25% Less Employee Turnover: Remote Work Statistics and the Stories Behind Them

Numbers don’t lie, and in some cases, they can present a story as vibrantly as words can.

 

On paper, remote work sounds like a rather stale, sedate topic, but a 2017 report on the data regarding its impact on employee success and retention reflects a great deal about telecommuting’s present and future:

 

Employee Turnover

  Employee Turnover  

For starters, the survey found that companies that allow their employees to work remotely enjoy 25% less employee turnover than their counterparts that don’t. This makes sense, considering that 65% of the survey respondents that don’t work remotely expressed a desire to be able to do so at least once a month.

 

In addition to this, 57% of those who didn’t express an interest in working remotely cited the incompatibility of their tasks as the main reason for such .

 

What does this data tell us? One is that today’s employees are responding positively to the idea of working remotely. Another is that there is an increased demand for jobs that are telecommuting-friendly. Re-examining the nature of certain tasks to determine how they can be adjusted for compatibility with remote work just might yield to an increase in employee retention for companies and businesses that can make the effort.

 

Hiring Process Speed

 
hiring

Image Credit: Pixabay

 

Oh, and another plus for companies that support remote work? They’re able to fill job vacancies faster than firms that don’t, 33 percent faster to be more precise. When you remove geographical limitations, you expand your candidate pool exponentially and are able to find individuals with the appropriate skills and qualifications much faster.

 

Work Quality

  Quality  

Now, what about the quality of work done by remote employees? Apparently, whether someone works from home or at the office has very little, if any, impact on the results they deliver. Majority of the managers who participated in the survey reported equal levels of performance between their on-site and remote employees.

 

Company Size vs. Compatibility With Remote Work

 
company size

Image Credit: Pexels

 

Furthermore, a company’s size also plays a role in determining whether it will embrace remote work policies or not. In the same survey, small companies were discovered to be twice as likely to hire full-time remote workers than their larger counterparts.

 

Why so? Perhaps it’s because smaller companies are leaner and have less intricate hierarchies that make decision-making easier and quicker. Let’s also consider how start-ups are especially keen on cutting costs wherever possible, and that some of remote work’s most obvious benefits are aligned with this. The less employees you have working onsite, for instance, the smaller the office space you would need to lease.

 

The Remote Worker: Profiling By The Numbers

 
Remote Worker

Image Credit: Pexels

 

What is the average telecommuter like? The full-time remote worker is twice as likely to be an individual contributor rather than a manager, and there’s a 66% chance that s/he is in sales. Remote work requires a great deal of independent work and minimal supervision, so it’s possible that individual contributors are better suited to it since their jobs don’t require them to oversee a team. Telecommuting also minimizes the sort of interruptions that one typically encounters in the workplace.

 

The Sales Department too, arguably allows for more autonomy among its workers than other departments for accomplishing targets, making it highly compatible with a remote work set-up.

 

You don’t need to be a statistician to appreciate the story that the numbers above are telling, but you do have to be an effective leader to put this new information to good use.

 

So, the question now is, does your company have what it takes to make it in the Age of Remote Work?

Serena Estrella

Serena joined iRemit back in 2016, and has tormented its Marketing Head constantly ever since. To get through the rigors of writing about grave concerns like exchange rates, citizenship requirements, and PH-AU news, she likes to blast Mozart, Vivaldi, ONE OK ROCK, and Shigeru Umebayashi in the background. She does a mean Merida voice in her spare time too.

Comments
SHOW 0 COMMENTS

Leave A Comment

Your email address will not be published. Required fields are marked *