Early this year 2020, demand in remote work increases than in previous years. Remote work is not only the future of the workforce, but it is also the present. Remote workers such as freelancers, virtual assistants (VAs), and some employees who are forced to work from home continue to work virtually as employers wary between monitoring them remotely or on-site.
One thing is for sure, however, that remote work or virtual wok is here to stay even after COVID-19. We highlight the following surprising remote work statistics you need to know.
- Remote work like freelancing contributes significantly to the economy. (Upwork)
It earned nearly US$1 trillion and contributed about 5% of the Gross Domestic Product (GDP) in the United States' economy in 2018. This is compared to other major industries like the information and communication sector.
It also contributes to a strong workforce market with about only a 19% steady rate until full employment. It indicates that remote workers viewed freelancing and virtual jobs as a long-term career rather than a temporary gig.
In a study conducted by Freelancing in America (FIA), 35% of remote workers choose to have long-term freelance jobs around 57 million in 2019, a 4 million increase from 53 million in 2014.
The global outsourcing market has also registered US$ 92.5 billion revenues in 2019. It includes contract outsourced services, call center jobs, and other remote work. (Statista)
Remote services are a big industry and therefore, make a huge chunk in the overall economic performance of a country.
- A Virtual Assistant (VA) job saves 78% of operating costs every year. (Outsourced Worker)
A virtual assistant is responsible for any cost incurred in providing their services. It can save you a considerable amount of money for office rental, internet and electricity costs, and equipment expenses.
You can hire VA when you need specific services either in per hour or per-project basis. This is compared to getting full-time 8 hours of an employee working just for one or two specific tasks. You don’t have to spend more dollars on training since most VAs are experienced professionals. (Outsourceworkers)
3. More than 5 million employees or 3.6% of the US workforce currently work-at-home half of the time. (Global Workplace Analytics)
About 56% of employees have a job where at least some of what they do can be done remotely. This translates to an increase in employees working frequently at home and office desks are vacant 50-60% of the time.
4. Nearly 75% reduction in driving on telework days. (Global Workplace Analytics)
A half-time telecommuter saves approximately 11 workdays per year in days they would instead spend commuting. Excessive commuters save about three times more than regular telecommuters.
These mean employees save between US$2,500 and US$4,000 per year by working at home half the time. They save a lot due to reduced costs of travel, parking, and food, net of incurred energy expenses, and home food expenses.
"Telework" means the substitution of technology for travel while "telecommuting" more specifically substitution of technology for commuter travel. Telework, if not telecommunicating, entails someone who brings work at home after office for a specific time or number of times temporarily. Telecommuting, on the other hand, considers someone who prefers to work at home permanently rather than driving or commuting to office regularly. Both telework and telecommuting are used interchangeably.
Highlighting few terms instead, some people and companies are shifting from both telework and telecommuting to remote work, distributed work, mobile work, smart working, and shifting work.
5. Over 73% say that they are successful in working from home. (Global Workplace Analytics)
In a recent Global Work-from-Home Survey with about 3,000 respondents, almost 4 out
of 5 individuals say they favored more to work from home than in the office.
They are most productive when they have a better place, and they have the tools, skills, and resources they need at home.
6. 85%of businesses reveal that productivity has increased in their company because of better flexibility. (Flexjobs)
Moreover, 90% of employees say allowing greater flexible work arrangements and schedules would increase employee morale, while 77% say allowing employees to work remotely may lead to reduced operating costs.
7. 70% or higher managers are just as happy with work performance as employees but remote management and collaboration skills should be pointed out greatly.
Remote work benefits employers in minimizing rental costs, reducing staff absenteeism and voluntary turnover, and improving productivity.
8. Remote work has a lower turnover rate compared to a traditional full-time job. Companies that support remote work lost 9% of their employees, compared to 12% in companies that don't support working remotely.
As more companies starting to offer with flexible remote schedule, employee satisfaction and loyalty will increase.
9. 46% of the freelancers confirm freelancing gives flexibility to those unable to work for a traditional employer due to personal reasons. (Upwork)
The challenges traditional jobs won’t be possible for freelancers like caregiving and childcare, health issues and disease, and some physically-challenged or mental health issues. These people are the ones who like to remain in the freelancing workforce. Working remotely empowers them to work despite their situation.
These circumstances include painful back injury, staying home to take care of a child with special needs, during long-term recovery from an accident, or immune disorders that they need to work at home.
10. 44% of remote employees who have unlimited vacation options only grab two or three-week vacation per year. (OWL Labs)
Most companies offer unlimited vacation incentives, but nearly half of all remote employees just opt for a two or three-week vacation a year. Moreover, only 10% are settled only for one week, while 5% are amenable with less than a week. Other 5% more don’t take any vacation time at all.
Many remote workers don’t want to go far away from their computers if they are happy with their job. This is one of the reasons why remote workers are more productive than traditional employees.
11. Remote employees can work healthier at home. Because of a remote setup, remote workers are less likely to contract viruses in a typical workplace. (Flexjobs)
According to Indeed Remote Work Survey, 50% of the remote employees are working from reduced sick days and 56% reduced their absences.
12. 22% of full-time remote employees say they’re happy in their job more than people who never work remotely. (OWL Labs)
Around 72% of remote employees say they are happy with their job. Besides, 55% of on-site workers say they are happy in their job, a 17 percentage point difference compared to full-time remote workers.
Remote employees say they rather stay in their current job for the next 5 years 13% more than on-site workers. If they were no longer allowed to work remotely, 55% of remote workers would be likely to find for another job, and 61% of them would expect additional pay.
Final Take-away
In a survey, OWL Labs asked respondents to share if they shower or bathe before work every morning to know if remote employees have the same morning routine as on-site workers heading to their workplace. They find out that a minimal difference between two groups, signifying that remote work doesn't suit with the pajama-dressed, less-showered stereotype. That’s good news. Whew!
Remote work either virtual assistant support, freelancing, or similar virtual employment is not just a trending industry but it is here to stay. As long as employers believe and trust remote employees to productively work from home, with or without crises, remote workers are willing to support businesses.
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Resources:
https://www.upwork.com/press/economics/freelancing-and-the-economy-in-2019/
https://www.bestofbudgets.com/virtual-assistant-statistics/
https://globalworkplaceanalytics.com/global-work-from-home-experience-survey
https://www.flexjobs.com/blog/post/remote-work-statistics/
https://www.owllabs.com/state-of-remote-work/2019?hs_preview=jWDXIXgj-13385250578
https://globalworkplaceanalytics.com/telecommuting-statistics
https://www.upwork.com/press/2019/03/05/third-annual-future-workforce-report/