As more of the population is vaccinated and we see the light at the end of the tunnel, many companies turn their attention to working in post-pandemic environments. The hybrid workforce seems set to become a part of the permanent working landscape.
From a global standpoint, there are many factors to consider when shifting to a hybrid workforce. There are social implications, urban economics, urban to suburban shifts, modifications to existing transportation and utility infrastructures, and effects on consumer spending, to name a few. Additionally, not everyone can participate in the hybrid workforce due to occupational requirements such as providing care or the use of specialized equipment and machinery.
Gartner, a research and advisory company, found 82% of organizations plan to keep remote work as an option and 47% plan to allow employees to work remotely full-time.[i] 43% of full-time employees in the US have expressed wanting to work remotely.[ii] McKinsey & Company report more than 20% of the workforce could work remotely three to five days a week as effectively as if they were working full-time in an office.[iii] These numbers represent about 40% of the total US workforce as the balance of workers in the US cannot work remotely.[iv]
The pandemic has provided a testing ground for the concept of hybrid workforces and fully remote offices. It turns out–there are benefits for both organizations and employees–which adds to the arguments being made to move towards a more hybrid workforce.
- Reduction of costs
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- Companies are saving money on rent, cleaning, utilities, office supplies, kitchen snacks, insurance, taxes, and all the other day-to-day items which keep an office running smoothly.
- Employees are saving money on eating out, commuting, and automobile insurance and maintenance. According to USA Today, the annual savings is $4,000.[v]
- Increased Productivity
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- Employees feel more productive – 13% more according to Stanford[vi]
- Feeling less stressed
- Increased flexibility with work hours and more control over work/home life balance
- Fewer office politics and drama
- Employees are more focused
- Healthier employees with less absenteeism
- On topic and on-time – meetings with a purpose
- Increased talent pool
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- The talent pool for employees is no longer limited to the immediate area, and when searching outside of the immediate area, remote employees means no moving expenses.
- Stronger Employee Retention
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- The ability to work remotely influences people’s loyalty to their employer. Gartner estimates that organizations that support a “choose-your-own-work-style” culture can boost employee retention rates by more than 10%.
- “Remote teams almost have an unfair advantage in hiring. I regularly talk to San Francisco teams that lose candidates because other companies offer an opportunity to work from wherever they want. This has become more and more common.” Andreas Klinger, Head of Remote at AngelList
- Greater Diversity
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- Hiring top talent from different cities, countries, and backgrounds can also help you create a diverse team and give you a competitive advantage.
- Environmental Impact
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- Less commuting = less carbon footprint
- Reduction in air pollution[vii]
The introduction of the internet changed the way companies do business. It relegated the (at the time) tech marvel–the fax machine–to the corner and drastically reduced costs by removing the reliance on USPS and other mail delivery services. The internet reduced the response time on issues but introduced a lack of formality that previously did not exist. It increased the workday but is credited with the expansion of business capabilities.
The internet was a positive change in the workplace with a cost, but no one would consider going back. I predict the hybrid workforce will be viewed in the same way. Now is not too soon to consider how this will affect your workplace and get ready.
[i] https://www.gartner.com/en/newsroom/press-releases/2020-07-14-gartner-survey-reveals-82-percent-of-company-leaders-plan-to-allow-employees-to-work-remotely-some-of-the-time
[ii] https://journal.getabstract.com/wp-content/uploads/2020/04/ga_remote_survey_2020_compressed.pdf
[iii] https://www.mckinsey.com/featured-insights/future-of-work/whats-next-for-remote-work-an-analysis-of-2000-tasks-800-jobs-and-nine-countries
[iv] https://www.mckinsey.com/featured-insights/future-of-work/what-800-executives-envision-for-the-postpandemic-workforce
[v] https://www.usatoday.com/story/money/2020/03/22/working-home-likely-save-you-money/5024967002/
[vi] https://voxeu.org/article/how-americans-use-time-saved-working-home
[vii] https://www.iqair.com/blog/air-quality/report-impact-of-covid-19-on-global-air-quality-earth-day
