For many occupations, the traditional 9 to 5 is a thing of the past. Business owners have learnt during the previous two years that employees no longer want to be constrained to regimented working arrangements, and are adapting HR structures to reflect this.
Whether it’s allowing employees the flexibility to work at different times of the day to improve productivity, or supporting and trusting workers to be autonomous and work remotely, businesses realise that in order to retain and attract the very best employees, working arrangements need to evolve with the times.
Better work-life balance
One of the key reasons employees are attracted to hybrid work is the improvement of work-life balance. With more control over work scheduling, employees are able to free up time to manage external activities that pop up. Whether it’s sick children, collecting deliveries or running errands, workers are more empowered to meet all of their obligations without feeling stretched or overwhelmed to do so; leading to increased employee engagement and an improvement in job satisfaction, something that cannot be overstated in the current labour market.
Reduced illness and absenteeism
It should also be mentioned that throughout the COVID-19 pandemic, employees may be uncomfortable at the prospect of being exposed to illness or disease in a traditional office set up, and have legitimate concerns in relation to health and safety. Working from home provides a barrier to exposure, and also allows people who need to care for sick household members the opportunity to stay on top of important work tasks while doing so.
Reduction in real estate costs
Businesses that choose to migrate to fully remote work will discover big savings on expensive real estate and in the absence of completely forgoing a designated office space, business owners can instead rethink coworking in a bid to reduce costs. Is it more cost-effective to invest in at-home set ups for employees and utilise casual shared office space as and when needed? Obviously, this is not possible for many businesses who require employees to be onsite, but for business owners who are able to factor hybrid work arrangements into the strategic business plan, it is certainly worth considering from an economic standpoint.
Bigger talent pool
Today’s labour market is tough! When employers are unable to find suitably skilled local workers, the next logical step is to look further afield. Hybrid work allows for managers to select, recruit and onboard candidates from interstate or even overseas, not only providing a competitive edge but also opening up the business to new markets. On the other side, it provides opportunities for workers to seek employment with desirable businesses, even if they are located elsewhere.
Hybrid work used to be seen as an alternative style of work but in the wake of the COVID-19 pandemic, businesses across many industries have seen the benefits of implementing flexible working arrangements for employees. In order for businesses to remain competitive, business owners have to meet the needs of the workforce or risk losing them to employers that do.
Implementing a hybrid work model into your business requires effective human resources planning. If you’re considering changes to your current HR structure, get in touch with our team who can provide support and advice to ensure compliance and best practice throughout the process. Next week, our blog discusses practical steps business owners should take when implementing a hybrid work model so be sure to check it out.
Find our articles helpful? Remember to follow us on Facebook, Instagram or LinkedIn to keep up to date with our practical tips and information for business owners and managers.