Whatever type of business you manage, delivering the right work-life balance for your team is crucial for success. An easy and efficient way to achieve this is by implementing a flexible working policy and partnering with the right workspace provider. Flexible working is fast becoming the new norm in today’s dynamic workplace, with businesses embracing flexibility, custom workspaces and most importantly, improved employee wellbeing.
A key benefit of hybrid working is that it eliminates the need to be confined to a single location, allowing you and your staff to strike a better balance between professional and personal responsibilities. This flexibility offers multiple advantages, the most significant being a healthier work-life balance. By reducing commute times and allowing the convenience of working from home, you can allocate more time to family, hobbies, or simply recharging. Additionally, the autonomy gained by being able to manage your own schedule can lead to increased productivity, job satisfaction, and overall well-being.
Research conducted by the International Workplace Group, which includes leading workspace brands like Regus, Spaces, HQ, and Signature, highlights the impact of increased workspace choices. Their Australian Hybrid Workers Survey revealed that 76 per cent of Australian workers experience lower stress levels under the hybrid model.
It’s well-known that healthy, happy workers are more productive. The benefits of hybrid working are mutual, with 72 per cent of workers reporting increased productivity and 82 per cent indicating greater happiness and motivation. Additionally, with less time spent commuting, respondents have more time for family, friends, exercise, and overall wellness.
Research consistently shows that the hybrid model significantly enhances worker contentment, well-being, and satisfaction. A key factor is the reduced need to commute, which allows employees to avoid long hours in traffic and often use part of this saved time for work. According to Stanford University research, eliminating the long commute just two days a week can result in productivity gains of 3 per cent to 4 per cent for companies.
“Employees have realised they’ve been wasting time commuting when they don’t need to be in an office,” Mark Dixon, CEO and Founder of IWG. “While businesses recognise a hybrid model means happier, more engaged employees and significant cost savings.”
Hybrid is a magnet for attracting top talent
Hybrid working is also a powerful tool for attracting top talent. It changes the geography of work, allowing businesses to hire talent globally, as there’s no need for employees to be close to headquarters. With 77 per cent of employees considering a flexible workspace close to home essential for their next job, hybrid working is the key to attracting the best candidates.
Nicholas Bloom, a renowned expert from Stanford University, suggests that employees perceive hybrid working as equivalent to a 7 per cent to 8 per cent pay raise. Additionally, an IWG study found that 88 per cent of employees view hybrid work as the top benefit they seek in a new job, making solutions like Regus crucial for attracting top talent.
This flexibility has become so vital that many now see it as indispensable. IWG’s research shows that nearly half of workers would only consider jobs offering hybrid options. Furthermore, a Microsoft survey found that over half of employees would consider quitting if their hybrid-working policy was eliminated.
Whichever way you choose to work, one thing’s for sure, hybrid working is here to stay.
“As each year goes by, it becomes clearer that we’re living through a landmark era of transformation in working life,” says Mark Dixon. “Look at how the geography of work is shifting, as more and more people get to live their dream of working close to home. And consider the significant and growing contribution that hybrid work patterns are making on the road to Net Zero. There’s no doubt that hybrid is here to stay – and it’s changing the world for the better.”
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