenue
We've discussed some monetary benefits to the employer, but how does working at home help overall for revenue? Well on average if a company allowed their staff to work from home just half the time, it would save an average of $11 000 per employee. In fact, six out of ten employers have said that working from home is a significant cost saving measure. Many different companies have returned with their own studies all citing that allowing employees to work from home has saved them up to $69 million through avenues such as real estate and inexpensive compliance with disability regulations.
Real estate needs are some of the most pivotal ways that a company can help reduce costs. The less employees required to remain in the office, the less of an office space that you need. And if an employee is using their personal computer, phone electricity, heating and air conditioning, then that's further savings for the company.
Working from home is an excellent way to save money while benefiting both employees and the company in the process. It might have taken a pandemic to lead us down that road, but now that we're there the benefits can not be ignored, and many businesses are taking notice.
