No, this is not deja-vu. We wrote an article on the Global State of Work a few weeks ago — if you want to read that, here is the link. However, last week, Owl Labs released their newest report regarding remote work and I wanted to provide an update based on the new data. Just for a quick summary (tl;dr): people like working from home and they are more likely to stay with a company, even if it costs them a cut in salary, if they can work remotely.
The 2019 Equal Pay for Equal Work study demonstrated that the wage gap between women and men does in fact still exist, remote or otherwise. For instance, this study found that “men who work remotely full-time are 25% more likely to earn over $100,000 than women who work remotely full-time.” It is important to note that working remotely does not affect the gap, for the better or for the worse.
Happiness soars for those of us whom are lucky enough to work from home in our PJs — remote workers are 29% happier than those of us who work in an office. As with 2018, the number one reason to work remotely is a better work balance life. 78% of employees claim less stress and better productivity as benefits of remote work. In fact, this study corroborates other research we have reported on in the past (if you need a refresher on how remote work improves productivity due to the reciprocation principle, check out our earlier article linked here), stating that remote workers work longer because they enjoy their work.
The new data surrounding retention is quite overwhelming: Remote workers say they are likely to stay in their current job for the next five years 13% more than on-site workers, more than 60% of remote workers would expect additional compensation to stop working remotely and 55% of remote workers would be likely to look for another job if they were no longer allowed to work remotely.
Perhaps the most interesting finding of them all is that 38% of remote workers and 15% of remote managers received no training on how to work remotely (!!!). This conclusion alone is the reason AGL was began in the first place: to bring top notch training to hard working remote employees.