As you make plans for managing talent in 2024, it’s a great time to consider whether offering your team (and job candidates) a hybrid work model is a viable option. Companies and employees alike are benefiting in many ways from these working models in our post-pandemic era.
Here are four major advantages of hybrid work models:
- Enhanced productivity: The flexible working structure of hybrid models lets employees work in environments that suit them best and where there are fewer distractions and interruptions than in an office environment. This naturally leads to higher productivity. A hybrid model also allows employees to work part of the time in person, with peers, mentors, and managers, which is incredibly important when it comes to building relationships and careers.
- Increased candidate applicants and more successful hiring results: Of the 3,000 U.S. job seekers polled in a recent workforce report, flexibility is still king, with 63% saying the top factor in their decision to accept a job offer is whether the job is remote, hybrid, or in-person.
- Higher employee satisfaction and retention: A recent employee experience report with data from more than 8,000 people globally found that employees who engage in hybrid work are the “happiest in the world.” Better work-life balance grows and improves employees’ well-being, personal lives, and mental health. Burnout decreases. And workspaces are more appealing because employees create and control their work environments.
- Ability to stay competitive: One of the greatest competitive advantages of hybrid work models is being limbered up and well-oiled for business continuity in the face of external factors, such as unforeseen events like the pandemic, which crippled operations for millions of companies that were not set up for remote work operations.
Perhaps the most important benefit of a hybrid work model is that it is proven in creating a more positive company culture that invariably drives businesses to greater success.
The financial advantages of hybrid workplace models
- Improvements at the bottom line: Hybrid work models, in which employees work remotely part of the time, can reduce operational and overhead costs by requiring less office space and paying lower utility and maintenance bills. And as mentioned, they also tend to increase employee productivity. “In a recent study, my client, a large financial services company, found that their remote workers were able to complete tasks more quickly and with fewer errors than those working in the office,” says Dr. Gleb Tsipursky, CEO of future-of-work consultancy Disaster Avoidance Experts. “This increased productivity can lead to a significant boost in the bottom line.”
- Cost savings for both employers and employees: We often hear of candidates willing to accept slightly lower salaries if working remotely is an option, due to the savings they’ll incur by not commuting every day. The average annual cost of commuting to work in the United States is nearly $8,500, taking into consideration the cost of fuel and car maintenance and repairs. And there are untold hours spent driving. Time is money!
- Lower carbon footprint = more successful hiring: Tsipursky underscores the environmental message a company sends to the community and workforce by offering a hybrid work model. “This not only helps the environment, but it also helps the company to improve its reputation and attract environmentally conscious customers and employees.” He makes a critical point! More than half of Gen Zers (55%), the fastest growing segment of the workforce – and millennials (54%), the largest generation in today’s workforce – say they research a company’s environmental impact and policies before accepting a job from them. Hybrid work models increase hiring ROI by supporting top talent acquisition and retention.
What kind of model would you implement?
As most employers who use these models know, a hybrid work model is not a one-size-fits-all solution. However, different structures are easily adopted and tailored, offering ultimate flexibility for both employers and employees. You just need a good plan based on your unique operations and the wants and needs of your employees and customers. A clear-cut communications plan is also needed.
Here are four popular hybrid schedules to consider that are effective for other companies:
- 60/40 hybrid work schedule: With a 60/40, or a 3/2 split, employees can work remotely three days a week and come into the office the other two days. This can be flipped, too, with two days remote and three days in the office.
- Alternating weeks: This option allows for a full week working from home, and the following week at the office. The schedule continues alternating back and forth on a weekly basis.
- Rotating shifts: The rotating shift option allows your team to rotate their schedules, which accommodates the need to always have someone in the office.
- Hybrid shifting to fully remote: This option allows an employee to start with a hybrid schedule and over time shift into a fully remote schedule.
Why and how hybrid work models make a difference
CareerBuilder for Employers highlights the following trends and best practices in hybrid working:
- Why: Underscoring one of the above-mentioned advantages, according to Gallup, 71% of employees who had a hybrid work arrangement said they achieved a healthier work-life balance. A hybrid work model allows employees to have greater control over their schedules so they can prioritize their work and personal life. It’s especially worth considering work-life balance to recruit millennial and Gen Z employees. A Deloitte study found that work-life balance is the top consideration among these groups when choosing an employer.
- How: Choose or craft a hybrid work model that best suits your business – and give your employees the tools they need to succeed in the workplace and at home. For example, you might provide secure work laptops to employees for when they work remotely. Make sure there are reasons for employees to come into the office. Whether for team meetings or group projects, give them a reason to be there.
It’s critically important that employers enable robust, real-time team communication and collaboration through cloud-based tools, video conferencing, and other platforms that employees can access from anywhere. These connectivity solutions along with secure access to internal systems build and sustain employee engagement and ensure all team members have the technologies they need stay close, accessible, and responsive, no matter where they are.
Let Goodwin Recruiting help you succeed
The future of work and work options will no doubt take many twists and turns, but one thing that’s clear is that hybrid work models are here to stay.
Reach out to me today if you’d like to learn more about implementing a hybrid work model to attract top talent and strengthen your team. I am a DEI-certified senior recruiter at Goodwin Recruiting, which was recently recognized for fourth year in a row as a Forbes ‘Best Executive Recruiting Firm’ and ‘Best Professional Recruiting Firm’ in America.
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