How Companies Benefit When Employees Work Remotely. As some companies move to adopt broader telecommute policies, others such as Yahoo! In addition to enhancing productivity, remote work also helps companies by allowing them to recruit the best people, no matter where they happen to live, and to retain those remote rock stars after they’re hired. Because the onboarding … Early- and mid-career workers tended to choose locations based on future career considerations, while workers with longer tenures flocked to “retirement-friendly” destinations, such as Florida. 5. Companies have cited the need for office “face time” and the benefits of spontaneous interaction among reasons to avoid remote work, even for highly skilled, autonomous employees. Wang says that work-from-home stipends should be a priority for companies that have implemented remote working since the pandemic. Could your leadership style be influencing bad behaviour. Here are five specific benefits of telecommuting and other flexible work options, and why they are a win/win. In today’s highly competitive market, it is imperative to find the best solution in any category. Prior to TEAPP, examiners could work from home as long as they were within 50 miles of the USPTO headquarters in Alexandria, Virginia, but they had to report to the office once a week. 40% of people feel the greatest benefit of remote work is the flexible schedule. Ad ID: 4374667619 At the moment, we’re living in very unusual times. Giving employees the ability to work remotely also allows you to hire outside of normal commuting distance. Interested in improving your business? Retention — 54% of employees say they would change jobs for one that offered them more flexibility, which results in an average of 12% turnover reduction … Prithwiraj Choudhury, an associate professor in the Technology and Operations Management Unit at Harvard Business School, and fellow researchers compared the outcomes of flexible work arrangements at the US Patent and Trademark Office (USPTO). Prior to TEAPP, examiners could work from home as long as they were within 50 miles of the USPTO headquarters in Alexandria, Virginia, but they had to report to the office once a week. Many of the examiners also benefited financially by bringing their Greater Washington, DC, salaries to less costly regions, effectively increasing their real incomes. Business School faculty. The study’s findings can help firms understand the effects of various flex-work options, and support certain types of employees as they negotiate with employers. Flexible work options increase productivity. The study’s findings can help firms understand the effects of various flex-work options, and support certain types of employees as they negotiate with employers. This major monetary advantage of remote work could proceed as more organizations make it a drawn-out arrangement. Remote onboarding requires new skills, capabilities, and processes. HDFC Life-Max Life merger: Big blow for the industry? This implementation process enabled Choudhury and his co-authors to avoid what is known as the selection problem in social science research. The potential for this new research to help inform discussions about remote work policies excites Choudhury. Since work from home professionals aren’t dishing out for driving expenses and regularly get a good deal on espressos and … Ailyn Pestana, junior designer and photo coordinator at Harvard Business School, created the charts above. “It’s trust—it’s the fear that people will shirk, and I think it’s the lack of clarity from the academic research as well,” Choudhury says. have publicly retreated from allowing workers to perform their jobs away from headquarters. The agency eventually allowed them to work beyond 50 miles away, but still required weekly trips to the office. The agency eventually allowed them to work beyond 50 miles away, but still required weekly trips to the office. Ailyn Pestana, junior designer and photo coordinator at Harvard Business School, created the charts above. ; The office is here to stay, but its role is set to change. Choudhury says the results have important implications for workers, who could potentially move to lower-cost areas, reduce commuting costs, and live closer to family and friends. Published by webadmin at December 18, 2014. Remote work has been an overwhelming success for both employees and employers. Whether you The post How Companies Benefit When Employees Work Remotely? 