As the debate over remote versus office work continues to gain momentum, a recent study conducted by small business experts at Bionic has shed light on the significant financial benefits of working from home for Brits.
With the cost of living on the rise and many companies, including Boots and JD Sports, mandating a return to full-time office work, concerns about the financial strain of commuting and office expenses are growing.
The study compared the expenses associated with working remotely versus five days in the office, taking into account various factors such as commuting costs, utilities, and even the price of boiling the kettle during a tea break.
The findings reveal a substantial difference in costs between remote, hybrid, and full-time office work.
According to the study, the average daily cost of working from home amounts to £9.41, totalling £47.07 per week. This includes expenses such as energy bills, WiFi usage, and additional water consumption, resulting in an estimated weekly expenditure of £41.28 on energy alone.
Regional differences
Notably, the research highlights that Brits can save approximately £9.69 per day by working remotely, compared to the average daily commuting cost of £19.10 in the UK. With approximately 252 working days in a year for full-time employees, the transition to full-time remote work could lead to annual savings of up to £2,441.88.
However, the study also identifies regional variations in commuting costs, with cities like Bristol, Cambridge, Brighton, and Birmingham boasting lower commute expenses that may make working from the office more cost-effective for some individuals.
In light of these findings, Les Roberts, a Business Comparison Expert at Bionic, emphasises the importance of adopting a flexible approach to work arrangements, including hybrid models that combine office and remote work. Roberts suggests that hybrid working allows employees to benefit from the advantages of both environments, fostering collaboration and flexibility while mitigating costs for employers.
What does the future look like?
Roberts advises both employers and employees to carefully consider the financial implications of their work arrangements, taking into account overlooked expenses such as pet care and increased utility bills. Ultimately, he emphasises the need to prioritise productivity, happiness, and financial well-being when determining the most suitable work routine for individuals and organisations alike.
In an era marked by evolving work practices and shifting priorities, the study underscores the importance of exploring flexible solutions that optimise both financial savings and employee satisfaction in the modern workplace.
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.
