Through the Looking Glass: Is Hybrid Work Here to Stay?
Change is the only constant in this world, indeed. But how much change is still comfortable enough for your growth?
Stepping outside your comfort zone and unlearning the organisational culture you have built over the years is not a walk in the park. Plus, there is no assurance that your venture will produce tangible outcomes. On the other hand, playing it safe and sticking to your old ways will also trammel your company’s future. Taking such risks in business is like playing tug-of-war between the pros and cons, only you are the one in the middle.
But if there is anything we have learned from the 2020 lockdown, there is always a way to circumvent change. What we have thought of as the coup de grâce to our resources turned out to be a fresh perspective through the looking glass of our day-to-day life and, of course, how we work.
Hybrid Work in Hindsight
Drastic as it was, everyone shifted to a hybrid work setup because of the COVID-19 pandemic. According to a Statista research report, the pandemic brought about changes that drastically reduced the time that organisations anticipated to be fully operational while working remotely. It only took an average of 10.5 days, as opposed to the expected 454 days. It introduced the “new normal”: where people worked from home, collaborated through Zoom and Google, and connected digitally. This is proven true by a recent report by McKinsey, which showed that COVID-19 had pushed businesses to move digitally, accelerating digitisation by three to four years. This significant leap has reopened the discussion about hybrid work and whether or not it is the future of work.
When viewed by the naked eye, hybrid work works – a lot. In fact, according to Nicholas Bloom, an economics professor at Stanford University who specialises in management practices and uncertainty, employees think of hybrid work like an 8% pay raise. Who would turn down the opportunity to attain a work-life balance, after all? They can spend as much time as they want working while staying on top of personal matters, such as the most mundane things as making a homecooked meal for the family. This privilege of flexibility helped employees to find individual comfort zones where they could be more productive and focused on their tasks. It also enhanced their time management skills as they can easily divide the tasks they can do at the office and those they can take home. Employees also reported feeling happier and having better mental health with hybrid setups.
Of course, hybrid work not only boost the employees; it also poses excellent wins for the company. Many executives worry that limiting physical connection at work would disrupt employee rapport, but it proved to be the opposite. Those with flexible work hours wanted to stay in the company, offering business owners and company leaders the solution to another worrisome phenomenon post-COVID: the Great Resignation. First reported at the beginning of 2021, the Great Resignation is a continuing economic trend wherein employees resigned en masse in search of better, healthier work environments.
Another perk worth considering is the cheaper costs. Here’s an example: in 2019, tech giant Microsoft started implementing a four-day workweek in their Japan office. They saw a 23% decline in their electricity bills after the implementation period. Since you will also be downsizing your offices for a hybrid work setup, you will also save up on your rental and real estate costs. Win-win here, right?
Will Hybrid Work Be the New Status Quo?
The answer to that is still debatable – after all, hybrid work is not a one-size-fits-all model. It still depends on your organisational culture, employee values, and work expectations. However, it is a promising venture. With how quickly things are moving today, being assertive in adapting to these changes will benefit you in the long run.
