Flexibility is the name of the game when it comes to working accommodations, as a new study found that job listings featuring “hybrid work” are notably on the rise, while “remote work” and “work from home” are on the decline.
The business world has gone through substantial changes over the last few years, with the pandemic dramatically shifting the dialogue around commuting and in-office jobs.
While the return-to-office movement has been pushing for a return to normal, employees have enjoyed the freedom so much that hybrid jobs have become an increasingly standard practice for businesses looking to attract top talent.
Hybrid Jobs Increase, Remote Work Decreases
According to a report from GlobalData titled Global Hiring Activity – Trends & Signals, the term “hybrid work” has seen a 29% increase in job listings since last year.
“Overall interest in hybrid roles has remained intact as companies seem to be trying to strike a balance between complying with return-to-office requirements and offering work flexibility as well. Businesses across certain industries are weighing more on offering flexibility in work, resulting in an uptick in hybrid roles.” – Sherla Sriprada, business fundamentals analyst, GlobalData
However, while fully remote positions still allow businesses to take advantage of top talent across the world, the terms “remote work” and “work from home” have actually decreased year-over-year, which signals the effectiveness of the return-to-office movement that has left some employees ready to quit their jobs for more flexible accommodations.
The Value of Remote and Hybrid Work
Whether you believe in-office work is more collaborative or just want to stop wasting money on office rent, the push to get employees back to their commutes has been strong. Still, what many business owners don't realize is that remote and hybrid work remain effective perks that can improve productivity, increase revenue, and attract top talent.
For one, a Tech.co study found that 47% of businesses noticed an increase in productivity when allowing employees to work remotely. Another study found that performance was boosted by 22% at businesses that implemented flexible work policies.
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Remote and hybrid work can also be a good way to make sure your team is filled with the best of the best, as flexible work accommodations remain one of the top priorities of job applicants in 2023. In fact, some employees have noted that they would even take a pay cut if it meant keeping remote or hybrid working policies in place.
The Return to Office Backlash
Not only is promoting remote and hybrid work policies a boon for most businesses, but the inverse can actually be detrimental to your bottom line, particularly if you rush the decision. 80% of business owners wish they took more time and had more data before announcing return-to-office mandates.
If you really want to make retention a priority at your business, a return-to-office mandate is likely not the best way to go about it. One study found that 76% of employees would quit if hybrid work was taken away.
The increase in hybrid work job listings should be a big indicator of your future strategy. While fully remote work may be on the way out for a lot of businesses, getting rid of the popular perk entirely is not advised and will likely have a negative impact on your business.