76% of workers would be more willing to stay with their current employer if they could work flexible hours. Working remotely saves companies money. Turns out letting employees work remotely can be a massive benefit to a business. While digital technology has made workers more efficient and accessible than ever before, many companies have been slow to let employees work from home regularly, let alone from anywhere at any time. Appsquadz Blog How Companies Benefit When Employees Work Remotely? Prithwiraj Choudhury, an associate professor in the Technology and Operations Management Unit at Harvard Business School, and fellow researchers compared the outcomes of flexible work arrangements at the US Patent and Trademark Office (USPTO). Experts seem Unimpressed. Many of the examiners also benefited financially by bringing their Greater Washington, DC, salaries to less costly regions, effectively increasing their real incomes. Giving knowledge workers, particularly those who work solitarily, the freedom to choose their location could benefit not only employees, but companies and the environment, too. While prior academic research has studied productivity effects of ‘working from home’ that gives workers temporal flexibility, ‘work from anywhere’ goes a step further and provides both temporal and geographic flexibility,” says Choudhury, who co-authored the paper, (Live and) Work from Anywhere: Geographic Flexibility and Productivity Effects at the United States Patent Office (pdf), with HBS doctoral student Cirrus Foroughi and Barbara Larson, executive professor of management at Northeastern University. The team found that employees with liberal “work from anywhere” arrangements, similar to those offered at Akamai, NASA, and Github, among others, were 4.4 percent more productive than those following a more traditional “work-from-home” policy that gives schedule flexibility but requires workers to live near the office. I personally believe that a company that utilizes remote workers is rewarded. Evidence from 35,000 Startups, How 'Small C' Change Can Beat Large-Scale Rebuilding, Merck CEO Ken Frazier Discusses a COVID Cure, Racism, and Why Leaders Need to Walk the Talk, How Gender Stereotypes Kill a Woman’s Self-Confidence. http://www.forbesindia.com/article/harvard-business-school/how-companies-benefit-when-employees-work-remotely/55307/1, Why finance professionals need to change the way they work. However, work-from-anywhere policies could increase costs in work environments that require brainstorming and project-based interaction, says Choudhury, adding that more research is needed to fully understand the implications of remote work in more collaborative settings. Employees who work remotely have shown to be much more productive and nearly exceed the 40 hour work week twice. How Companies Benefit from Remote Workers? Choudhury and his fellow researchers contrast pooled interdependence with “reciprocal interdependence,” which requires continued interaction between co-workers, and “sequential interdependence,” which involves a series of tasks performed by different employees. Remote working is a trend that isn’t going to slow down any time soon. Your comment may be edited for clarity and length. You Can Still Be Productive, The Open Office Revolution Has Gone Too Far, Unexpected Exercise Advice for the Super Busy: Ditch the Rigid Routine, Is A/B Testing Effective? “People will gravitate to a location where they want to live, rather than where they have to live,” predicts Choudhury. TikTok Offered Details about how its Most Popular Feed Works. “This was the big promise of digital technology, that it would allow people to move away from the urban clusters.”. Based on a patent's average value, this productivity gain could add $1.3 billion of value to the US economy each year, the researchers estimate. NY Times Bestselling Author. Quentoq gives you a platform where you can submit News/Press Release in order to take your business to the new heights by aiming to attract your target prospects. What’s rarely acknowledged, however, is that remote work also benefits the employer. Prithwiraj Choudhury, an associate professor in the Technology and Operations Management Unit at Harvard Business School, and fellow researchers compared the […] Find out how studies have unearthed some unexpected advantages discovered by companies that allow remote work. By now, most companies have at least heard of remote working and may have even allowed some employees to work from home on occasion. To study the productivity effects of work-from-anywhere policies, Choudhury looked for a setting that would allow the researchers to isolate productivity changes among workers with similar job functions under different remote-work conditions. Companies have cited the need for office “face time” and the benefits of spontaneous interaction among reasons to avoid remote work, even for highly skilled, autonomous employees. Companies that let their workers decide where and when to do their jobs—whether in another city or in the middle of the night—increase employee productivity, reduce turnover… ForbesWomen. Opinions expressed by Forbes Contributors are their own. Companies that let their workers decide where and when to do their jobs—whether in another city or in the middle of the night—increase employee productivity, reduce turnover, and lower organizational costs, new research suggests. According to research, remote workers are more than 20% more productive when working remotely compared to in an office. Why won’t the internet stop showing me Mother’s... Reopening Schools Safely is Going to Take Much more Federal Leadership, Here’s where the US government is using facial recognition technology to surveil Americans. Learn about fresh research and ideas from Harvard ]SHOW LESS, Original Link: http://www.forbesindia.com/article/harvard-business-school/how-companies-benefit-when-employees-work-remotely/55307/1. In order to be published, comments must be on-topic and civil in tone, with