How Much Could Telework Save Your Company?LOS ANGELES-President Obama signed the Telework Enhancement Act last December. His goal: to pave the way for more than 90 percent of government workers to perform their duties by teleworking.
Now, a new study has revealed the potential impact on California if Gov. Brown signed similar legislation for state workers. According to the Telework Research Network, if state employees in Los Angeles, Sacramento, San Francisco and other California cities worked from home just two days a week the state could save $1.5 billion a year. That equals $170 million in real estate costs alone.
There are plenty of examples in the corporate world, too. AT&T’s teleworking program has helped the company cut its yearly real estate costs by $30 million. Deloitte LLP saved $30 million in 2008 after redesigning facilities to accommodate mobile workers who don't need permanent desks. IBM cut its real estate costs by $50 million a year.
Beyond real estate, telework programs save companies in supplies, energy expenses, IT costs, and office furniture. Teleworking also reduces absenteeism and increases employee productivity and loyalty. Sun Microsystems estimates they saved over a $1 billion over a three-year period by instituting an aggressive telework program that achieved a 56 percent participation rate amongst its workers.
Let’s look at a few more examples of how virtual office technologies can help companies slash budgets. Cisco saves approximately $277 million each year in time and productivity costs. Nortel determined it would make up the entire cost to outfit and equip a teleworker in the first year if absenteeism was reduced by three and a half days. The examples go on and on.
What about your company? Whether you are a solo entrepreneur in Chicago, a small- to mid-sized firm in New York, or a large company in Los Angeles, you can save money teleworking from a virtual office. Virtual office solutions can enable the cost and productivity savings the Telework Research Network is reporting. The key is to choose a provider that offers reliable virtual office solutions and that can scale up services as your operation grows.
Check out this YouTube video on telework: