5 ways in which hybrid working can save costs for businesses

The term “Hybrid working” has become a popular go-to for business leaders in strategising how their workplaces will work post-Covid.

Hybrid working essentially refers to a mix between the two extreme work styles of knowledge workers: remote working, which over the pandemic was primarily at home, and office-based working, where workers are primarily desk based at a central office. Remote working can also take place coffee shops, neighbourhood coworking spaces and other “third spaces”.

For employees, the exact balance of how much time is spent working at the office, vs home or elsewhere, is something that will differ per organisation, and is also very much based on the individual preference and personal situation.

Global studies show that the majority of people would prefer to be in the office for more time than they’re not, with at least one to two days working from home per week.

A hybrid way of working, if set up and managed well, can have multiple benefits for organisations, individuals and for the bottom line.

Benefit 1: Shared desking

Space costs money to lease, fit out, and service.

With people spending less time in the office, the opportunity arises for shared desks and thus less space leased and serviced. It may be possible to set up your space in a way that optimizes a smaller number of facilities while still providing all the tools and amenities required for your people to do their work. This means a system of shared facilities, such as shared desks and meeting rooms, and a tech-based booking system.

Shared facilities need to be managed well. Hot desking has been shown to cause stress and reduce productivity, so if desks are to be shared it’s vital to set up a good rotation system (who may come into the office when) as well as a friction-free desk- and facility-booking system.

Benefit 2: Outsourcing your occasional-use facilities

Changing your thinking about how and where work gets done also means changing your thinking about how and where your occasional-use facilities are set up

The hybrid workplace is essentially about managing access to facilities.

By offloading larger office facilities that are less frequently used, like auditoriums and training rooms, it’s possible to save on your overheads, and only pay for what you need when you need it. This could be done by downsizing your property lease, either through renegotiating with your landlord, or relocation to a smaller space.

How do you know what you don’t need? A good space management system can show you, through technology based analytics, how your space is being utilized, and what space is going to waste.

Using nearby conference centres, coworking spaces or even neighbouring business’ space for occasional town halls, training or overflows can prove more cost effective, as well as convenient when many have built-in hospitality such as catering and additional parking.

Benefit 3: Generating better outputs

Employee autonomy means greater wellbeing and productivity

The benefits of hybrid working for employees include flexibility, autonomy, and for many, the ability to focus without distractions. Working from home allows greater levels of personal privacy and control over one’s space and time, another benefit leading to better wellness and productivity. Key to success in this way of working is in balancing the need to be private and focused, with the need to connect with others in the business.

Giving employees choice as to how and where they get their work done is also empowering, demonstrating trust in the individual. and leads to better employee engagement. Recent Gallup studies show that higher employee engagement can boost business productivity by 17% as well as decrease absenteeism by 41%. High-engagement organisational cultures have shown 21% higher profitability.

Benefit 4: Saving on hiring costs

Your organisational culture is a tool for talent attraction and retention

For many employees, the opportunity to work from home means occasional freedom from not having to commute or dress up, more variety in their day to day environment, and a better work-life balance.

A hybrid work culture is both empowering to employees and can be a differentiator in the market. A recent Gallup report stated that 53 percent of employees said a role that allows them to have a greater work/life balance is “very important” to them.

In a recent Gartner report, 75% of employees said that a workplace focused on their health and wellbeing would make them more likely to accept a new job or keep the job they have.

Hybrid working requires a strong organisational culture high on trust and communication. It’s important to make sure yours evolves to support this.

Benefit 5: Reducing the losses in response to disruption

A hybrid working culture can help your business to be more adaptable to change

The hybrid way of working means it is possible to be working in various different environments as the worker moves between them. There’s a mindset shift that brings the focus to the work and the support needed to complete that task, project or assignment. This is a much more meaningful and engaged way of working compared to the “clocking in” mindset of the static office.

In times of uncertainty hybrid working can help you set up your culture to be more adaptable to change, reducing the risk of disruption and lost productivity when things change again, which they no doubt will.

Considerations

The hybrid workplace looks different for every organisation, and can change and evolve over time.

With a hybrid workplace it is possible to have fewer, better facilities and a happier, more engaged workforce. But it’s imperative that you set up your systems well if your business is to reap the benefits.

Hybrid working can be fantastic for businesses and people in many ways, if it’s set up well. Short cuts though, are not recommended and can lead to frustration, conflict, confusion and extra costs.

What have your experiences been with the hybrid working transition so far? I’d love to know.