Businesses that permit remote work tend to be more financially successful

Businesses that permit remote work tend to be more financially successful

Businesses switched to a work-from-home arrangement at the height of the Covid-19 outbreak, and we all assumed that this would become the standard moving forward. Numerous studies demonstrate that workers prefer to work from home since it seems more practical and saves money and commuting time. But as soon as things were getting back to normal, a lot of businesses started requiring their staff to work from offices. And as a result, a large number of workers have also resigned.

According to a recent poll, there is a clear correlation between an organization’s income and its workers’ ability to work remotely. According to the poll, which was led together by Boston Consulting Group, businesses with flexible work policies grow their income at a faster pace than those without. The results of this new study indicate that businesses who are prepared to accept remote labor may have a competitive edge, even though the discussion around remote work may last for some time.

Companies allowing work from home are more profitable

Companies that permit remote work have seen revenue growth four times quicker than those that have stricter office attendance policies, according to a Bloomberg article based on a three-year investigation co-led by Boston Consulting Group.

According to the poll, which examined data from 554 public businesses, organizations that offer complete flexibility to their workers’ work locations saw a 21% boost in revenue, adjusted for industry, between 2020 and 2022. However, throughout the same period, businesses with wholly onsite or hybrid working structures only saw a 5% increase in income.

Companies from 20 different industries, including technology and insurance, were involved in the survey, which was carried out by flex-work adviser Scoop Technologies Inc. and Boston Consulting Group. To ensure that the results were not biased by employers in higher-performing areas, revenue growth was adjusted against typical industry growth rates.

Amazon employee who quit his job instead of working from office

A few days ago, a decision by an Amazon employee to resign from his position rather than go back to the workplace made headlines. Additionally, the employee sold his $203,000 in equities (about Rs 1.6 crore). The former employee of Amazon detailed his experience and discussed how, despite accepting a significant wage drop, he is happy in a post he wrote for Business Insider.

Based in New York, the former Amazonian claimed that he was requested to start working from Seattle on June 1. Nevertheless, he had recently purchased his “dream property” with his spouse, and he had no desire to relocate across the nation in order to maintain his employment. He also mentioned that his position was initially intended to be distant.

In the end, he resigned from his position after not hearing back regarding a relocation package. The ex-Amazonian is currently employed by a company with another former Amazonian. He went on to say that while the basic pay at his new position is around the same as it was at his old one, they clearly can’t compete with Amazon’s stock options.

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