We believe the future of work is remote work. And, we’re not the only ones.
According to Stanford Graduate School of Business professor Nicholas Bloom, working from home is a future-looking technology. Bloom tested his hypothesis with a two-year study of a large travel agency in China, which has upwards of 20,000 employees.
Half of the workers worked from home and only came into the office once per week. The other half worked full-time in the office—no work from home days.
- Overall work performance improved 13% in the work-from-home group.
People in the work-from-home group worked their entire shift, wasting less time.
Concentration levels were higher in the work-from-home group, most likely due to fewer environmental distractions.
Resignation rates dropped by 50% when employees were given the option to work from home.
The company reported a profit increase of $2,000 annually for each employee working from home.
What does this experiment tell us? It’s time companies re-evaluate why they are still using traditional co-located models, complete with cushy central offices. Negative stereotypes of working from home do not accurately represent remote work as a whole. And, new management styles will be necessary for companies seeking to make the shift from co-located to hybrid or fully distributed models.
Have you come across other studies about remote work? We’d love to give them a read. Tweet us @yonder_io with the hashtag #remoteworkstudy!