How much can be saved with flexible/remote work?

Peter du ToitI'm the founder of FutureWork IQ where I spend my time assisting businesses to design digital workplaces or “offices in the cloud.” These environments enable companies to allow flexible and remote working for their teams. I also teach the digital literacy, fluency, communication and collaboration skills needed to work in these modern technology-rich workplaces.

If more executives understood how much money can be saved by activating flexible/remote working in their organizations there would be greater urgency in developing digital workplaces that can facilitate this modern way of working.

Smart companies are catching on fast.

In this piece by Dave Nevogt entitled Why Remote Work Beats the Office Every Time he observes:

“Remote companies save a ton of money on overhead because there’s no physical office. For Hubstaff, I estimate working remotely saves us over $100K per year in leasing fees, in-house IT, utilities, and other expenses. There are bigger, better examples of cost-savings, though. According to Forbes, Aetna was able to shed 2.7 million square feet of office space and save $78 million with remote workers. American Express reported annual savings of $10-15 million thanks to its remote operations.”