New research shows that taking on hybrid work, and using flexible office space can significantly reduce a business’s bottom line.
Companies are now saving on traditionally fixed overhead costs, including rent, heating, and support staff, adding an average of £ 8,100 per employee.
Financial savings for businesses are not only created by reducing the utilities needed in an office, they can also be created by changing the location of the office itself. Office buildings are usually concentrated in expensive city centers, which often means long commutes of staff. This trip requires both time and money which can be spent elsewhere. A study by Confused.com found that working hybrids can save workers an average of 8 328 per month on train travel and accompanying costs, and can save up to £ 128 per month if they travel by car, saving significantly more for long-distance commuters.
Businesses are also responding to calls for a better career balance for employees in light of the great resignation. A recent IWG survey found that nearly half of office workers (49 percent) would quit their jobs if asked to return to work five days a week, where three-quarters would prefer long-term ability to work flexibly rather than return to office. Office five days a week with a 10 percent salary increase.
There are also positive environmental impacts to consider, as workers reduce the carbon footprint of their commute. Research shows that allowing workers to work from home, at least part of the time, can reduce nitrogen emissions, major pollutants from vehicle exhaust, by up to 10 percent, thereby reducing worker travel throughout the week.
After all, hybrid work not only saves money for both business and employees, it is also creating a positive impact on employees’ work ability. A PWC survey conducted last year found that 57 percent of business leaders said that because of more flexible work policies, their firms performed better than before against productivity measures, with only 4 percent of business leaders reporting a decline in employee productivity.
Mark Dixon, founder and CEO of IWG, says: “The rapid globalization in adoption of the hybrid-working model, where companies use technology to provide their employees with efficient remote access and homework, easily accessible local centers and traditional head-office sites, Employees not only benefit from a dramatically improved work-life balance, but the model represents a significant win for a company’s bottom line as well as employee bank balances. Expect to save £ 8,100. “