The Cost of Avoiding Hybrid Work

In recent years, an increasing number of companies have recognized the value of allowing their employees to work remotely, whether from home, while traveling, or wherever they may be. This newfound flexibility has become particularly prevalent, given the recent pandemic context. The concept of the traditional workplace has evolved into a network of spaces and services that can adapt to individual living situations. However, despite the numerous advantages of remote work, there are still some companies hesitant to embrace the hybrid work model.

Before the pandemic, in most cases, the work model was imposed by companies, guided by cultural and budgetary issues, or by traditional work dynamics and internal policies. However, the events of the last two years forced the entire world to work from the safety of their homes, creating the need for a mandatory pilot program for remote work that unveiled the benefits and functionalities of this measure.

With this context, the priorities and demands of employees have also changed. Before the pandemic, having open spaces and comfortable workplaces were considered the two main elements for face-to-face work; today, having the necessary infrastructure to interact virtually and having safe work spaces are considered fundamental elements for the development of the face-to-face model. Now, an increasing number of companies are allowing their employees to choose the work scheme that best suits their needs.

Today, daily commutes have become lengthier, consuming valuable time and exacerbating stress levels among employees. It is not merely a matter of hours lost behind the wheel or on public transport, but also the negative impact on mental and physical well-being. The stress associated with commuting can disrupt work-life balance significantly. In fact, providing the option to work from anywhere or allowing a mix of face-to-face and remote work, thereby reducing commuting frequency, fosters employee commitment to the company, resulting in a more content and dedicated workforce. In addition to promoting the mental health of employees, the hybrid scheme has had a profound and positive impact on other transcendental factors for people's quality of life.

On the other hand, a hybrid work model empowers employees by granting them autonomy and flexibility. When staff members have control over how, when, and where they work, their confidence and loyalty are strengthened in ways that were previously unattainable in a traditional office environment. Without adequate support systems in place, companies risk facing challenges related to motivation and engagement, ultimately leading to decreased productivity rates.

Despite the advantages, the hybrid model brings with it several challenges as well. The merging of work and personal life spaces, changes in family dynamics and the loss or reduction of contact with work teams have meant that, on occasions, the increase in flexibility is closely linked to the increase in workload.

Moreover, companies that resist embracing a hybrid work model tend to experience reduced office occupancy rates, resulting in underutilized spaces for extended periods. As businesses strive to strike a balance in the new era of work, hybrid models present solutions like desk sharing and remote work, allowing the assignment of fixed office spaces to each employee and thereby reducing unnecessary costs. By providing flexible workspaces equipped with the essentials for a healthier work environment, companies can optimize their resources.

Also, In terms of attracting and retaining talent, the absence of hybrid and flexible work schemes has proven to be a costly endeavor. A recent study conducted by WeWork in collaboration with Page Resourcing sheds light on the situation in Latin America, revealing that a staggering 77% of individuals highly value the freedom to determine which days they spend at the office for the purpose of team collaboration and which days they work remotely. Furthermore, an overwhelming 78% of respondents express their willingness to switch jobs if offered a job with greater flexibility. This underscores the paramount importance of the work model, currently ranking as the second-most decisive factor among the Top 3 reasons why individuals, especially millennials and centennials, choose a company.

It is crucial to recognize that by disregarding the benefits of hybrid work, companies may incur avoidable productivity costs, including employee turnover rates, commuting time, and the wastage of office spaces. Failure to adapt to current and future work models in a timely manner can lead to a precarious position for companies attempting to navigate the evolving landscape. 

In today's dynamic business landscape, companies are confronted with the imperative to reduce costs by minimizing staff turnover, retain top-tier talent, and optimize operational expenses. To achieve these goals while ensuring sustained levels of staff productivity, organizations must proactively adopt a hybrid work model, encompassing a seamless blend of remote and in-person work options for their employees. Failing to embrace this strategic approach leaves companies swimming against the tide, confronted with the stark choice of either adapting to the evolving employment landscape or sinking to their current position at the bottom. By embracing the transformative power of hybrid work, businesses can unlock new opportunities for success and future-proof their operations in an ever-changing world.