One of the unexpected side effects of the Covid epidemic has been the birth of the largest remote working study ever carried out. The experiment caused business owners from all over the globe to rethink how their organizations operate and has led to a massive change from office-based to hybrid methods of working.
In this article we’ll breakdown the advantages of hybrid working to three major categories: the ones that are beneficial to employees themselves and the companies they are employed by, and those which benefit society as a whole. We’ll attempt to prove that, while these new ways of working will make a significant difference on both the employees and the organizations that embrace their methods, the general public will benefit just as significantly.
Hybrid jobs – benefits for individuals
The immediate benefits that come with hybrid work are those that are experienced by the individual “knowledge workers”. The benefits of hybrid working tend to differ in accordance with the particular type of hybrid work being used in any particular company department, department, or team. In general they fall into three broad categories: better health in addition to increased income and improved mobility.
Better Employee Well-being
The people who have had experience of hybrid work tend to claim that it offers them greater freedom and control in regards to where and how they work and it lets them commute less frequently. These changes, taken together, have resulted in improving the balance between work and life of the majority of hybrid workers, and making them more content.
Affective increase in income
In the “old world” there were many who spent around twenty to thirty pounds per day , sometimes more, to commute to work. In the course of a year, this can amount to thousands of pounds on transportation costs alone. In allowing workers to work from home more frequently, hybrid work can help knowledge workers cut down on the cost of their commute and effectively serves as an tax-free way to increase disposable income.
More Mobility
When commute times were an important element in determining where one was able and willing to work, the concept of hybrid work has made it easier to achieve geographical mobility, allowing workers to work for companies that are located in a wider variety of locations.For instance, it’s possible that a person living in Manchester is employed by an organization with its headquarters in London and commute to the office every week or every month, and working from home for the remainder all the time. It’s increasingly plausible that someone living in Manchester could be working for an organization located in such a place as California and fly across to attend major events, but working at home all the time.This could enable the majority of hybrid workers to find jobs without the need to relocate.
Hybrid work benefits for companies
One of the most persistent misconceptions about hybrid working is that although individuals can gain enormously by adopting these new methods of working, the advantages for organizations themselves are from being clear. However, this is not the case. In the new world of work and hybrid working, it is expected to provide a major competitive advantage to the companies who are able to use it effectively.
Reduced real estate costs
In the beginning, there are numerous financial benefits to companies who are willing to embrace hybrid work. Simply put, companies who do not have to furnish a desk in an office for each employee will reduce their expenses through reducing the footprint of their offices. Costs for real estate, especially in big, well-off urban centres are often staggering. Less space equals less rent.
Increased productivity of workers
Companies are also likely to reap the benefits of the enhanced mental health that hybrid work gives their employees. People who are content and well-balanced are much better able to perform. (This is the case with many of the recent studies have found that productivity increases when employees work remotely). Companies that can keep a happy, high productive employees will be more competitive than companies that do not.
Better retention rates
One of the main worries we hear about is that the hybrid/virtual work environment adversely affects retention. Companies worry that if employees don’t have to go into the physical office on a daily basis and are not working from home, they aren’t able to build bonds with their colleagues, or become more enthused about the organization’s mission. This means that when recruiters and headhunters call, the employees are less likely to stay committed to the current employer as they would under the previous office-based regime.In the real world the reality we are finding is that companies who are not offering attractive hybrid and virtual working options are losing their employees to firms that will give the employees what they need. It’s possible to conclude that the two benefits with hybrid working include improved retention rates as well as a better potential to draw the best talent.
More talent pools
In line with the previous aspect of higher retention rates and the ability at attracting top talents organizations that have adopted hybrid work will also enjoy an increased number of areas from which they’re in a position to hire than companies who do not.Under the traditional model of office work, for instance, a company that is based in Seattle was restricted to hiring employees from Seattle and the surroundings. In a hybrid model that same company will be able to spread its net a lot larger, perhaps even across the entire US which will significantly increase the number of applicants who are able to choose its employees.
The ability to increase headcount without adding cost for space
Because of the lower demands placed on the utilization of workplaces Hybrid working offers the opportunity for companies to reduce their office footprints and consequently significantly cut down on expenses for real estate. Many companies are bound by long-term leases on real estate and have a myriad of reasons that make relocating offices difficult and, in some cases, impossible. One bright side for these businesses is that they’re in a position where they can significantly expand their workforce without incurring additional space-related expenses.
Leadership visibility is improved for senior executives
Auditoriums and meeting rooms have a limit on capacity, which limits the number of people who are able to attend every occasion. The result is that information tends to flow down the organizational hierarchy, moving through various levels of management until it is received by workers on the ground floor. Virtual meeting rooms however have no limitations on space, thereby providing an opportunity for leaders at the top to directly interact with each employee in the organization.
Hybrid work benefits for society
Although the advantages of working in a hybrid way to companies or individuals are easily quantifiable but it can be hard to measure the value these innovative ways of working can bring to the general public. It is possible to draw a few general statements about the vast social and societal effects from hybrid workplaces.
Environmental benefits
Hybrid working is predicted to have tremendously positive effects on the surroundings. With fewer employees coming into the office every day, the requirement for large office spaces can be significantly decreased. Smaller offices don’t just result in lower rental costs, but they also result in less office pollution.And when fewer workers have to go into the office on a daily basis or travel abroad to work, then the pollution from the commute (cars/trains/flights and so on.) will also drop.When implemented globally and encompassing these changes to office footprints and commuting as well as business travel are likely to result in pollution generated by corporations will drop and that’s a major benefit for our society.
More employment rates
If workers who are knowledgeable can apply for jobs that are located across a greater variety of locations, and employers are able to employ from a larger selection of applicants Job postings for hybrid positions will more likely to fill quicker than those that are purely office-based. This is likely to result in a situation where rates of employment are generally higher in areas where hybrid working is widely used.
A healthier society
For the final part of this article we’ll return to the original issue we raised, that of the increased well-being that is associated with the hybrid workers.Society is, as such an individual group. If the individuals who are happy and healthier because of their hybrid work, the society they are part of is also likely to be healthier and happier. The advantages of hybrid work could begin with hybrid workers however they’re likely to extend to the friends and families of hybrid workers before ultimately affecting all aspects of the modern life.Hybrid working by itself might not be the panacea for the problems of society but it’s an experiment that has demonstrated, an essential part in the larger puzzle.
The advantages of hybrid work are numerous and it’s high time for companies to review their workplace strategies.
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