no name The remote working group results not only showed a work productivity boost equal to a full day’s work, but also fewer sick days and a 50 percent decrease in employee attrition. By working remotely, employees are allowed to get their work done outside the conventional workplace/office. Employees with jobs that require minimal coordination could potentially use these findings in negotiations with a prospective employer, says Choudhury. Companies with a remote staff could save money. And they trust their employees to do their best work even if no one's looking over their shoulders. “For the vast majority of such employers, remote work is a win-win, because the employee can move to a location of choice and save money in cost of living, and the employer will see higher productivity and lower attrition, and save on real estate costs,” says Choudhury. TEAPP provided full autonomy. The shift in positive attitudes toward remote work is evident: 83% of employers now say the shift to remote work has been successful for their company, compared to 73% in our June 2020 survey. Choudhury and his fellow researchers contrast pooled interdependence with “reciprocal interdependence,” which requires continued interaction between co-workers, and “sequential interdependence,” which involves a series of tasks performed by different employees. Working Remotely Means Less Stress. Robin Milton, after being a part of the marketing industry for several years, he took the opportunity to pursue blogging full time. Companies that let their workers decide where and when to do their jobs—whether in another city or in the middle of the night—increase employee productivity, reduce turnover, and lower organizational costs, new research suggests. MeiMei Fox Contributor. To put their findings in perspective and offer a framework for future research, the researchers emphasized the nature of a patent examiner’s work, which requires little coordination with co-workers on a daily basis. My mom died 8 years ago. “It’s trust—it’s the fear that people will shirk, and I think it’s the lack of clarity from the academic research as well,” Choudhury says. Examiners perform their work independently, adhering to the same best practices of patent searches—a style of work that prior research has termed “pooled interdependence.” Choudhury stresses that the research results apply only to companies or units that employ this type of worker. Choudhury says the results have important implications for workers, who could potentially move to lower-cost areas, reduce commuting costs, and live closer to family and friends. Just take a look at this stat: 69% of remote workers reported lower absenteeism than non-remote employees according to a 2014 study by PGi. Companies that let their workers decide where and when to do their jobs—whether in another city or in the middle of the night—increase employee productivity, reduce turnover, and lower organizational costs, new research suggests. [This article was provided with permission from Harvard Business School Working Knowledge. To Choudhury, a deeper factor might underlie their reluctance. Giving knowledge workers, particularly those who work solitarily, the freedom to choose their location could benefit not only employees, but companies and the environment, too. Flexibility and comfort in working provides gratification to employees, leads to quality work, that is most important element for growth of the companies. The outbreak of Coronavirus has resulted in massive changes to the way we work. Seeking to increase efficiency, the agency implemented the Telework Enhancement Act Pilot Program (TEAPP) in 2012. While working remotely, productivity increased among all examiners and continued to rise with each step toward the full work-from-anywhere policy, the researchers found. 5 Signs You Need to Replace Your Air-Conditioner Now! Reduced salary: Work from home professionals and representatives the same can both appreciate the budgetary advantages of working from home. The trend might continue. What many companies have yet to embrace, though, is how a remote office environment can benefit them. Productivity increased 4.4 percent when employees moved from working at home on a limited basis to the location of their choice. calling or personal attacks. Companies need to stimulate cooperation between colleagues and monitor togetherness. Based on a patent’s average value, this productivity gain could add $1.3 billion of value to the US economy each year, the researchers estimate. Work from anywhere isn’t for everyoneTo put their findings in perspective and offer a framework for future research, the researchers emphasized the nature of a patent examiner’s work, which requires little coordination with co-workers on a daily basis. A growing number of companies are fast adopting such concepts like remote working to boost employee productivity and efficiency. Let's Talk . This can be particularly beneficial in locations or professions with skills shortages, as small businesses can widen their nets and work with the most talented individuals, regardless of where they’re based. However, Uncle Sam is still interested in what you earn, regardless of where you choose to work, so plan on filing a