It’s no surprise that one of the chief reasons employees embrace telework relates to savings.

Without a commute, they save on both time and gas as well as wardrobe and food (casual clothes don’t need to be dry cleaned and eating lunch out isn’t as tempting).

Employers save big, too, by offering a telework option and often those savings are substantial in the long run. The research firm Global Workplace Analytics found that companies can save up to $11,000 for every employee working two or three days remotely per week.

Is remote work right for your company?

First, determine your startup costs, which will vary. Some considerations, according to Telework!VA, a free consulting service for employers, managers and employees in the Commonwealth that offers resources and tips for companies of any size to create and maintain a telework program.

• -Do you need to issue electronic/IT equipment — a printer, fax machine, cell phone, webcam, scanner or other technology so your employees can work from home?
• -What security precautions should be put in place in terms of email, software and the server used?
• -Do you need to offer training?
• -You want to ensure that telework is seamless for all involved. Do you need to invest in labor to configure any new systems associated with program set-up?
• -Will your human resources department need to establish a remote work policy?

Even if telework means more of an investment at the front end, the long term savings are often worth it. According to Global Workplace Analytics, almost 6 out of 10 employers identify cost savings as a major benefit of telecommuting.

Employers save on:

• -Rent paid to occupy an office or the increased rent that would accompany their need for more space due to growth
• -Overhead costs that relate to utilities, cleaning services and food
• -Employee turnover. Finding good employees and retaining them has been a challenge during the COVID-19 pandemic. Offering a work-from-home option either entirely or using a hybrid model has become an enticing benefit for employees.
• -Several studies indicate that employees that work from home are more productive, which ultimately impacts an employer’s bottom line. Morale often improves when employees feel they are entrusted to do a job without being micromanaged. That also leads to increased productivity.
• -Flexible scheduling means your employees are less likely to be absent due to minor errands that previously would have required a day off or due to illness.

If you’re ready to consider establishing a remote workplace, you’ll be joining a growing trend that is only expected to continue in 2023. A recent AT&T study found the hybrid work model is expected to grow from 42% in 2021 to 81% in 2024.

Don’t you owe it to yourself to see how working from home can benefit your company?