A new study concludes that California could save $1.5 billion annually if employees with jobs that could be done from home would telework two days per week.
Most of the savings would come from increased productivity, lower absenteeism and reduced turnover, says the Telework Research Network, that describes itself as a consulting firm "that specializes in modeling the economic, societal, and environmental benefits of telework and workplace flexibility." Teleworking also could save the state several million dollars in real estate expenses.
The Southern California-based company announced the telework savings estimates in advance of its participation in The Work Anywhere Symposium on Sept. 22 at California State University, Sacramento.
The company's estimate of twice-weekly telework benefits to California government, its employees and the state's environment include:
• $800 million in increased productivity
• $170 million in real estate savings
• $500 million in absenteeism and turnover costs
• 400,000 barrels of oil valued at $33 million
• 75,000 tons of greenhouse gases--the equivalent of taking almost 14,000 vehicles permanently off the road
• 163 million vehicle miles and the related road maintenance costs
• Improved continuity of operations in the event of a disaster
This blog post has more details about the study, which won't be released until next month.
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