The new normal: Deciphering the blueprint of hybrid working
Hybrid work is here to stay. Companies that want to thrive in the new normal need to develop strategies for both employees who want to be in office and those who prefer to work remotely or in a hybrid manner. This is the broad sentiment that emerges from a new Poly study, Recruit, Retain and Grow, that analysed work policies, culture, and wellness at over 2,500 global business organisations, of which 102 were Indian companies. Poly (formerly Plantronics and Polycom) is a well-known firm in the video, voice and content solutions space.
The study found three major work trends in 16 countries:
Recruitment and retention are at risk: Globally, over 59% of organisations believe that if they don’t address hybrid work issues, they’ll lose staff and will be unable to attract new talent; 74% of Indian employers agree with this view.
Strategy and equality for hybrid workers areas of concern: Less than half (48%) of all organisations globally are fully prepared for hybrid working, while 37% of global companies are prepared only in the short term. In India, close to 63% of Indian employers responded that they are prepared for hybrid working.
Productivity has increased since the shift to hybrid working: 72% of the companies saw an increase in productivity due to hybrid working. In India, close to 86% of the surveyed companies reported higher productivity levels.
“Having an employee-first approach is key to winning in the hybrid workspace,” said Ankur Goel, MD for Poly India & Saarc. The survey highlights how the pandemic has changed priorities for Indian entities and their employees. While several employers raised concerns about retaining staff in a hybrid work set-up, the top reasons cited by employees for leaving their job over the last six months include:
- 22% of employees wanted more flexibility around time and place of work.
- 17% believed that their career progression had stalled.
- 10% of employees felt like they lacked work-life balance.
The survey said over 90% of Indian employers agreed that employees should be given the right to seek flexible work from day one. 54% of firms expressed worries about an unhealthy culture of overworking, saying culture and workforce wellness trends for hybrid working need to be relooked.