The findings of a study by Stanford economist Nicholas Bloom are likely to give working from home (WFH) a good name. Widespread flexible work arrangements could add $1.5 trillion to the American economy, he and two co-authors found.
The study, published as a National Bureau of Economic Research working paper, is based on surveys of about 300 employees at a global travel company. Employees were randomly assigned to one of four groups: work from home one day a week, work from home two days a week, work at the office five days a week, or work from home four days a week with one day working at the office.
“We found that people who worked from home increased their output by 13 percent,” Bloom said in a statement. “They also reduced their hours by almost nine percent, which means they were more productive per hour.”
The study’s authors say their findings suggest that if all employees had the option to telecommute, it would lead to an increase in GDP of 2.5 percent.
Bloom told The Huffington Post that he was surprised by the finding that workers were more productive when working from home. “It’s counterintuitive,” he said. “You think people might slack off because they’re not in the office, but we found that people worked harder.”
“If we limited our talent pool to a commuting radius around our offices, we would be at a significant disadvantage. The best people live everywhere, not concentrated in one area.” – Brian Chesky, Airbnb CEOTweet
Last week Airbnb announced that they will let staff work from home indefinitely. The company said “its staff will be able to work from home or the office and move anywhere in the country they live without their pay being affected.”
Airbnb CEO Brian Chesky “predicted that in 10 years, flexible working would be the norm for many people”.
Pros and cons of working from home
There are a few clear benefits to remote work. Employees working from home save on their commute, and they can also wear whatever they want. But working from home also has its drawbacks.
Some people find it difficult to stay focused when there are no boundaries between their work and personal lives. Others feel lonely or isolated without the office water cooler chats or coffee breaks.
There are many pros and cons to working from home. Some of the pros are that you can set your schedule, you can avoid traffic, and you can save money on transportation and lunch costs. Some of the cons are that you can easily become isolated, you can be less productive, and you may miss out on important office gossip.
Overall, the pros of working from home typically outweigh the cons. But it’s important to be aware of both sides of the equation before deciding to work from home.
Increase in employee productivity: Remote work benefits for employers
There are several reasons why working from home may lead to increased productivity.
For one, people can set their own hours and work at their own pace. They don’t have to worry about wasting time commuting or being disturbed by coworkers.
Additionally, working from home allows people to take breaks whenever they need them, without feeling guilty. This can help them stay focused for longer periods.
There are many misconceptions about working from home.
The most common one is that people think employees who work from home are slacking off and not working. However, a study done by Stanford University has shown that employees who work from home are more productive than those who work in an office.
The study found that working from home increased productivity by 13%.
This is because employees who work from home have more control over their environment and can take breaks when they need to without having to worry about what their boss will think. They also don’t have to waste time traveling to and from work.
Expert Tips For Working From Home
Work from home can be a great way to save money on outside food and transportation costs, but it also has its own set of challenges. Here are a few tips for making the most of your work-from-home arrangement:
1. Establish a routine.
When you’re working from home, it can be easy to get sidetracked by household tasks or other distractions. Try to create a routine for yourself and stick to it as much as possible.
2. Set boundaries.
It can be difficult to stay focused when there are no physical boundaries between work and home. Set some ground rules for yourself and stick to them. For example, you might decide that you’ll only work from 9 a.m. to 5 p.m. each day, or that you’ll take a break every couple of hours to get up and move around.
3. Stay connected.
Even though you’re working from home, it’s important to stay connected with your team and other colleagues. Make sure you have regular check-ins, use video conferencing tools when possible, and stay active on email and messaging platforms.
4. Take breaks.
It can be easy to work for hours on end when you’re working from home, but it’s important to take breaks occasionally. Get up and move around, take a walk outside, or just step away from your computer for a few minutes to clear your head.
5. Create a workspace.
When you’re working from home, it’s important to have a dedicated workspace where you can focus on your tasks. This might be a separate room in your house or just an area where you have all of your supplies and tools set up.
6. Set boundaries.
It can be easy to blur the lines between work and home when you’re working from home, but it’s important to set some boundaries. Make sure you have specific times when you’re working and when you’re taking a break. And, if possible, try to avoid working on weekends.
It is no secret that the way we work is changing. With advances in technology, more and more people are working from home. A recent study found that 43% of American workers now telecommute at least part-time. That number is only going to continue to grow.
There are many advantages to remote work and flexible work culture. Employees save on gas money and avoid traffic jams. It is easier to take care of household tasks or take kids to school without having to miss a day of work.
The bottom line is that work from home is here to stay. If you want to stay ahead of the competition, you need to start offering remote work options to your employees.