The dynamic Ms Yogita Tulsiani is armed with a Master’s in Business Administration from ISB, Hyderabad. The versatile businessperson has more than a decade of experience in Business Development and Consultancy across various industries in the UK, USA, Europe and APAC. Her repertoire includes an illustrious clientele in the Financial Services, Telecom, Retail, Information Technology and Learning industries like Genpact Headstrong and HP.
Organizations quickly shifted to remote working practices after the Covid-19 epidemic first appeared in March 2020. Most of them have now conceded, two years later, that the transition from offices to remote work is permanent. Future work will likely follow a hybrid working model where on-site and remote labour coexists. Organizations are calling workers back to the office as the pandemic subsides, albeit with the benefits of a hybrid working paradigm.
A hybrid work style is becoming more common in organisations around the world, driven by the pressing demand. Nearly 90% of organisations expect to combine remote and on-site working styles in the future, according to a McKinsey report. Hybrid work is also being promoted as the standard working model by 2024. Let’s explore the causes of the Hybrid 2.0 gold rush.
Talent proliferation & acceleration
Many organizations are facing the requirement to rapidly and broadly hire personnel in order to support their steep growth paths. The effective proof of concept for remote work is enabling organizations to expand their talent pools beyond those that are physically accessible. Based on the jobs’ remote-ability, a hybrid work model enables organizations to access previously untapped talent pools. Due to the ongoing talent scarcity, businesses can affordably hire professionals from wealthy nations like the US and Europe as well as talent from smaller locations. Additionally, hybrid work makes room for gig workers and independent contractors.
Place & time flexibility
Organizations and employees have the freedom to focus on either place or time when using a hybrid work paradigm. Employees are no longer restricted to their workplace desks and can now work from anyplace. This inevitably ensures a better work-life balance and commuting time savings. Similar to this, some businesses have moved in the direction of time by allowing their staff to work asynchronously. Employees can so choose their own working hours when they feel most productive, rather than being restricted to the 9 to 5 schedule. The ability to work from anywhere and at any time can help employees reach their full potential.
There is no doubting that organisations have been open to Hybrid 2.0 because to the productivity improvements that came with the remote work era. Organizations are giving their employees the ability to work from any location at any time as long as they are still productive in an effort to duplicate the same productivity and performance. Companies are rewarding high-performing workers with benefits related to remote and hybrid work. In order to boost production, executives are also asking staff with lower output to work on-site under their supervision.
The key to unlocking the future of work does not reside at either of the extremes—remote-first or office-first—but rather in the middle. Hybrid 2.0 gives businesses the freedom to operate remotely, reach a bigger pool of candidates, and save money on real estate. The social structure of the workplace, as well as the culture and collaboration it affords, supports hybrid work arrangements. Organizations that are on the edge of a new paradigm now have the option to rethink their work and workforce; tomorrow, it might be required.