As businesses across the globe adapt to new operational strategies, South African companies are increasingly turning to hybrid work to provide flexibility and efficiency.
Hybrid working – a flexible model that combines in-office and remote work, enabling employees to divide their time between a local flexible workspace, the company headquarters and home – is unlike traditional office settings that require a physical presence, and this approach is encouraging a better balance between professional and personal lives.
It maximises productivity and promotes a more sustainable work environment for both individuals and the planet.
People
The most apparent benefit of hybrid working is the improved work-life balance it offers employees. People who don’t go to the office every day spend significantly less time commuting – an activity few enjoy
A recent International Workplace Group (IWG) Hybrid & Healthy study found that commuting less allows employees to exercise 38% more and cook nutritious meals, improving their wellbeing. Not only that, but they’re also enjoying the health benefits of getting more sleep. Freed from the daily commute, workers get an extra three days of sleep a year, reducing their risk of heart disease, diabetes and strokes.
Hybrid working’s positive impact on people’s physical, mental and emotional health can translate into improved organisational performance.
What’s more, the hybrid approach opens a new world for many businesses when it comes to recruitment. No longer bound by limiting their search to specific locations, firms can begin looking beyond their usual talent pools to find true best-fit candidates for posts.
Working closer to home not only promotes a healthier lifestyle but also positively impacts mental health and stress levels. According to the same study, 66% of respondents reported good mental health due to the hybrid work model.
Profit
As companies reduce their need for large, permanent office spaces, the demand for flexible workspaces grows. This trend opens a door of opportunity for building owners, property investors, and landlords.
The rapid growth in new locations is being driven by property owners and partners seeking to capitalise on the burgeoning demand for hybrid working. Many of these property owners have vacant space to fill due to the decline in demand for traditional office real estate.
Hybrid working gives companies the financial flexibility to invest in their staff and grow the business instead of the buildings in which they operate.
“In our experience, businesses that opt for a fully equipped workspace, with everything from furniture to super-fast WiFi provided, often see an immediate halving of their property costs, releasing capital to invest in generating stakeholder value”, says Joanne Bushell, IWG.
Hybrid working can offer a significant saving on office space, providing a further boost for the bottom line. A study by EY shows that companies can save close to ZAR 200,000 for each employee who works in a hybrid manner, while organisations including Lloyds Banking Group and HSBC have stated they will make this move to Hybrid work to make better use of office space.
According to Accenture, 63% of organisations with high-growth characteristics have enabled ‘productivity anywhere’ workforce models. For business leaders, the key is that happier employees with improved well-being are more likely to stay with an organisation longer. This has a knock-on effect in terms of potential cost savings.
Planet
Another fundamental reason why the hybrid working model has gained substantial support in recent years is related to the agenda of the ESG (environment, social, and governance). The environmental benefits of companies adopting the hybrid model are significant.
Buildings currently account for 40% of society’s energy use, and a single unused desk generates a tonne of CO2 each year (the equivalent of driving a car 9 700 km). In South Africa, the contribution of transport to national energy-related CO2 emissions is estimated to be approximately 14%. Road transport is responsible for approximately 90% of transport emissions and 90% of total fuel consumption in transport.
Our recent study with sustainability experts, Arup, found that an average worker’s carbon footprint can be reduced by as much as 70% by moving away from daily commutes and working locally some of the time. A traditional five-day commute into a city centre has the most significant carbon footprint of all.
Hybrid work can deliver considerable environmental benefits, ranging from reduced carbon emissions and energy consumption to decreased waste generation and resource conservation. By embracing remote collaboration and promoting sustainable practices, companies can contribute to a greener, more sustainable future for all.