In a candidate-driven job market, the benefit packages offered by employers are key factors in attracting and retaining top talent. Millennials, in particular, are looking for companies that offer more flexibility, independence, and choice. According to ForceBrands’ 2019 Talent Market Report, employers in the CPG industry are taking note of these preferences and adjusting accordingly. For example, the report found that in 2020, 17 percent of employers will begin offering flex-time or work-from-where-you-want as a part of their benefit offerings. And maybe for good reason.
A recent study by Owl Labs, a video conferencing company, found that there are some hidden benefits for companies that offer remote work arrangements for their employees. The study surveyed 1,200 U.S. workers between the ages of 22 and 65 for their 2019 State of Remote Work report and uncovered some surprising statistics.
Full-time remote workers said that they were happy in their jobs — 22 percent more than those who never worked remotely. These employees cited work-life balance, increased productivity, better focus, less stress, and avoiding a commute as the primary benefits of working remotely. In turn, the benefits of working remotely made these employees more loyal to their companies. The study found that remote workers were 13 percent more likely than on-site workers to stay in their jobs for the next five years, and were 43 percent more likely to agree to work longer hours if necessary.
Additionally, the report found that remote workers tend to earn more than their on-site counterparts. Those who worked entirely remote were more than twice as likely to earn more than $100,000. They were also more likely to be higher on the corporate ladder, working at the founder, c-suite, or VP levels in a company.
To learn more about the added benefits of working remotely, read the 2019 State of Remote Work report here.