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The Street
The Street
Business
Dan Weil

Working from Home Is Actually Cheaper for You

Those of you working from home may think you’re getting the short end of the stick because of all the home-office expenses that you face.

But you actually have it better financially than those of who have returned to their traditional work quarters, according to a study by Owl Labs, a meeting technology company.

Its survey of 2,300-plus full-time employees showed that 28% think they should be paid more to work remotely. But workers spend about twice as much money working at the office ($863 per month) compared to working remotely ($432 per month), the report said.

The top costs for in-office workers are commuting ($15.11 per day), lunch ($14.25 per day), and breakfast/coffee ($8.46 per day). Those who need pet care, such as dog-walking, shell out $16.39 a day.

While 28% of workers think they should be paid more for toiling remotely, only 14% of workers believe they should be paid more for office work. And 57% think they should be paid the same regardless of where they work.

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Free Lunch

Nonetheless, “companies that want to bring workers back to the office this fall might try providing a stipend, free lunch, and pre-tax commuter benefits to help offset costs,” the report said. Employers also might consider allowing pets in the office to reduce pet-care costs.

Workers see benefits both to working at home and in the office, according to the study. Among the employees surveyed, 57% said working independently in a remote location is more productive, while only 30% prefer doing solo work in the office.

As for creativity, 51% of workers think more creatively when remote, compared to 30% who prefer creative thinking in the office.

A total of 49% of workers focus better in a remote location, while 39% find focusing easier at the office. A total of 49% also can meet deadlines better remotely, compared to 31% who do better in the office.

Collaboration at the Office

It’s a different story for collaborative work, however. A total of 48% of workers collaborate more productively at the office, compared to 24% who see remote collaboration as better.

A total of 60% of workers like meeting new people in the office, while 17% prefer connecting remotely. A total of 51% of workers think team meetings are more productive at the office, while 25% say remote meetings are better.

When it comes to brainstorming and innovating, 39% of workers say they’re more productive at the office, while 37% prefer remote. But looking at learning, 43% of workers learn best when remote, while 39% prefer to learn in the office.

So maybe splitting time between the home office and the out-of-home office makes sense.

“When it comes to work environments, there’s no one-size-fits-all option that satisfies all employees,” said Frank Weishaupt, chief executive of Owl Labs. That’s why “hybrid work is the future, and this may look very different from company to company.”

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