The teleworking guru Nick Bloomeconomist at the University of Stanford and brain of a research group on remote work, has concluded in a study published in the journal Nature that teleworking reduces the chances of workers leaving the company, and has no impact on possible promotions.
As explained in the magazine Fortunein recent times the bosses They have redoubled their demands for a return to the office. Many have increased their spending in the workplace space and threatened to tie pay and career advancement to in-person attendance. Bloom’s study, however, shows that those who do this may be left with fewer workers.
The study confirms that Working two days from home improves job satisfaction and reduces turnover in the company compared to those who work in the office five days a week.
The report divided more than 1,600 workers from trip.comone of the travel agencies on-line largest in the world, and followed them for two years. One group worked full time from the office and the other only had to go three days. In just six months, the pool of people leaving the company was reduced by 33% for those with the most flexibility.
What were the reasons? According to the research, those who worked hybrid said they saved time and commuting costs, as many do not live close to the office.
Hybrid working helped retain non-managerial employees who couldn’t afford to live close to the office, and saved the company money. The study concludes that each resignation cost the company about $20,000 in hiring and training. Reducing attrition by 33% would save the company millions of dollars. Knowing this data, Trip.com extended the hybrid policy to all employees in all divisions with immediate effect.
Productivity did not suffer either
Leaders bent on getting workers back into the office often cite erosion of culture or productivity in the workplace. In fact, study leaders predicted that hybrid work would reduce productivity by 2.6%, but it didn’t.
The study concludes that working from home, at least two days a week, had no measurable impact on performance, productivity or innovation.
Managers realized this and changed their minds about hybrid work after participating in the study: they ultimately believed that flexible arrangements with workers could improve productivity by 1%.
Perhaps this explains why, even after two years, the group working hybridly had not experienced negative changes in performance evaluations or promotion rates.
