News Releases

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2012) - BMO Bank of Montreal today released the results of a Canadian business poll that revealed one-third (31 per cent) of companies are enabling their employees to telecommute - work remotely from outside the office - as a way to increase productivity and reduce expenses.

The report shows that 11 per cent of employees at small businesses (those with fewer than 50 employees) telecommute, compared to 6 per cent at larger businesses. Furthermore, half of small business telecommuters spend at least 80 per cent of the work week outside the office.

"For small businesses being flexible and innovative can extend well beyond the products and services they offer. Telecommuting can offer some key advantages to both employees and employers," says Joe Collura, Small Business Area Manager, BMO Bank of Montreal. "Flexible work arrangements help maintain work-life balance for employees, improve productivity, and strengthen the connection between a business and its customers by increasing the time employees spend offsite and in face-to-face customer conversations."

Regionally, the report found that Ontario businesses have the greatest percentage of companies with employees who telecommute (37 per cent), while Quebec has the fewest (16 per cent).

The BMO Small Business Survey was conducted by Pollara Strategic Insights between August 13 and September 5, using a sample of 500 Canadian business owners. Results carry a margin of error of ±4.4 per cent, 19 times out of 20.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at July 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.