Once the biggest fear of the organizations has become a norm now. Once considered the most crucial part of the organizational environment, office spaces have just become secondary. Hybrid workspaces have become a norm in almost all companies in one way or another.
In the post-lockdown era, most organizations have embraced the reality and utility of hybrid workspaces. However, many companies still consider the on-site presence of employees necessary for business operations.
63% of the high-revenue growth companies use hybrid work models, according to a recent report of Accenture. The same survey pointed out 69% of companies that didn’t improvise hybrid work models in their companies witnessed no or negative growth. These statistics show that a hybrid workspace won’t hurt your profits as a business. Therefore, adopting the model must be considered by the organizations.
We have built a logical foundation of why companies should embrace hybrid workspaces in 2022 and beyond. Here is an elaboration from the employee’s and employer’s perspectives.
WHAT IS THE CONCEPT OF A HYBRID WORKPLACE?
As the name suggests, the hybrid workspace model is a mix of different working models. More appropriately, hybrid workspace or hybrid work model represents an organizational environment with a mixture of on-site and remote workers. Employees get more flexibility to work, and 83% of employees use this flexible working model.
HYBRID WORK MODELS
Three different hybrid working models are incorporated in different organizations, and we will briefly look at each of these models.
HUB AND SPOKE MODEL
The Hub-and-spoke model says that everything originates from the hub and is disseminated to the spokes. The hub-and-spoke model in hybrid working has been derived from the original transport topology. Under this model, employees can work from the hub or work from spokes(small centers for one or more employees). The model focuses on providing employees with all conditions and resources that increase their productivity.
AT WILL MODEL
The second model is an at-will model. As the name suggests, the employees are given a free choice to select their office or workplace every day. They can choose to work remotely or visit the formal office. For instance, if an employee is working on a project where he needs to visit the office frequently, he can choose the on-site work setting and vice versa.
CENTRALIZATION AND DECENTRALIZATION
To create a balance in the organization, companies sometimes use centralization and decentralization. The decision-making and strategic management are kept on the top level of management. At the same time, some decision-making authority is given to lower and middle management. It creates a balance and emphasis on how an employee works instead of focusing on where he is working.
BENEFITS OF HYBRID WORKSPACE FOR EMPLOYEES
Here are the benefits of a hybrid workspace from the employee’s perspective.
BETTER WORK LIFE BALANCE
Employees are the most important resource for any business organization, and their satisfaction and loyalty can do wonders for a business. According to a survey, work/life balance is the biggest factor impacting employees’ decision to choose work from home. Employees that work in hybrid workspaces report having a better work/life balance.
FLEX WORKING
Employees are empowered to work with flexibility and best use their skills and strengths. Besides, the employees can also choose the place where they’re most productive. They don’t have to struggle to have time with their friends and family. Above all, all of this flexibility doesn’t affect work productivity. Instead, most individuals feel empowered and more productive when offered flexible work.
IMPROVED MENTAL HEALTH
The reduced stress and flexible working have a positive impact on the employees’ mental health. The results have been supported by Microsoft’s global survey in which every 1 out of 5 respondents believe the employers are indifferent to work/life balance. On the other hand, a huge percentage of employees consider work/life balance the most important priority and favorable feature of a job offer.
When they’re getting enough time to do their personal things, spend time with family friends, and deliver better results at work, too, it improves overall mental satisfaction and health.
HIGHER SATISFACTION
From the hybrid models and higher productivity of remote workers, companies should learn the lesson to provide equal opportunities and autonomy to on-site workers. Whichever working mode, autonomy, and empowerment are directly proportional to employee satisfaction. When employees are working in their comfort zone, they’re more motivated, relieved, and happy.
BENEFITS OF HYBRID WORKSPACE FOR EMPLOYERS
Employers must look at the human perspective of their companies and make sure that their employees are satisfied, productive, and retained. Here are the benefits of a hybrid workplace that employers can enjoy as a result of more effective and competent employees.
ACCESS TO MOST QUALIFIED POOL OF TALENT
When you remove the barrier of geography in your work environment, it opens the doors of most qualified talent worldwide. A company can explore the local hiring pool as well as the global talent. When a company has to choose from a local hiring pool, it limits the level of quality. However, when a company is free to prioritize skill over geographic conditions, more competent employees get hired.
IMPROVED COLLABORATION
The employees have an option of working remotely or visiting the office. They can choose to work in person(face-to-face) or collaborate remotely. This results in better bonding between peers and colleagues. As a result, they work more collaboratively instead of in internal competition. Employees are able to meet up in person on projects that increase personal bonding, loyalty, engagement, and productivity.
HIGHER RETENTION AND LOWER TURNOVER RATE
Satisfied employees have the flexibility of work, a balance of work and life, and higher satisfaction; they experience low or no stress. The day-to-day improvement in productivity makes employees feel part of the organization, and employers can be positive about employees retaining the jobs.
Besides, a better work/life balance offered in hybrid work models results in a lower turnover rate as 54% of employees prefer working from home.
COST BENEFITS
Cost benefits of having a hybrid workspace are also a convincing reason why companies should embrace hybrid working. The companies have to incur lower operating costs as on-site employees use less office space. According to a survey of PwC in 2020, 87% of executives had plans of changing real estate strategies to optimize office spaces.
Besides, the daily commute of employees is reduced, resulting in lower travel allowances given to the employees. Global Workplace Analytics and the Design Public Group revealed that employers cab save over $500 bn per year by adopting hybrid workspaces.
NON CORE TASKS CAN BE OUTSOURCED TO REMOTE WORKERS
It also makes hybrid work as a cost-effective strategy. In the hybrid working model, a business can outsource the non-core tasks to remote workers or independent service providers. For instance, if an IT company has to do accounting and bookkeeping at home, it will cost a lot to set up the resources, hire employees, and incur regular costs.
FINAL WORDS
Hybrid workspaces are becoming common, and it’s the future of organizations. It’s better if executives and entrepreneurs embrace the work model and start implementing it from today. You should also implement a hybrid working to promote an environment-friendly work culture and care about the human perspective of your organization.
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