In the wake of rapid advancements in technology and shifting workplace dynamics following COVID 19, the concept of a work environment has evolved.
In this article, Livingston James’ Research Consultant Harry Thomson explores recent trends that have been observed around office working, comparing the benefits of entirely office-based working versus hybrid working.
In a recent study undertaken by KPMG, 64% of the 1,300 CEOs surveyed globally predicted a full return to the office by 2026. It reflects a trend where many companies are beginning to phase a return to the office for their employees, and one of the most notable examples is HSBC, now requiring its 18,500 employees to be in the office 3 days per week.
What are the key differences between the two working models, and which might be better for your organisation?
Hybrid Working: The Best of Both Worlds
Hybrid working is a flexible work arrangement that combines in-office and remote working. Here are some of the key benefits:
- Flexibility: One of the most significant advantages of hybrid working is the flexibility it offers. Employees can choose when and where they work, allowing them to adapt their schedules to their unique needs. This flexibility can enhance work-life balance and provide a lifeline to many parents and caregivers. CIPD research shows that an estimated 4 million UK employees have changed careers due to a lack of flexibility at work.
- Improved Job Satisfaction: Employees often report higher job satisfaction in hybrid environments. The autonomy and control over their work both contribute to greater morale and a more positive work experience.
- Attracting and Retaining Talent: Organisations offering hybrid work options are more appealing to job seekers. They also often have higher retention rates for existing employees, particularly those who value flexible work arrangements.
- Cost Savings: Hybrid work can result in cost savings for both employees and employers. Commuting expenses are reduced for employees, while companies can trim overhead costs associated with maintaining large office spaces.
- Environmental Benefits: Reductions in commuting and office energy consumption can lead to a smaller carbon footprint, contributing to environmental sustainability.
- Business Continuity: Hybrid work models enable companies to better adapt to unexpected disruptions, like natural disasters or health crises, as employees are accustomed to remote working.
Fully Office-Based Working: Traditional and Structured
Fully office-based working is the traditional work arrangement where employees come into a physical office daily. Here are some of the strengths of this model:
- Face-to-Face Collaboration: In-office work promotes face-to-face interactions and collaboration, which can be particularly beneficial for certain tasks or projects that require teamwork and creative thinking.
- Unstructured Learning: The office environment allows for far greater ‘learning by osmosis’. In many environments, the most important learning is done by watching and listening to those more experienced around us, which becomes difficult in a hybrid or remote environment. Deloitte and PwC have even recently launched initiatives to help junior staff develop certain competencies, as well as skills like mental resilience.
- Team Building & Social Benefits: A physical office space fosters a strong sense of community and can aid in team building and company culture development. It also allows employees to reap the social benefits of the workplace, leading to less feelings of isolation and loneliness.
- Structured Routine: For some, the routine and structure of office work can be comforting and helps with time management. It can also help employees separate work life from home life, with a clear end to their work day when they leave the office.
- Management Oversight: Employers may find it easier to monitor employee performance and provide immediate feedback in an office-based setting. Employees may also feel there is easier access to support from their managers when they can meet and speak with them in the office.
Finding the Right Balance
There is no one-size-fits-all answer to whether hybrid or fully office-based working is superior – it largely depends on your organisation’s specific needs and the preferences of your employees. Some companies may thrive by embracing a fully office-based environment, while others may benefit from the flexibility of a hybrid model.
Ultimately, the success of your work arrangement will depend on effective communication, clear policies, and a supportive infrastructure; ensuring work remains productive regardless of whether it’s done in the office, at home, or a combination of both.
For a confidential discussion on your talent attraction and retention strategies / requirements, please contact Harry Thomson: [email protected].