returnif you earn more than $10,000 (U.S.) from an employer or $400 if self-emp… Despite a wealth of new technologies that can facilitate collaboration among workers no matter where they are, employers are still concerned about whether they’re getting the most from employees. Workplace stress nowadays is a bigger problem than ever before. [Image: NoSystem Images]. Let your worries down and make better connections with your target audience. Social distancing orders in light of the coronavirus pandemic has forced companies to send workers home and have them work remotely. Looking aheadAs some companies move to adopt broader telecommute policies, others such as Yahoo! How companies benefit when employees work remotely. Seeking to increase efficiency, the agency implemented the Telework Enhancement Act Pilot Program (TEAPP) in 2012. Digital Workplace Group states that 2008, the number of people working remotely has seen a 115% rise, and they have predicted that 38% of the population of full-time employees will be doing their work remotely in the next decade. In the previous newsletter, I discussed how working remotely has many benefits to those who like to work off-site. Early- and mid-career workers tended to choose locations based on future career considerations, while workers with longer tenures flocked to “retirement-friendly” destinations, such as Florida. Examiners perform their work independently, adhering to the same best practices of patent searches—a style of work that prior research has termed “pooled interdependence.” Choudhury stresses that the research results apply only to companies or units that employ this type of worker. Remote work enables companies to embrace diversity and inclusion by hiring people from different socioeconomic, geographic, and cultural backgrounds and with different perspectives—which can be challenging to accomplish when recruiting is restricted to a certain specific locale that not everyone wants, or can afford, to live near. The benefits employees have are reflected on companies to help them achieve better results. The program transitioned patent examiners to a work-from-anywhere policy over 24 months, shifting new examiners each month based on union-negotiated quotas. AppSquadz Contacts. We're asking Working Knowledge readers to share their thoughts about remote work. Employers can benefit from remote work just as much as employees. By eliminating that commute, and letting remote employees work in an environment that they’re comfortable in, employers are nurturing less stressed-out employees. “The concern is that there is some underlying characteristic of people that is driving whether one wants to become a remote worker, and that characteristic is also correlated to productivity,” explains Choudhury. May 20, 2020 - Latest insights on how companies benefit while employees work remotely and the reasons why companies are increasingly adopting this trend. The USPTO provided the perfect opportunity. Isolating the benefits of remote workTo study the productivity effects of work-from-anywhere policies, Choudhury looked for a setting that would allow the researchers to isolate productivity changes among workers with similar job functions under different remote-work conditions. have publicly retreated from allowing workers to perform their jobs away from headquarters. Here are some of the advantages businesses can benefit from when they offer employees remote work: Higher employees productivity; Remote working was basically thought by some people to make employees less professional, and less productive. The potential for this new research to help inform discussions about remote work policies excites Choudhury. Additionally, among employees who had their mouse movement and/or screen time tracked by their employers, only 39% of remote workers sought out work … Harvard Business School Working Knowledge. The program transitioned patent examiners to a work-from-anywhere policy over 24 months, shifting new examiners each month based on union-negotiated quotas. To Choudhury, a deeper factor might underlie their reluctance. Company Benefits. Consciously planned off-time moments such as virtual coffees or 'bring your kids to work' sessions give teams the opportunity to connect with each other. Productivity increased 4.4 percent when employees moved from working at home on a limited basis to the location of their choice. While working remotely, productivity increased among all examiners and continued to rise with each step toward the full work-from-anywhere policy, the researchers found. This implementation process enabled Choudhury and his co-authors to avoid what is known as the selection problem in social science research. By Brenda Nice . Only 41 percent of those surveyed work for companies with established remote-working policies, and just 15 percent believe their company supports flexible work arrangements. Working smarter is actually means the manifold to benefit of working remotely. Have publicly retreated from allowing workers to perform their jobs away from headquarters use these in! Remote work result of the pandemic marketing industry for several years, he took the opportunity to pursue full. 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