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Since the outbreak of COVID-19, most companies have had no choice but to embrace remote work at least in some capacity in order to survive.
In this blog piece, we take a look at key statistics and trends shaping the world of remote work.
Key Remote Work Statistics in 2021
- 16% of companies in the world are 100% remote
- 44% of companies don’t allow remote work
- Better work-life balance is the main reason why people choose to work remotely
- 77% of remote workers say they’re more productive when working from home
- The average annual income of remote workers is $4,000 higher than that of other workers
- 85% of managers believe that having teams with remote workers will become the new norm
- 74% of workers say that having the option to work remotely would make them less likely to leave a company
- The three biggest challenges associated with remote work are unplugging after work (22%), loneliness (19%), and communication / collaboration (17%)
The financial benefits of remote work
Did you know that remote workers make 8.3% more than non-remote workers?
When comparing remote workers with the same job title and qualification as non-remote workers, PayScale found that the salary of remote workers were on average 8.3% more than their non-remote worker counterparts.
In addition, it was estimated that the average person spends between $2000 to $5000 per year commuting to work. By working from home travel costs can be almost entirely cut out.
From the standpoint of an employer, did you know that according to a study conducted by Owl Labs almost 50% of employees were willing to take a pay cut of 5% or more to work from home! Of course, this is not to suggest paying your employees less, but rather to encourage you to open your company up to a wider pool of talent at a slightly lower cost.
44% of companies globally don’t allow remote work!
According to Owl Labs, 44% of companies do not allow remote work. This statistic was shocking and could be attributed to a number of reasons. It was found that companies might have concerns about communication and productivity.
These concerns can be invalidated as research shows employees are just as productive, if not more, working remotely.
In addition, the percentage of remote workers also varies based on geography. In Asia, 9% of companies allow employees to work from home. In Africa and Australia, remote and hybrid work structures are much more common with 59% and 65% respectively.
Are some industries more suited to remote work than others?
When looking at the prevalence of remote work the finance, management, professional services, and information sectors are the most dominant. The finance and insurance jobs have shown the highest potential for remote work with three-quarters of their activities can be done remotely without any loss to productivity, according to a study carried out by McKinsey in 2020.
What about job satisfaction?
Remote work has now become a key part of job satisfaction. Those given the opportunity to work remotely have recorded a higher rate of job satisfaction. A majority of 82% of employees have stated their preference to work remotely one day a week or more even after the COVID-19 pandemic passes.
Finally “work from home” queries on Google US, went up by 309% in March 2020 vs. 2019!
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