Recently, Alphabet Inc., the parent company of Google, announced that it has achieved significant cost savings by allowing its employees to work from home. According to the most recent financial report, the company has reduced its expenditure on travel, marketing, and entertainment by $268 million compared to the previous quarter and a total of $1 billion annually.
Due to the global health crisis, a number of prominent IT companies have provided their employees with the choice to work remotely on a permanent basis. In July 2020, Google made headlines when it declared that it would give its staff the ability to work remotely until the middle of 2021, a full year longer than originally anticipated. Subsequently, in September 2020, the corporation announced that it was creating a “hybrid” form of employment.
Savings at Google were enough to cancel out expenses
The cost savings of over $1 billion per annum resulting from remote working has enabled Google to make significant investments in the growth of the business. The company asserted that the cost savings enabled them to recruit thousands of additional staff without expanding their expenditure.
Leveraging its previous achievements at a distance
In light of its successes with remote employees, Google is exploring the potential of a hybrid work model. Approximately 20% of its workforce will now be eligible for permanent remote employment, while an additional 60% of employees will be expected to be in the office a few days a week. The remaining 20% will be on-site. Furthermore, CEO Sundar Pichai has sent out an email to staff members informing them of the company’s intention to create numerous new remote job opportunities and all-remote sub-teams.
Learn more about working from home.
