Geographic study shows cost reduction for remote staff

A study by Harvard Business School’s Technology and Operations Management Unit has revealed the economic benefits of remote working. (Live and) Work from Anywhere: Geographic Flexibility and Productivity Effects at the United States Patent Office examined 600 remote workers’ productivity. It revealed a 4.4% reduction in hiring costs and $132m more fee revenue for the US economy.

Remote working reduces attrition by half

Remote working is key to a more productive workforce thanks to fewer sick days and higher productivity among staff.  Chinese travel provider Ctrip conducted a two-year study into flexible working and found a 50% decrease in employee attrition. They also saved costs of up to $2,000 per employee thanks to reduced office space.  

Employers fail to meet working expectations

A new survey by Capita has revealed that employers are failing to meet workers’ expectations on remote working. Just 32% of UK workers can work remotely as and when they please. The State of IT – The Employee Verdict also revealed that 71% of staff would like the option, citing work-life balance, lower transportation costs and a reduced carbon footprint. Joe Hemming, executive officer at Capita IT & Networks, said: “Today’s workforce is increasingly demanding the ability to work wherever and whenever they want. In the long run, an inability to offer remote, flexible working could leave an organisation watching some of its best employees heading for the exit.”

One third of employees would take a pay cut

Improved technology has led to an increased number of employees wishing to work remotely. The state of modern working has now changed so much that 34% of workers would take a 5% pay cut to work from home. A further 24% would take a 10% pay cut, according to a report from Owl Labs. The survey interviewed 1,202 full-time workers in the US between the ages of 22 and 65.  One fifth of respondents considered a pay cut of more than 10%.

Talent boost reflected in worker salaries

Almost one quarter of remote workers earn $100,000 or more, compared to just 7% who work in an office full-time. The State of Remote Work report reveals that many remote workers had senior leadership titles, or founders and chief executives. A study of 1,202 US workers reported that a further 6% earn $200,000 per year, compared to 1% of full-time office workers. The study correlates with the benefits of remote working, enabling business managers to hire from a larger pool of talent.

Ireland considers taking France’s lead on “switch-off” laws

The Government is currently considering implementing a “switch-off” law for workers who feel digitally connected outside working hours. In 2017, the French government introduced a law that would see employers giving their teams the opportunity to switch off outside of working hours. Minister for Business Heather Humphreys said it would help to improve the nation’s work-life balance. Tools such as RosyBoa help to prevent worker burnout by encouraging productivity and eliminating needless processes.

Making collaboration sustainable

A well-designed collaborative tool should not add more to your workload: it should optimise processes to help you get the most out of your in-house and remote teams. The team at CMSWire have identified three key factors to making collaboration sustainable: 1) to find a collaborative process that works for you and your teams, 2) to find the best collaboration tool for you and 3) to find a business or cultural reason to increase productivity.

The Age of Imagination is upon us

The most innovative companies of the future are those that think outside of traditional structures and hierarchies, bringing collaboration to the fore. At the recent World Government Summit, the UAE Minister of Cabinet Affairs and the Future hypothesised that 65% of jobs in the future do not even exist today. He noted that we have moved beyond the Age of Information into the Age of Imagination. Writing for Forbes, Amy Blankson says this future is in our hands: to profit, we must use collaboration as currency.

Survey highlights trends in collaboration

A report by Unify Square has identified a number of new trends and issues among collaborators. The “Teamwork and Collaboration: Rise of Millennials and End Users vs Discord” report showed that Millennials were more likely to use unapproved apps for collaboration, potentially resulting in security risks. The report also outlined the “future of collaboration”, stating that a one-size-fits-all approach no longer works for offices, and many freelancers enjoy using co-working spaces.

Many firms “underestimate technology needs” for remote working

Firms are overlooking technology needs as an essential component of remote working, according to Forbes.  Insufficient bandwidth, checking for Virtual Private Networks and cybersecurity were all key concerns, as well as using the right videoconferencing technology. RosyBoa’s project management tools provide easy collaboration using technology backed by neuroscience.