2020 Virtual Work Statistics & What You Need to Know
In recent months, remote work has become the norm for most. But how is it impacting workers and organizations alike?
We've made a list of the most prominent virtual work statistics to explore how employees, contractors, and organizations will operate going forward. Our aim is to help workers and businesses discover the pros and cons of remote work and decide how they would like to operate from here on out. We have used reliable resources to ask:
How many people are now working remotely?
How has the pandemic changed work in recent months?
How will the workforce change in the coming year?
What are the benefits and challenges of remote work?
Virtual Work Stats:
4.3 million people in the USA work from home at least half the time. VIA Global Workplace Analytics
Studies repeatedly show desks are vacant 50-60% of the time. [Global Workplace Analytics’ analysis of 2017 ACS data]
80% of employees want to work from home at least some of the time. VIA Owl Labs
Companies that allow remote work have 25% lower employee turnover than those that don’t. VIA Owl Labs
Employees save between $2,500 and $4,000 per year by working at home half the time. VIA Global Workplace Analytics
Telecommuters right now reduce greenhouse gas emissions by an amount equal to 600,000 cars. VIA State of Telecommuting
86% of people feel that working remotely reduces stress. VIA FlexJobs
Stats on Virtual Work Changes in Light of COVID-19:
Work-at-home will save U.S. employers over $30 Billion a day in what would have otherwise been lost productivity during office closures due to COVID-19. VIA Global Workplace Analytics
U.S. workers were 47% more productive in March and April than in the same two months a year ago through cloud-based business tools, chat applications and email, according to an analysis of 100 million data points from 30,000 Americans by workplace-monitoring company Prodoscore.
Global Analytics also estimates that 25-30% of the workforce will be working-from-home multiple days a week by the end of 2021.
Benefits of Virtual Work:
It saves organizations BIG.
It reduces turnover. Employees and contractors benefit from less distraction, reduced stress, financial savings, and flexibility.
It's better for the environment. There is no better way to reduce your carbon footprint that to reduce company travel and commutes. It improves employee satisfaction which in turn leads to productivity!
It expands the talent pool. You aren't limited to one location! You can recruit top talent from anywhere.
It allows you to continue operations in the event of a disaster.
Challenges of Virtual Work:
It's not for everyone. Some industries such as manufacturing could not transition to remote work.
You may have to re-structure your business. Processes have to be re-evaluated and updated for remote work.
Security issues can arise. When you take things virtual, security is more important and must be addressed by everyone within your organization.
It can feel like your work day never ends and you're always "on call." This is when you have to set core working hours and make sure you have a hard stop for your work day to end.
It brings culture to the forefront. If you don't have a good company culture in place, bringing your company virtual will be extremely challenging.
If you or a peer would like assistance bringing your business virtual, please schedule a complimentary consultation.
