CEOs embrace hybrid work model, report increased productivity

New research from International Workplace Group has revealed a significant shift towards hybrid working among business leaders. The group's study, which surveyed over 500 CEOs, found that 91% now operate with a hybrid work model. Of these, 75% reported increased productivity and 76% experienced improved staff retention since implementing such policies. Additionally, 74% of the CEOs indicated that returning to the office full time is not a priority for their businesses.

The research underscores broad improvements in company culture, with three-quarters of CEOs noting enhancements since adopting hybrid work. Employee engagement has notably risen, with 77% of CEOs observing this trend and 75% noting more efficient collaboration among teams and colleagues. This aligns with previous International Workplace Group findings, which have consistently highlighted the positive impact of hybrid work on workplace satisfaction and loyalty.

In Singapore, this trend is further echoed. Ahead of new Tripartite Guidelines on Flexible Work Arrangements (FWAs) coming into effect in December, 37% of companies have started implementing hybrid work policies. Studies indicate that 67% of workers in Singapore currently enjoy some form of work flexibility. This move towards flexible working arrangements is becoming essential for talent attraction and retention, with 48% of hiring managers stressing its importance.

The research also found that employees working onsite full time are the most likely to seek new employment, with 56% actively looking for jobs compared to 41% of hybrid workers. This statistic suggests companies that fail to offer flexible work options risk losing valuable talent.

With hybrid working becoming a fixture in the corporate world, companies are investing heavily in technology to support this model. According to the study, 94% of CEOs have invested in technology to enhance their hybrid work capabilities in the past year, with 43% marking it as their top investment priority. These technologies aim to improve the overall hybrid work experience for employees and ensure seamless collaboration and communication.

CEOs are also recognising the role hybrid working plays in expanding their talent pool. The survey found that 73% of CEOs believe hybrid work has enabled them to attract top talent, while 71% have been able to consider and hire candidates from more diverse backgrounds. This access to a broader range of candidates is seen as essential for maintaining competitive edge and fostering inclusive workplace cultures.

Singapore's labour market dynamics further support the need for flexible work arrangements. A separate study highlighted that nearly half of hiring managers emphasised the necessity of work flexibility for talent attraction and retention. The data also showed a significant disparity in job search activity between full-time onsite workers and their hybrid counterparts, pointing to the growing demand for flexible work setups among employees.

Looking ahead, hybrid working is expected to remain a strategic priority for businesses. The International Workplace Group's research found that the inclination towards maintaining hybrid working models is likely to persist, with many companies planning to operate this way for the foreseeable future. The focus on employee well-being and operational productivity underscores the ongoing shift towards more adaptive working environments.

The move toward hybrid working reflects broader changes in workplace dynamics, driven by the need for flexibility, improved job satisfaction, and enhanced productivity. Businesses are increasingly recognising that hybrid work models not only meet employee needs but also contribute to organisational success. As this trend continues, the emphasis on equipping employees with the right technology and support systems will be integral to maintaining a thriving hybrid workforce.

Mark Dixon, CEO of International Workplace Group, commented on the findings, stating, "The uptake of hybrid working is continuing to increase as companies of all sizes understand its importance in creating an optimal environment for both the productivity of the business and the happiness of its employees to thrive. This latest research convincingly demonstrates that CEOs appreciate the critical role that hybrid working has in not only attracting but retaining the highest quality talent."