Working from home can significantly benefit employers by cutting down costs associated with office space, technology and communication. But employees can also benefit from remote working by seeing their expenses reduced.
In July 2020 the Office of National Statistics reported that the number of people working from home had risen by nearly a quarter of a million in over a decade. That figure has, of course, drastically increased during COVID. However, one of the major positives of remote working is cost-savings.
Here are our top 3 areas where you can cut costs.
Commuting every day can be costly. Of course, this varies on how far you travel, and by which means. Annual travel passes chip a serious chunk out of your salary, not to mention fares for tubes, buses, even parking. It all adds up. Of course, if you are only commuting onto the office a few days a week, then adjusting your travel pass to reduce wastage is recommended.
On the days where you work from home, you have virtually no travel costs. Well, aside perhaps a drive to a local café for a change of scenery.
Food and drink expenses
Your spend on food is significantly lowered when you’re working from home. If you plan well, you can grab a bite to eat from the fridge with minimal effort, without spending more than your grocery shop. It may mean setting aside some time to make up some batch meals or buying convenience food in your shop to grab when you’re busy, but you can undoubtedly make healthier choices and cut down on your costs.
Similarly, you can cut down on the takeaway coffees from high street chains and buy yourself a coffee machine to have on the go. Cheaper, closer and far more convenient.
We are in a world where we no longer need to be spending extortionate rates on telephone calls. Most businesses now operate digitally with apps like Zoom, Teams and Skype to stay connected and conduct meetings. Granted this isn’t necessarily saving you money during work hours because this is a business cost covered by your employer, but it does save you from rinsing your data during your commutes.
The journeys to and from work are often a time when people will kick back on their commute and scroll through social media, watching videos, reading the news or chatting to friends. But it eats through your data allowance on 4G. Working from home means being connected to your WiFi and essentially not racking up more communication costs.
For employers and employees alike, working from home provides a great solution to reduce overheads which means a happier business and happier staff.