We all know the saying “it takes money to make money. “
New data shows that not is that true, but it applies to many workers across the nation and it’s significantly setting them back.
A new survey from video conferencing solutions brand Owl Labs found that workers who go into the office at least part-time spent an average of $863 per month in work-related expenses. Conversely, those in full-time remote positions spent significantly less, namely $423 per month less.
That’s a difference of nearly $5,300/year.
“Throughout the past two years, many employers and workers have adopted and employed a hybrid work model,” Frank Weishaupt, CEO of Owl Labs, said in a news release. “However, hybrid work has continued to evolve and new issues and concerns will surface as the world changes.”
Employers have continued to urge employees to return to the office after a large number worked from home due to COVID-19 safety guidelines.
In his March State Of The Union address, President Biden said called workers back to offices, saying it’s time to “fill our great downtowns again.””We can end the shutdown of schools and businesses,” the president said. “We have the tools we need.”
Following shelter-in-place mandate lifts, there’s been a struggle to lure workers back in-office, and with good reason. Rising gas costs, food prices and marked-up clothing are costing workers most of their newly earned paychecks, the survey points out.
Owl Labs said the top daily expenses for hybrid workers were commuting ($15.11), lunch ($14.25), dinner ($10.98) and breakfast and coffee ($8.46). Pet care, such as dog walking, costs some respondents an average of $16.39 per day. The outsized costs are one reason employees seem to prefer remote work. Productivity is another justification for them wanting to stay home.
Owl Labs found that respondents (58%) said working remotely was also simply good for productivity. Nearly half (49%) said their ability to focus is better when working remotely, while 51% said they were more creative and 49% said they can meet deadlines better.
More information about the survey can be found here.