There’s no doubt that enforced remote working was a curveball the business world wasn’t ready for – and this is being met with the other extreme where businesses are forcing people back to the office. The good news is that there’s a happy solution right in the middle called a hybrid work model. And it’s just as good for businesses as it is for employees!
- Employees are demanding flexibility
The overwhelming majority of employees want flexibility in how they fulfil their work. After all, if you can fetch your kids from school, avoid a commute, play with your dog, AND still get all your work done, what’s not to like? The consequences of not offering flexibility are dire, with over one third of Aussies saying they’ll quit if they’re forced back into the office full-time. And with an industry-wide skills shortage, that’s something businesses must pay attention to because it could cause higher turnover or hiring problems.
- Working from home isn’t great for everyone
Not every employee wants to work from home! Maybe they like an office environment because they can focus better, because their home office is on the kitchen table, or because they like the feeling of leaving work at the office when they go home. Regardless of the reason, some of your employees do want to come back, so enforcing remote working is no solution either.
That’s where hybrid work models come in. Essentially, it’s a balance of remote working and in-office working customised to people’s roles and preferences. And it’s a clear winner because:
- It improves productivity
No matter what you may think, countless studies from Microsoft, Stanford University, Harvard Business School, and more have proven that hybrid working is a productivity booster. One good reason is the empowerment it brings – people feel autonomous, have greater ownership of their time and work, and this creates greater engagement, trust, and job satisfaction.
- It’s good for your bottom line
Trying to run a lean, cost-efficient, and waste-free business? Well, hybrid is great for that! Studies have found that it saves an average of to $14,300 per employee because you pay for less office space, less energy, and less water. It also saves employees lots of money they’d usually spend on commuting, ordering in lunch, and other daily expenses. In fact, it’s estimated that you’d need to offer a 10% salary increase to convince an employee to come back to the office permanently!
- It’s good for talent attraction and reducing turnover
With the current skills shortage and cost of living increases, it’s easier than ever for an employee to look elsewhere for a job that offers them more money or flexible working. As a result, hybrid work models have become an important element in both reducing turnover (which costs an average of $23,000 per candidate) and attracting high-performance candidates who will drive your business’s success.
Gear up for the age of hybrid work
Want to see if hybrid work is the right path for your business? It’s time to chat to the team at Otto to find out what tech you’ll need to fill your teams with happy, productive, high-performance staff. We’ll help you build, implement, and support a custom solution that’s both affordable and effective, supporting your growth.