Hybrid working has many benefits, including increased employee satisfaction, better retention of talent and it can help you save costs.
Adapting to hybrid working can also help businesses save costs in the following ways:
Reduced office space costs
Businesses can save a significant amount of money on office space by allowing employees to work from home some of the time. In fact, a study by Global Workplace Analytics found that companies can save up to $11,000 per employee for every day that they work from home.
In addition, by utilising flexible furniture, such as acoustic pods like we did at Stickyeyes, it saves the need to build private offices within the space and can also be re-used or moved elsewhere, if the company moved spaces or had a re-design.
Reduced travel costs
Businesses can save money on travel costs by allowing employees to work from home some of the time. This is because employees who work from home do not have to commute to and from the office, which can save them time and money on transportation costs.
Reduced furniture costs
Businesses can also save money on furniture costs by having fewer employees in the office. This is because offices with fewer employees need less furniture, such as desks, chairs, and filing cabinets.
Reduced equipment costs
Businesses can also save money on equipment costs by having fewer employees in the office. This is because offices with fewer employees need less equipment, such as computers, printers, and scanners.
In addition to the direct cost savings, hybrid working can also lead to indirect cost savings. For example, businesses may see a decrease in absenteeism and turnover when employees are allowed to work from home. This is because employees who are able to work from home are more likely to be happy and productive, which can lead to a more positive work environment.
These cost savings mean that you can invest in other parts of the space, for example, it is becoming more common to invest in social spaces so that when the staff are in – the collaborative atmosphere is not lost, and so that your staff do not loose touch completely with your culture and business.
Our latest work with IRG Executive Search saw us fitting a kitchenette so that when staff are in, they can all eat lunch together and have a social space to hang out in. This helps to keep a good company culture, and to ensure that the staff do feel part and involved in the business, whilst working from a hybrid working model.
Overall, hybrid working can save businesses a significant amount of money. As the world continues to recover from the COVID-19 pandemic, hybrid working is likely to become the new normal for many businesses.
Team building and collaborative spaces are becoming increasingly crucial in agile working environments. These working spaces encourage experts from different disciplines to work together to create innovative solutions to novel problems.
This glossary has been created and will be regularly updated to include and explain the meaning of any new and emerging keywords that we use regularly so that you can talk to us with the confidence you deserve.
Create a happy workplace that boosts motivation, performance, and collaborative culture. Officeinsight shares simple tips for designing enjoyable office workspaces.