FUTURE OF WORK: HYBRID WORK MODELS COULD HELP BUSINESSES SAVE $500B A YEAR

Hybrid work has been gaining a lot of attention and adoption. Is this just a hype or is there a business case for going hybrid?

 

This article by Cecilia Amador de San José, Senior Associate Editor of Allwork.Space examines the business benefits of hybrid work models and highlights 5 key areas that will benefit most.

 

The financial benefit comes from five key areas: improved productivity, real estate cost savings, reduced absenteeism, better business continuity, and reduced staff turnover.
  • A new report highlights the business benefits of flexible and remote work, which includes billions of dollars in cost savings.
  • Most employees don’t want to work remotely or from the office full-time; the majority of workers prefer a hybrid approach.
  • This comes from five key areas: productivity, real estate costs, reduced absenteeism, business continuity, and reduced staff turnover.  

 

recent report by Global Workplace Analytics and Design Public Group (DPG) found that “employers could collectively save over $500B a year — roughly equal to the GDP of Sweden, Belgium, or Poland—or almost $11k for each employee who works at home half of the time.”

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Will a Hybrid Workforce Model Work for Your Business?

After a year of remote work and work from home it is anticipated most companies will adopt a more flexible or hybrid work policy as the workforce starts returning to the office post pandemic.

 

The key question is will the hybrid work model work for every business? This article by JOE GALVIN explores both the pros and cons of going hybrid.

 

Will a Hybrid Workforce Model Work for Your Business?
Getty Images

Today we are living in a largely separated world, connected by technology. While we moved to a work-from-home model in the spring out of necessity, many employees have become used to working from home and its many conveniences. Gen Y and Millennial workers no longer see work-from-home as a perk, rather it’s become a requirement. The relentless demand for talent will now make work-from-home a competitive and differentiating feature.

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Workplace disrupted – five themes that will define the future of work

How has the pandemic changed the future of work?

 

We want to share this article by C. Vijayakumar, President and Chief Executive Officer, HCL Technologies which lays out 5 key themes that will shape the future of work.

 

work from anywhere: man sitting on rooftop with laptop
The best time to start was yesterday, the second best is now.
Image: Photo by Avi Richards on Unsplash
  • The post-COVID era will be shaped more definitively by technology than any other force in the global theatre today.
  • The way people work and interact with their workplaces and the way companies operate will see tremendous changes.
  • We can group them under five core themes: work from anywhere; work for all; work at will; work smarter; and work for planet.

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“WE’RE NOT GOING BACK”: THE POST-CRISIS WORKPLACE IS HYBRID

The hybrid work model has been gaining a lot of attention and the popular consensus is that most organizations will incorporate some kind of work flexibility for the returning workforce. Therefore the hybrid workplace model will be widely adopted by most companies post pandemic.

 

This article by Jo Meunier (née Disney), AllWork’s Senior Editor for the UK and Europe shares useful insights into the benefits and expectations of companies going hybrid.

 

The future is hybrid. Yet, the hybrid approach will need a ‘tech wrapper’ to enable a better employee experience.
  • A survey by IDC carried out in August 2020 found that before the Covid-19 pandemic, 8.4% of people in the US worked from home full or part-time, and in the post-crisis future, that figure is expected to be 15.8%
  • Because flexible work has proven to be highly beneficial, the future will incorporate hybrid work. 
  • A hybrid approach combines the benefits of working from home with the core reasons we use offices. 

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The 2021 State of Remote Work

While remote work is not new it has gained a lot of attention in the past year as a result of COVID-19. We would like to share some top insights and data from one of the largest remote work reports.

 

The 2021 State of Remote Work report was put together by and published in Buffer. Here we share the full report with detailed findings and insights.

 

This past year, everything changed in the world of remote work.

 

Remote work went from a niche decision some companies made to an inevitable and massive shift in the way that people work around the world. While working from home doesn’t offer the same benefits of truly remote work, it is still a remote experience.

 

As a result of this shift, the 2021 State of Remote Work looks very different this year. To start, our survey asked very different questions. We still looked into the benefits and struggles of remote work, and whether or not people wanted to keep working remotely (even if they were pushed into it rather suddenly). We also found out how many of our respondents worked remotely as a result of COVID-19, and how their experiences differ from folks who worked remotely prior to 2020.

 

This report starts with an overview of a few key statistics and then moves into deeper insights from the data. At the end of this report, we have more information about the respondents and data, as well as how to get in touch if you have questions.

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Co-working spaces poised for comeback as businesses adopt hybrid office model

Many industry players are expecting demand for flexible office space to increase after the COVID-19 pandemic. This bodes well for co-working space operators especially after a challenging year of lockdowns and work from homes.

 

With people returning to work and organizations adopting a hybrid work policy co-working spaces are poised for a comeback. This article by  provides a quick preview of where co-working spaces are headed.

 

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The Bat Haus Coworking and Event Space in Brooklyn, N.Y. (Shridhar Gupta photo)

Co-working spaces, like many other businesses, were caught flat-footed by the drastic drop in activity when the pandemic hit last year.

 

Almost overnight, people worldwide fled shared offices to work from the safety of their homes. The drastic drop in customers forced some co-working centers to close, while others had to rapidly adapt their offering to weather the coronavirus storm.

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