Is hybrid working here to stay?

Hybrid working policies have become a vital lifeline amidst the cost-of-living crisis as many Brits would simply be unable to afford to commute to work five days a week. Not only that, but financial stress has intrinsic links to poor mental health, and allowing employees flexibility and the ability to work from the comfort of their home is vital in mitigating this.

Echoing this sentiment, findings from Theta Global Advisors’ landmark hybrid working study uncovered that over half of the population now do not want to work in an office, five days a week and with normal hours, with a further 40 per cent stating that this would hinder their performance.

This is especially relevant amidst one of the most difficult recruitment markets on record, and employers will have to remain forward thinking in their offerings if they are to retain staff. The importance of this was also highlighted in the report, which found that a staggering 41 per cent of the workforce are considering leaving their jobs in the next year due to a lack of flexible or hybrid working options.

The fact that such high importance has been placed on these initiatives means that any companies intending on revoking them could be met with a mass exodus of talent.

Chris Biggs, CEO and founder of consultancy and accounting disruptor Theta Global Advisors comments: “Whilst it’s great to see that hybrid working has been embraced post-pandemic, there are concerns that these initiatives may be slowly phased out by some firms that believe they harm productivity.

“In my view, they have rightly become a necessity especially amidst a cost-of-living crisis which is putting further strain on employees’ finances and wellbeing. The ability to work a few days a week in the comfort of your home makes a considerable difference in mitigating both the cost of travel and work-related stress.”

“Our research clearly shows that employees are seeing hybrid and flexible working as being non-negotiable, even stating that they are willing to leave their current jobs in search of better offerings in these areas.

“In such a competitive recruitment market, any firms looking to retract such policies could be met with a mass exodus of talent. In light of that risk, I suspect it is very unlikely we will see a large number of companies aiming to return to the pre-pandemic style of working.”

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