Working from home saves Australians on average $10,000 a year, according to new study.
Working from home saved 80% of employees money, according to a global research by Cisco of 28,000 full-time workers, including 1042 Australians.
According to the poll, workers saved an average of $216 per week and raised their savings by 15.5 percent by decreasing commute, food, gasoline, and entertainment expenditures.
As Australians grapple with rising living costs and stagnant income growth, over three-quarters of workers indicated they would consider changing employment if they could save money by working remotely.
WFH rules, according to Cisco Australia and New Zealand vice president Ben Dawson, will become a major role in people’s decisions about whether or not to work for a firm.
“If it’s going to cost you $10,000 to join an organisation that expects you to be in the office five days a week, that’s a real factor (in deciding where to work). If people feel happier, healthier and financially better off, they’re going to expect that and it is going to be a source of competitive differentiation when we go to recruit people. I think flexibility has gone from being a unique aspect of some employers to being table stakes.”Ben Dawson, Vice President, Cisco Australia and New Zealand
But WFH didn’t simply make individuals wealthy; two-thirds of respondents said their physical health had improved as a result of having more time to exercise.
When it comes to managers asking employees to return to work, there has been a growing resistance.
A government poster encouraging Australians to abandon their work-from-home arrangements and return to the workplace was condemned as “tone deaf” earlier this month.
Cisco’s research cautioned employees that pushing employees back into the office, as world’s wealthiest man Elon Musk recently asked of Tesla’s senior executives, would result in firms being unable to recruit the finest people.
“Leaders must acknowledge that a point of no return has been reached and there must be deeper and more concerted investments in culture, communications, technology, workplace policies, and infrastructure to thrive in the new hybrid working future,” Cisco’s report said.
Australian employees were outraged earlier this year when they were compelled to return to work, claiming that the rising cost of living, particularly increasing gas prices and commute costs, would put them in a worse financial position.
According to a study conducted by the Finance Sector Union, 75% of members were concerned about the expense and time of travelling if they were forced to return to work after saving money on travel by working from home during the pandemic.
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