New data from Discovery Bank shows South Africans can save up to R2,900 per month if they consider a work-from-home model. <\/p>\n\n\n\n
Discovery Bank and Visa released their SpendTrend24 report, unpacking what South Africans spend their money on.<\/p>\n\n\n\n
As part of the report, Discovery Insure data revealed that clients travelled more post-pandemic. <\/p>\n\n\n\n
In 2023, they drove more compared to 2022, but with a twist: despite making 10% fewer trips, they\u2019re covering 40% more distance on average each month.<\/p>\n\n\n\n
“This trend could be attributed to lifestyle changes due to the increased return to the office movement last year in South Africa<\/strong>,” said Discovery.<\/p>\n\n\n\n This trend has been recently highlighted in several reports. KPMG\u2019s Southern African 2023 CEO Outlook found that 72% of Southern African CEOs support a return to in-person\/onsite work within the next three years.<\/p>\n\n\n\n Additionally, a survey by OfferZen showed that between 2023 and 2024, more companies have returned to office-based work policies \u2013 though these remain the minority.<\/p>\n\n\n\n Office-based work policies rose from 7.9% in 2023 to 9.6% in 2024 among the employees surveyed, while remote work still accounts for 40.8%. <\/p>\n\n\n\n The group added that remote work options have shot up among the thousands of employees surveyed as the primary non-money-related benefit they seek in jobs.<\/p>\n\n\n\n According to Discovery Bank’s data, Discovery Insure clients drive, on average, approximately 1,690km every month<\/strong> \u2013 commuting at least three days a week.<\/p>\n\n\n\n Considering this, we looked at how much petrol the average South African would save in April 2024 if they switched to a work-from-home position, using the country\u2019s best-selling cars right now. <\/p>\n\n\n\n As of Wednesday (3 April), South African motorists are paying R25.12 per litre of 95-octane unleaded petrol, while diesel users are paying R22.60 per litre for 0.005% (wholesale) inland. <\/p>\n\n\n\n The table below shows the potential savings on offer if one didn’t have to commute the average 1,690km every month by working from home. <\/p>\n\n\n\n Given the time and petrol costs saved on the commute – and in light of the current financial consumer climate – this goes some way in explaining why employees have been pushing back against the drive to get workers back in the office.<\/p>\n\n\n\n Another survey by consultancy PwC showed at least a third of younger (aka Gen Z) employees won\u2019t even consider a position if it does not have a remote work option. OfferZen’s survey found that more than half of respondents indicated that they would leave their jobs if their bosses forced them to return to the office.<\/p>\n\n\n\n OfferZen noted that the real \u2018winner\u2019 has been a hybrid model, which rose to 49.6% (vs 36% in 2023) to be the dominating work policy at present \u2013 and this still offers notable savings in petrol. <\/p>\n\n\n\n Discovery Insures average distance driven, broken down to an average per day, works out to a daily commute of 76.8km over a 22-day month. <\/p>\n\n\n\n Considering that a person working on a hybrid schedule drives around three days a week to the office, they could still save up to R1,314 compared to the fully remote savings of R2,890 if they switch from a full-time in-office position. <\/p>\n\n\n\n These and other benefits are making employees rethink their jobs, and PwC said that their views on work have to change.<\/p>\n\n\n\n “Companies need to pay attention to the needs of their employees and what they want from a job,” it said. <\/p>\n\n\n\n \u201cOnly the most person-centric and purpose-driven organisations will attract, hire, grow and retain the skills and talent needed to go from \u2018survive\u2019 to \u2018thrive\u2019 in the future of work,\u201d it added.<\/p>\n\n\n\nType<\/th> Car<\/th> Cons. per 100km<\/th> Cost per 100km<\/th> Saving every month<\/th><\/tr><\/thead> Crossover<\/td> Toyota Corolla Cross<\/td> 6.8L<\/td> R171<\/td> R2 890<\/mark><\/td><\/tr> SUV<\/td> Toyota Fortuner<\/td> 7.2L*<\/td> R163<\/td> R2 755<\/mark><\/td><\/tr> Bakkie<\/td> Toyota Hilux<\/td> 7.1L*<\/td> R160<\/td> R2 704<\/mark><\/td><\/tr> Hatchback<\/td> VW Polo Vivo<\/td> 5.7L<\/td> R143<\/td> R2 415<\/mark><\/td><\/tr> Sedan<\/td> VW Polo Sudan<\/td> 6.5L<\/td> R163<\/td> R2 755<\/mark><\/td><\/tr><\/tbody><\/table><\/div>
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