2020’s Coronavirus disease outbreak forced business owners to quickly rethink a new kind of workforce model. And while some businesses have resumed 100% onsite activities since, most businesses are choosing a hybrid workforce. Why? Flexible work schedules are directly correlated to employee satisfaction and the bottom line.
Prudential’s Pulse of American Worker survey found that 42% of remote workers say if their current company discontinues remote work options, they will look for a job with a company that does.
The 9-5 days are gone
Employees today expect flexibility. Working while juggling the plethora of life’s obligations is tough, and the hybrid workforce model is making work/life balance possible. Modern pressures and responsibilities have evolved, and so should the traditional work schedule. Employees appreciate the ability to get work done when it’s convenient for them.
Employees put a premium on physical and mental health
If you can’t afford a state-of-art gym, organically stocked cafes or daily meditation sessions onsite, that’s okay. Hybrid work models give employees the flexibility (and control) to make their physical and mental health a priority. Consider this: One survey report from Owl labs found remote workers reported less stress, more focus and a better work-life balance in comparison to fully onsite workers.
The battle for control
Good employees know when and where they are most productive. Why not give them the control to make the most of a work schedule that best suits them? Outdated, command-and-control management methods don’t inspire employees to be their most productive. It’s time to embrace a smarter, more innovative approach that allows employees the autonomy to choose how and where they get business done.
Savings all around
Hybrid work models save everyone money. A Global Workplace Analytics study found that employers can save over $11,000 per year, per employee, as a result of less office space, increased productivity, reduced absenteeism and less turnover.
The same goes for employees: The study also estimated that employees can save between $2,500 and $4,000 per year thanks to reduced food and fuel costs, lower car insurance premiums and less car wear and tear.
Productivity
Hybrid work models can empower employees to achieve their highest levels of productivity and engagement. One study from the University of Chicago found that 30% of respondents surveyed reported they were more productive and engaged when from home.
Recruitment
A 2021 Accenture survey found that 83% of workers around the globe prefer a hybrid workforce model. When it comes to competing for talent in a tight market, options like a flexible work schedule are becoming the norm, not the exception.
Retention
It makes good business sense to hold on to your best and brightest. And industry studies show that productive employees with flexible work schedules tend to stay with their employer longer than those without a flexible work schedule.
Turnover
Employee turnover is incredibly costly. Take into account the drop in morale, the impact on your organization’s reputation, and the time and money spent recruiting and training new hires.
One Workhuman study in late 2022 found employee turnover cost to be 1.5 to 2 times the amount of the employee’s salary.
Conclusion
Employees who can take advantage of hybrid work models are happier, more productive, less likely to resign, a little less stressed and a little bit richer. Meanwhile, businesses offering flexible work schedules are seeing increased engagement, talent retention and reduced overhead costs.
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Whether you’re interested in starting a new work model or you’re well into it and looking to make improvements, we can help. Our staff specializes in cloud-based solutions, productivity tools and other technologies to keep remote employees engaged, efficient and connected 24/7/365.