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how companies benefit when employees work remotely

In addition to enhancing productivity, remote work also helps companies by allowing them to recruit the best people, no matter where they happen to live, and to retain those remote rock stars after they’re hired. As your company thinks about making this move, consider these top seven benefits of remote working. The program transitioned patent examiners to a work-from-anywhere policy over 24 months, shifting new examiners each month based on union-negotiated quotas. How Companies Benefit from Remote Workers? The USPTO provided the perfect opportunity. calling or personal attacks. This implementation process enabled Choudhury and his co-authors to avoid what is known as the selection problem in social science research. 5. Digital Workplace Group states that 2008, the number of people working remotely has seen a 115% rise, and they have predicted that 38% of the population of full-time employees will be doing their work remotely in the next decade. Turns out letting employees work remotely can be a massive benefit to a business. Let your worries down and make better connections with your target audience. TEAPP provided full autonomy. Harvard Business School Working Knowledge, Copyright © President & Fellows of Harvard College, How Companies Benefit When Employees Work Remotely, Letting independent workers choose their locations can boost companies, employees, and even the economy, according to research by, Sources: US Patent and Trademark Office; “(Live) and Work from Anywhere: Geographic Flexibility and Productivity Effects at the United States Patent Office” by Prithwiraj Choudhury, Cirrus Foroughi, and Barbara Larson, Source: “(Live) and Work from Anywhere: Geographic Flexibility and Productivity Effects at the United States Patent Office” by Prithwiraj Choudhury, Cirrus Foroughi, and Barbara Larson, Lumry Family Associate Professor of Business Administration, (Live and) Work from Anywhere: Geographic Flexibility and Productivity Effects at the United States Patent Office, Stuck in Commuter Hell? Companies with a remote staff could save money. Daryl Wilkinson, head of digital development at … Whether you The post How Companies Benefit When Employees Work Remotely? Opinions expressed by Forbes Contributors are their own. What’s rarely acknowledged, however, is that remote work also benefits the employer. Flexibility and comfort in working provides gratification to employees, leads to quality work, that is most important element for growth of the companies. Early- and mid-career workers tended to choose locations based on future career considerations, while workers with longer tenures flocked to “retirement-friendly” destinations, such as Florida. Employees who work remotely have shown to be much more productive and nearly exceed the 40 hour work week twice. Company Benefits. Flexible work options increase productivity. Examiners perform their work independently, adhering to the same best practices of patent searches—a style of work that prior research has termed “pooled interdependence.” Choudhury stresses that the research results apply only to companies or units that employ this type of worker. Prithwiraj Choudhury, an associate professor in the Technology and Operations Management Unit at Harvard Business School, and fellow researchers compared the […] To Choudhury, a deeper factor might underlie their reluctance. Looking aheadAs some companies move to adopt broader telecommute policies, others such as Yahoo! Many of the examiners also benefited financially by bringing their Greater Washington, DC, salaries to less costly regions, effectively increasing their real incomes. Reduced salary: Work from home professionals and representatives the same can both appreciate the budgetary advantages of working from home. “The concern is that there is some underlying characteristic of people that is driving whether one wants to become a remote worker, and that characteristic is also correlated to productivity,” explains Choudhury. Working smarter is actually means the manifold to benefit of working remotely. To study the productivity effects of work-from-anywhere policies, Choudhury looked for a setting that would allow the researchers to isolate productivity changes among workers with similar job functions under different remote-work conditions. have publicly retreated from allowing workers to perform their jobs away from headquarters. Giving employees the ability to work remotely also allows you to hire outside of normal commuting distance. A growing number of companies are fast adopting such concepts like remote working to boost employee productivity and efficiency. And they trust their employees to do their best work even if no one's looking over their shoulders. “For the vast majority of such employers, remote work is a win-win, because the employee can move to a location of choice and save money in cost of living, and the employer will see higher productivity and lower attrition, and save on real estate costs,” says Choudhury. For companies seeking to expand their remote work policies, the USPTO program offers several other considerations for executives: Kristen Senz is a writer and social media creator for Harvard Business School Working Knowledge. At the moment, we’re living in very unusual times. Despite a wealth of new technologies that can facilitate collaboration among workers no matter where they are, employers are still concerned about whether they’re getting the most from employees. The team found that employees with liberal “work from anywhere” arrangements, similar to those offered at Akamai, NASA, and Github, among others, were 4.4 percent more productive than those following a more traditional “work-from-home” policy that gives schedule flexibility but requires workers to live near the office. Find out how studies have unearthed some unexpected advantages discovered by companies that allow remote