Recent studies by the International Workplace Group (IWG) has found hybrid and remote working models have assisted Australians in dealing with the cost of living crisis, with a staggering 61 percent indicating that they wouldn’t be able to afford to give up working in the hybrid way.
The Australian Hybrid Workers Survey, released earlier this week, found that three-quarters of those surveyed save money from hybrid working and find their stress levels have reduced. 77 percent attribute their wellbeing to hybrid working models.
There is certainly an attachment to the model, with 56 percent of respondents indicating they would likely resign from their job if they were required on-site in a full-time capacity. 71 percent have seen a spike in their own productivity, with 59 percent reporting a more positive relationship with their employer and family and friends.
“With cost-of-living pressures, a tight labour market and economic uncertainty continuing into 2024, retaining valued employees is more critical than ever,” says IWG Country Head for Australia, Damien Sheehan.
“This latest research reaffirms the importance of prioritising your team’s physical, mental, and emotional wellbeing and the significance of supporting employee benefits and training.”
As for those with families, over half (57 percent) of those who are parents believe hybrid working has helped to manage childcare arrangements. In comparison, 35 percent of working parents say that lacking the ability to work flexibly has led them to consider leaving the workforce.
IWG estimates that employers save approximately $14,300 per employee via hybrid working models. Sheehan believes the year ahead will see hybrid working models adopted further throughout Australia.
“Hybrid working is a win/win for employees and their employers and has radically redefined how we work,” he says.
“Businesses that embrace this evolution will not only draw in top talent but also maximise the potential of their teams, all while streamlining their own bottom line.
“This momentum is set to prevail in 2024, as a growing number of businesses and employees grasp the evident advantages – financial, cultural, and sustainable – that flexible working models can offer.”
