A report by the President’s Council of Economic Advisers, released at the forum, highlighted benefits of remote working including “reducing absenteeism, lowering turnover, improving the health of workers, and increasing productivity.”
The same benefits are borne out by the results of a report by The Telework Coalition, “Wired Working as a Lifestyle,” that found:
- businesses save an average of $20,000 a year for each full-time employee who works remotely;
- employee productivity increased by an average of 22 % when remote working was allowed;
- remote working reduced employee turnover by 50 %.
One entrepreneur I talked to while working on the “Work Without Walls” project says his 64-person business went completely virtual a year ago. The move saved him $1 million on rent and overhead-and made his staff more motivated and productive