Yes, but not directly. Working from home increases happiness and productivity of employees. It also leads to increased satisfaction and thus lower turnover rates of employees, thus increased overall productivity of the company. As a result, cost savings from "WFH" can be very significant -- to the level that the employee appears "Free" to the company!
There has been a long debate on the efficacy of working from home. Professor John Roberts and his team from Stanford GSB explored whether working fromhome benefits the company and the employee. The team conducted a study over a 10-month period at CTrip.com, a billion-dollar NASDAQ-listed company in Shanghai. He discovered that having employees work from home generates a win-win situation.
For the individual:
To further the net 13% gain for the companies with employees working fromhome, if the employees chose to work from home (i.e. decided to work fromhome knowing the negative sides of it, such as lack of social interaction), the number jumps to 22% gain in productivity. The net savings per employee whoworked from home was estimated to be approximately the annual salary of the employee! This is highly significant from the company’s point of view!
So, given the great benefits of remote work, why doesn’t everyone jump to it? There are, of course, negative sides of working from home. For one, as mentioned above, working from home removes a large part, if not all social interaction from colleagues. Some individuals feel more lonely as a result, while others who areworking in more creative sectors become less innovative due to the reduced chance to bounce ideas off colleagues. As such, the huge benefits of workingfrom home are only applicable for a selected group of individuals, and these are the people who should strive hard to get their companies to let them work fromhome, if they haven’t yet done so (more on this at a later date).
For more information of the study, watch this short video by Professor John Roberts from the Stanford Graduate School of Business, where he talks about how his groundbreaking study of call center workers in China provides the first scientific evidence that working from home can produce big gains in employee productivity. He conducted the study in collaboration with Stanford economics professor Nicholas Bloom, and Stanford GSB graduate students James Liang and Zhichun Jenny Ying. (
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Adapted from Working from home makes that employee FREE!
There has been a long debate on the efficacy of working from home. Professor John Roberts and his team from Stanford GSB explored whether working fromhome benefits the company and the employee. The team conducted a study over a 10-month period at CTrip.com, a billion-dollar NASDAQ-listed company in Shanghai. He discovered that having employees work from home generates a win-win situation.
For the individual:
- Employees were happier
- Employees saved time commuting
- Saved on real estate
- Employees worked 9% more
- Employees worked 4% more efficiently → total 13% gain.
- Fewer employees quit
- People can choose where they live
- City congestion eased with fewer commuters and fewer people having to live in busy cities just for their work
- Better family and community life
To further the net 13% gain for the companies with employees working fromhome, if the employees chose to work from home (i.e. decided to work fromhome knowing the negative sides of it, such as lack of social interaction), the number jumps to 22% gain in productivity. The net savings per employee whoworked from home was estimated to be approximately the annual salary of the employee! This is highly significant from the company’s point of view!
So, given the great benefits of remote work, why doesn’t everyone jump to it? There are, of course, negative sides of working from home. For one, as mentioned above, working from home removes a large part, if not all social interaction from colleagues. Some individuals feel more lonely as a result, while others who areworking in more creative sectors become less innovative due to the reduced chance to bounce ideas off colleagues. As such, the huge benefits of workingfrom home are only applicable for a selected group of individuals, and these are the people who should strive hard to get their companies to let them work fromhome, if they haven’t yet done so (more on this at a later date).
For more information of the study, watch this short video by Professor John Roberts from the Stanford Graduate School of Business, where he talks about how his groundbreaking study of call center workers in China provides the first scientific evidence that working from home can produce big gains in employee productivity. He conducted the study in collaboration with Stanford economics professor Nicholas Bloom, and Stanford GSB graduate students James Liang and Zhichun Jenny Ying. (
)
Adapted from Working from home makes that employee FREE!
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