Does Your Company Have a WFH Equipment Return Policy? Here’s Why You Need One In Place

Once upon a time, work was done (mostly) from the office, and in-person team activities were the norm. But the COVID-19 pandemic turned everything on its head, creating a shift toward WFH (work from home). In fact, as of 2022, only two in 10 people work exclusively on site. Remote work is here to stay, and it has ushered in a new normal with both benefits and challenges for the workers and the organizations that employ them.

On one hand, remote work allows businesses to save on overhead costs by paying for less, if any, office space. It also lets employees save time and money on their commutes, plus other necessities like child or pet care. However, remote work presents a challenge for organizations that provide equipment to employees. Businesses have had to develop a WFH equipment return policy where they didn’t have one before, and the intricacies of snail mail have proven tough to navigate. 

Let’s dig into some WFH statistics that showcase the rise of this trend and how it impacts your policies around company owned equipment.

Overview of WFH Statistics

• Although 44% of companies ban remote work, 16% of businesses globally are fully remote.
• More than half (57%) of employees say they prefer working from home to working from the office. 
• One-third of employees would find another job if their WFH privileges were revoked.
• Healthcare, technology and financial services lead the pack in percentage of employees who work remotely.

A Look at the Benefits of WFH

• 30% of employees surveyed say they feel more engaged and productive when working from home.
• 63% of WFH employees are caretakers for a loved one or a dependent and can be more available for them.
• Remote work eliminates 600,000 cars’ worth of emissions annually.
• Organizations see an additional $2,000 of profit per remote employee each year.

Work from Home Challenges to Know

• Nearly one-third (30%) of employees miss out on regular trainings from their employers.
• 54% of I.T. professionals agree that remote employees are a greater security risk than onsite employees.
• Virtual employees are 16% less likely to feel involved in goal setting with their managers.
• Only 40% of company owned equipment is returned when employers send a box and return shipping label.
• Terminated employees are the cause of lost or damaged equipment, according to 30% of companies surveyed. 

Why You Need a WFH Equipment Return Policy

The numbers don’t lie — the modern workforce is remote, and they need to be furnished with company owned equipment to do their jobs. Although there are clear upsides to having a dispersed staff, it can be difficult to handle equipment returns when you don’t have the right system in place.

Pair an effective WFH equipment return policy with the technology that makes returning company owned equipment a breeze so you can easily handle offboarding, upgrades, and employment terminations. ReadyReturns is the software solution that reduces stress and streamlines your processes to get your business up to speed and prepare for a remote-first future.