New Citrix Online Report Finds Virtual Workstyles Could Save U.S. Business More Than $400 Billion a Year
SANTA BARBARA, Calif. – May 18, 2010 – A report commissioned by Citrix Online, a division of Citrix Systems, (NASDAQ:CTXS), found that virtual work policies could save U.S. businesses over $400 billion per year in increased productivity, lower office costs, and reduced absenteeism and staff turnover. Entitled “Workshifting Benefits: The Bottom Line,” the report compiled by the Telework Research Network (TRN), quantifies the many benefits in dollars and cents. In addition to the cost savings for business, it also cites the benefits for individuals, the environment and the nation as a whole.
TRN’s Savings Calculator is based on data that shows 40% of American workers could work from home at least some of the time1 and of those, 79% would choose to if given the opportunity2. If those people worked from home just half of the time:
- A company of 100 people could gain approx. $576,000 per year and the U.S. economy as a whole would gain $235 billion in increased productivity.
- U.S. business would save an additional $124 billion in office costs, $46 billion in reduced absenteeism and $31 billion in reduced employee turnover.
- Each employee could save an average of $362 on gas per year, plus $3,840 on related expenses such as parking, food and clothing.
- Individuals could recoup approx. 2 weeks of free time per year otherwise spent commuting.
- Employee gas savings would reduce U.S. greenhouse gas emissions by about 53 million metric tons – the equivalent of taking over 9.6 million cars off the road – and it would save $23 billion a year in imported oil, which equates to approx. 288 million barrels of oil.
- U.S. taxpayers could save $2 billion in highway maintenance costs.
- As a nation, the U.S. would save $11 billion in traffic accident costs.
Bernardo de Albergaria, vice president, general manager of global marketing and eCommerce of Citrix Online, said: “Those of us lucky enough to work at organizations that support flexible working already understand the benefits: reduced stress, better work-life balance, increased motivation, healthier lifestyles…I could go on. It’s no surprise this has become a priority of the Obama administration. But despite these benefits, fewer than 2% of U.S. employees practice flexible working, partly due to fears of ‘out of sight, out of mind.’ That’s why we set out to prove that workshifting practices benefit businesses, employees and the nation as a whole.”
Kate Lister, TRN’s principal and the report’s author, added: “By any measure, workshifting makes sense for the U.S. It helps Baby Boomers stay in the workforce longer if they choose to, and appeals to Millennials’ desire for flexibility and independence. It also provides more job opportunities for disabled workers, rural residents, parents and caregivers. And then there are the environmental benefits: just by workshifting, we could achieve 27% of the President’s goal of reducing greenhouse gas emissions by 2020.”
- A full version of the report is available at www.workshifting.com
- Infographic link depicting statistics from workshifting report: https://www.workshifting.com/2010/05/the-dollars-and-sense-of-workshifting.html
- Twitter: @workshifting
- Mark Templeton, President and CEO of Citrix Systems, demonstrated his vision for virtual workstyles, commenting on how Citrix virtualization and cloud computing technology can be used to empower workshifting, in his recent keynote address at Citrix Synergy 2010 https://www.citrix.com/tv/#videos/2136
- Citrix System’s recently announced Innovation Award winner for 2010 also illustrates how customers are using workshifting to drive business transformation: https://web.citrix.com/synergy/innovationaward