Research: Homeworking saves time, money and increases productivity
Jan 11, 2023
The benefits people enjoy from working remotely and flexibly are significant and far-reaching. These range from spending extra time with family, health benefits such as getting more exercise and sleep, and financial benefits like saving and helping to cope with the cost-of-living crisis.
Global hiring firm Deel surveyed almost 2,000 UK adults who either work remotely or have a flexible working arrangement, to understand how emerging work trends are impacting the modern workforce, uncovering the wide-ranging benefits - personal, financial and professional. Key results:
• 92% of employees agree remote working saves time.
• Of these a third (34%) of respondents are saving 4-5 hours per week, a further one-in-five (19%) are saving 6-8 hours, and one-in-twenty save a staggering 11-15 hours every week.
• ‘No longer commuting’ is the reason given for saving the most time in their working week (chosen by 80% of respondents), followed by food prep (62%), getting dressed for work (52%) and meetings (46%)
• 85% of respondents say working remotely is saving money
• 21% say the savings are helping to cope with the cost-of-living crisis and inflation
• 82% of people say remote work positively impacts their work-life balance
• 86% are now more comfortable at work.
These new findings demonstrate the enormous value of flexible working patterns to workers. From an improved work-life balance, more time to sleep, exercise, and spend time with family, increased financial security, and boosted productivity.
MONEY SAVED HELPS WITH MORTGAGE, RENT AND CHILDCARE
The research finds that the money saved is being used to adapt to the increased cost of living. 46% said they were putting the money straight into savings, while 27% said it was helping with housing costs (e.g. mortgage and rent payments). One in five (21%) said they were using the savings to cope with increased prices due to inflation, and 14% said they were using it to pay off debt.
The current economic climate is certainly weighing on workers’ minds, as the vast majority (83%) of respondents say the state of the economy makes it more likely they will continue to work remotely.
When asked where they were saving money, a third (33%) said that the ability to eat at home rather than spending money on food near the office is helping them save. A further 53% said petrol, while just over a third also cited public transport (35%). One in eight (13%) called out childcare as an area where they are saving, illustrating the financial benefits that flexible working patterns afford to parents.
MORE TIME TO ORGANISE HOME AND FINANCES
The research from Deel also finds that the money saved is being used to adapt to the increased cost of living. 46% said they were putting the money straight into savings, while 27% said it was helping with housing costs (e.g. mortgage and rent payments). One in five (21%) said they were using the savings to cope with increased prices due to inflation, and 14% said they were using it to pay off debt. The current economic climate is certainly weighing on workers’ minds, as the vast majority (83%) of respondents say the state of the economy makes it more likely they will continue to work remotely.
As the cost-of-living crisis bites, remote working supports workers’ financial security with 85% said that working remotely has saved them money. As a result, two thirds (66%) say remote working is making them feel more financially secure.
When asked about how that time is being spent, exercise, household chores and sleep came out on top, all chosen by 37% of respondents. Time spent with family members followed, at 34%, with a quarter (26%) also pointing to being able to devote the time to childcare. 17% are spending the time on their hobbies, 13% are putting it towards personal development and 11% chose professional development.
TIME FOR SLEEP, EXERCISE AND FAMILY
Matt Monette, UK&I Country Lead at Deel: "There is no one-size-fits-all approach to work patterns. Some will prefer fully remote and can make that work for them and their employer, while others embrace the hybrid approach.
"To employers who remain reluctant to move away from full-time office roles, this research is stark proof of the financial benefits more flexible working patterns can bring to workforces, alongside the wider positive impact on wellbeing and productivity.”
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