work. http://www.forbesindia.com/article/harvard-business-school/how-companies-benefit-when-employees-work-remotely/55307/1, Why finance professionals need to change the way they work. In order to be published, comments must be on-topic and civil in tone, with no name ; The office is here to stay, but its role is set to change. Working remotely saves companies money. The good news for Americans traveling abroad is they will not lose their U.S. citizenship regardless of the length of stay. TEAPP provided full autonomy. Here are some of the advantages businesses can benefit from when they offer employees remote work: Higher employees productivity; Remote working was basically thought by some people to make employees less professional, and less productive. The USPTO provided the perfect opportunity. AppSquadz Contacts. As some companies move to adopt broader telecommute policies, others such as Yahoo! Because the onboarding … Quentoq gives you a platform where you can submit News/Press Release in order to take your business to the new heights by aiming to attract your target prospects. Choudhury and his coauthors compared 600 examiners’ productivity under these various conditions. May 20, 2020 - Latest insights on how companies benefit while employees work remotely and the reasons why companies are increasingly adopting this trend. This implementation process enabled Choudhury and his co-authors to avoid what is known as the selection problem in social science research. TikTok Offered Details about how its Most Popular Feed Works. Based on a patent’s average value, this productivity gain could add $1.3 billion of value to the US economy each year, the researchers estimate. Employees with jobs that require minimal coordination could potentially use these findings in negotiations with a prospective employer, says Choudhury. You Can Still Be Productive, The Open Office Revolution Has Gone Too Far, Unexpected Exercise Advice for the Super Busy: Ditch the Rigid Routine, Is A/B Testing Effective? 5. Employers can benefit from remote work just as much as employees. Seeking to increase efficiency, the agency implemented the Telework Enhancement Act Pilot Program (TEAPP) in 2012. Experts seem Unimpressed. The study’s findings can help firms understand the effects of various flex-work options, and support certain types of employees as they negotiate with employers. Companies that let their workers decide where and when to do their jobs—whether in another city or in the middle of the night—increase employee productivity, reduce turnover… ForbesWomen. Prithwiraj Choudhury, an associate professor in the Technology and Operations Management Unit at Harvard Business School, and fellow researchers compared the outcomes of flexible work arrangements at the US Patent and Trademark Office (USPTO). Companies that let their workers decide where and when to do their jobs—whether in another city or in the middle of the night—increase employee productivity, reduce turnover, and lower organizational costs, new research suggests. Why Companies Should Let Employees Work Remotely And Travel More . To study the productivity effects of work-from-anywhere policies, Choudhury looked for a setting that would allow the researchers to isolate productivity changes among workers with similar job functions under different remote-work conditions. While prior academic research has studied productivity effects of ‘working from home’ that gives workers temporal flexibility, ‘work from anywhere’ goes a step further and provides both temporal and geographic flexibility,” says Choudhury, who co-authored the paper, (Live and) Work from Anywhere: Geographic Flexibility and Productivity Effects at the United States Patent Office (pdf), with HBS doctoral student Cirrus Foroughi and Barbara Larson, executive professor of management at Northeastern University. This major monetary advantage of remote work could proceed as more organizations make it a drawn-out arrangement. While digital technology has made workers more efficient and accessible than ever before, many companies have been slow to let employees work from home regularly, let alone from anywhere at any time. Choudhury and his coauthors compared 600 examiners’ productivity under these various conditions. Remote working is a trend that isn’t going to slow down any time soon. The agency eventually allowed them to work beyond 50 miles away, but still required weekly trips to the office. [This article was provided with permission from Harvard Business School Working Knowledge. The trend might continue. How companies benefit when employees work remotely. The team found that employees with liberal “work from anywhere” arrangements, similar to those offered at Akamai, NASA, and Github, among others, were 4.4 percent more productive than those following a more traditional “work-from-home” policy that gives schedule flexibility but requires workers to live near the office. Retention — 54% of employees say they would change jobs for one that offered them more flexibility, which results in an average of 12% turnover reduction … Since work from home professionals aren’t dishing out for driving expenses and regularly get a good deal on espressos and … The agency eventually allowed them to work beyond 50 miles away, but still required weekly trips to the office. Prithwiraj Choudhury, an associate professor in the Technology and Operations Management Unit at Harvard Business School, and fellow researchers compared the outcomes of flexible work arrangements at the US Patent and Trademark Office (USPTO). While digital technology has made workers more efficient and accessible than ever before, many companies have been slow to let employees work from home regularly, let alone from anywhere at any time. Remote work has been an overwhelming success for both employees and employers. Only when employees work remotely do they fully realize the added value of physical contact.

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