What is the future of hybrid working?

A recent Utility Bidder article reveals that hybrid working offices could save businesses up to a net of £1.6bn. 

Hybrid working looks like it’s here to stay post-pandemic for a number of businesses, meaning there are changes afoot for several employers. But what does this new working model look like? How will businesses function? Is it more cost-effective in the long run?

Utility Bidder tell all. They explore how employees are perceiving the new hybrid working model, including all the positives and negatives surrounding it, as well as how it impacts business energy usage.

Is working from home the new normal?

Following the COVID-19 pandemic comes a new set of expectations in the workplace, as 72% of employees are now looking for a mix of remote and office working - something employers are beginning to come to terms with.

As organisations continue to look forward in a post-pandemic future, many will start to consider the permanent implementation of a hybrid workforce – a sentiment that is met with resounding positivity amongst employees across the globe.

What are the downsides of remote working?

It’s pretty clear that the implementation of hybrid working doesn’t appear to be going anywhere any time soon, so it’s important to be aware of the pros and cons of remote working and how it can affect your business.

Without face-to-face communication, with clients and colleagues, relationships and experiences can be less effective. The conversion from an in-office working environment to a hybrid model will also require a considerable cultural shift, which will demand more from managers and organisations to ensure the transition is successful.

What are the benefits of adopting a hybrid working model?

What if you had the best of both worlds? Hybrid working has redefined the ways in which businesses work, including how they can find and recruit new talent – the ability to hire remote employees means that businesses are no longer hindered by geographical barriers.

Utility Bidder’s report quantifies whether hybrid working is worthwhile for business owners and employees. This builds on recent research that states flexible working models offer advantageous and preferable working arrangements for businesses and the workforce since the first COVID-19 lockdown.

As such, 50% of employees say they do not want to return to the traditional full-time, office-based working model thanks to the benefits of working from home. These include increased productivity, flexible working requests, reductions in costs, a better work-life balance, and a reduced carbon footprint.

But that’s not all. The research also tells us that, if SMEs did decide to downsize offices and change to a hybrid working model, it could potentially lead to annual savings of £7,586 on utility bills. It’s fairly obvious that, as a result of adopting a hybrid working model, there’s no need to secure multiple offices with an abundance of desks and expensive hardware.

However, when implemented on an even larger scale, it can allow businesses to scale back office spaces and decrease expenditure on overheads. When you’ve determined how many employees you’ll have stationed at the office, you can optimise your space for new occupancy levels and plan to cut down costs of rent, supplies and utilities.

It can cost over an extra £4,000 each year to acquire a conventional leased property for your business, in comparison to securing a flexible office space. This means that businesses could save themselves money by acquiring hybrid workers in different regions by acquiring an office space in a cheaper location. For example, flexible office spaces in Birmingham are 53% cheaper than those in London.

Following the COVID-19 pandemic, 29% of small business owners are planning to downsize their offices, with 37% expecting to save on costs and utilities. Will you be joining them?

For more information, view the full article at Utility Bidder:

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Utility Bidder

Utility Bidder is a revolutionary service, set up to ensure customers get the best gas and electricity tariffs on their business energy.

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