Before the pandemic dramatically changed the workforce, Twitter CEO Jack Dorsey in a 2019 earnings call expressed his dissatisfaction with the company’s concentration in San Francisco and embraced the idea of working from home. Fast forward to May of 2020 and Twitter’s seemingly temporary workforce shift to a remote setting became more permanent. Twitter announced that employees could work from home forever if they chose to and highlighted the emerging concept of hybrid work.
Other major tech companies, like Salesforce and Spotify, have recently declared a shift to hybrid work once offices start opening up, giving employees the flexibility to work in the office, remotely, or a combination. It is an eventuality that the world will return to some semblance of normal; however, returning to the dated notion of working in an office every day may do more harm than good for your company. Let’s understand how hybrid work can help revolutionize your company’s experience.
1. Maximize Productivity
2020 largely dispelled the long-held myth of significant “work from home” productivity reduction. Hybrid work can align the interests of both employees and employers to maximize productivity. Gallup found that even part-time remote work results in higher employee engagement. In fact, remote workers can be 47% more productive than their office-bound colleagues, largely due to less distractions and fewer sick days. Hybrid work empowers employees to select a work environment that maximizes their potential. Introverted employees may choose to work from home, and extroverts are likely to be in the office more frequently. By allowing your employees to decide how they work, they will be galvanized to select the location best suited to their productivity.
2. Cultivate an Ideal Work Environment
46% of the American workforce were initially reluctant to adopt remote work; now, employees are calling for the inclusion of hybrid work. An overwhelming majority, 83% of US workers, hope to work remotely at least part of the time in the future. Hybrid work can be a powerful signal to your organization that you care about your employee’s wellbeing and want to ensure they are comfortable with how they work. Working from home allows your employees to tend to personal responsibilities while still handling their work-related duties. The Forbes report also found employees who worked from home had higher levels of job satisfaction and were less likely to leave the company. Hybrid work also inoculates your employees against the dreaded commute. The rise in commuting time has negatively impacted employers as a daily increase in commuting time of 20 minutes had the same negative effect on employee satisfaction as a 19% pay cut. Offering hybrid working can become more than a simple perk for your employees, it can position your company for long-term success.
3. Attract and Retain Top Talent
When a work-from-office position becomes available, traditionally your hiring pool is limited by geography. Only people that live within a reasonable commuting distance will apply for the job. Remote work allows you to tap into a vast talent pool by expanding your hiring and recruitment efforts across the country or around the world. Hybrid work does not necessarily create a talent pool as large as remote work, but it does afford the opportunity to extend the talent pool farther. Because applicants understand they will not make the journey every day, they are more willing to make a longer commute. Additionally, working parents are often an underserved and underutilized portion of the professional workforce. While many have childcare, there are perceived barriers preventing parents from entering, or re-entering, the workforce. Offering hybrid work allows your company to tap into parents who could be your most loyal employees and top performers. Companies who invested in working parents reported 6% higher employee retention. A hybrid working model can dramatically change your hiring process and help you attract the best talent.
Reinventing the Modern Workspace
The 2010s brought in a new era of office construction that balanced collaborative and personal spaces. Yet more changes may be on the horizon when office setups are reconfigured as collaboration hubs instead of “cubicle farms.” Temporary workspaces may replace permanent desks as your employees go to the office less than half the time, and large in-person meetings may be transformed into smaller groups who connect virtually from the collaboration hubs. Less emphasis on personal spaces for employees can allow your company to shrink the size of your office space. Cost savings can be especially significant when looking for office space in New York, San Francisco, and other dense cities. In-person collaboration remains a key component to driving innovation, and these new office buildings will maximize potential. Additionally, hybrid work helps maintain personal interactions necessary to keep an organization’s culture thriving.
Hybrid work gives employees the autonomy to improve their work-life balance and maximize productivity. By adopting this model, your organization can improve retention, lower office costs, and expand the talent pool. Making the pivot to a hybrid working environment can create a sustained competitive advantage and improve your company’s growth pattern. To find out how Symba can help you make a transition to a hybrid working environment, sign up for a demo here.