In light of rising cost-of-living concerns, a study by small business experts reveals significant financial benefits for Brits opting to work from home rather than returning full-time to office settings.
- Many companies, including major retailers, require employees to return to office work, raising concerns about the associated costs.
- Remote working can result in substantial savings on commuting and daily expenses, amounting to significant yearly savings.
- A study found that, on average, UK individuals save £9.69 daily by working from home, potentially saving £2,441 annually.
- However, in cities with lower commuting costs, such as Bristol and Cambridge, working from the office may still be more economical.
In the context of rising living expenses, numerous companies have mandated the return of employees to full-time office work. However, a recent study highlights the financial burden this shift imposes, prompting many to reconsider their options. The analysis contrasts the expenses of daily office commuting with those of remote work, including electricity, water, and internet costs.
The data reveals that remote work costs approximately £9.41 per day, translating to £47.07 weekly. This includes home office expenses like energy utilization from operating a desktop, and even routine activities such as boiling a kettle. These seemingly minor costs accumulate but remain lesser than the expenses of commuting.
Commuting in the UK averages £19.10 per day. Therefore, those working from home can save roughly £9.69 daily on transportation costs alone. With about 252 working days after accounting for public holidays, this could result in an annual saving of £2,441 for full-time remote workers.
The study also indicates that in certain UK cities, such as Bristol and Cambridge, low commuting costs can make office work more economical than working from home. This nuanced finding suggests the need for contextual consideration of individual circumstances.
Business experts suggest hybrid working as a pragmatic middle ground. Les Roberts from Bionic emphasises that hybrid working offers flexibility and cost-saving benefits while allowing for regular office collaboration. He advises both employers and employees to carefully evaluate costs, including overlooked expenses like pet care and increased home insurance, to determine the most financially viable work arrangement.
The decision between working remotely and commuting depends on personal financial analysis and specific city costs.
