- Employees have been more likely to seek remote and hybrid work opportunities
- While employees expect the arrangement to reduce their expenses due to a decrease in commuting costs, other expenses will increase
- Employers can help prepare workers for such costs, and may offer to offset some expenses
Summary by Dirk Langeveld
The ability to work remotely for part or all of the work week has become a more valuable asset for employees. The arrangement can allow better flexibility to balance one’s work with personal needs, and can also lead to improved productivity.
Workers also anticipate that remote work can result in considerable cost savings, as they’ll spend less on gasoline, tolls, and other commuting expenses. However, employers offering remote work option should also make sure employees are aware of other costs that might go up as a result of this arrangement.
- Remote work can be associated with food savings, as employees are less likely to dine out for lunch, but some expenses can go up if an employer has traditionally provided coffee, snacks, or meals
- While workers going to an office adjust their thermostat while they’re out of the home to reduce energy use, remote workers will likely need to maintain a comfortable temperature – with a resultant increase in utility bills
- Employees may want to review their credit cards to see if their rewards still make sense; for example, a card offering gas rewards may no longer be useful if the employee is not driving every workday
- Employers should determine what compensation they might offer for certain remote work expenses, such as the purchase of office equipment
