Hybrid working a winner for majority of workers

Hybrid working has become the new norm following the pandemic. Now, employees have become accustomed to this new way of work and are trying to hold onto it.

The number of employees who prefer hybrid working to the traditional onsite, nine-to-five shift is significant, as an IWG survey revealed that 82 per cent of Aussie hybrid workers prefer this method.

There are a variety of benefits that come from a hybrid working model, especially for employee wellbeing. Some of the most popular reasons, according to respondents, were to help save money (75 per cent), decrease their stress levels (76 per cent), and increase their happiness (78 per cent). In fact, 77 per cent of Australian hybrid workers see a strong correlation between their wellbeing and their ability to work flexibly.

The proportion of employees who consider a lack of hybrid working a deal breaker is extreme, too, with 56 per cent claiming they would resign if they were forced to commute long distances daily.

If forced to make the daily commute, respondents said it would have negative effects on mental health (72 per cent), financial wellbeing (66 per cent), productivity levels (71 per cent), relationship with their employer (59 per cent), and relationship with family and friends (69 per cent).

IWG country head for Australia, Damien Sheehan, discussed the trends: “With cost-of-living pressures, a tight labour market and economic uncertainty continuing into 2024, retaining valued employees is more critical than ever. This latest research reaffirms the importance of prioritising your team’s physical, mental, and emotional wellbeing and the significance of supporting employee benefits and training.”

“Hybrid working is a win-win for employees and their employers and has radically redefined how we work. Businesses that embrace this evolution will not only draw in top talent but also maximise the potential of their teams, all while streamlining their own bottom line. This momentum is set to prevail in 2024, as a growing number of businesses and employees grasp the evident advantages – financial, cultural, and sustainable – that flexible working models can offer.”

Employers can benefit by being cautious of return-to-office mandates. While face-to-face collaboration is important, maintaining a balance is equally as important. The hybrid model allows for the best of both worlds.

Employees clearly agree, as 78 per cent believe a hybrid working policy should be a part of their company’s environmental, social and governance (ESG) plan.

Further to the benefits, IWG revealed that “from a business standpoint, they benefit from increased workforce productivity, employee attraction and retention, and cost savings adding up to an average of $14,300 per employee. For employees, ditching lengthy and costly daily commutes enables more quality time with friends and family, closer to where they live.”

The benefits are all-encompassing. Employers should reconsider back-to-office mandates and weigh up whether it will be worth decreased morale, productivity, and wellbeing.