In a year where over 40% of the global workforce is considering leaving their employers, technology company Microsoft has released a report that details the top trends of the hybrid work culture to help companies retain employees and attract talent.
Titled 'The Next Great Disruption is Hybrid work- are we ready?’, the report said the negative trends leaders must be aware of include high productivity masking an exhausted workforce, shrinking networks endangering innovation, leaders being out of touch with employees, and Gen-Z needing re-energisation.
“These decisions will impact everything from how you shape culture, to how you attract and retain talent, to how you can better foster collaboration and innovation,” Jared Spataro, corporate vice president for Microsoft 365, said.
Business leaders must create a plan to empower people to be more flexible, bridge the gap between physical and digital by investing in space and technology, and combat digital exhaustion from the top, the report said.
Positive trends, such as the flexible work culture, is here to stay, the report said. "Talent is available everywhere in the post-covid world. Authenticity will spur productivity and well-being,” the report said.
At 73%, a majority of workers preferred flexible remote work options, the report showed. Remote job postings on LinkedIn, it showed, increased more than five times during the pandemic.
Additionally, 46% of the respondents said they were planning to move away from their current locations as they had the option to work remotely.
“During this pandemic we’ve observed a swift acceleration of certain pre-Covid trends. But perhaps one of the most exciting trends is this rise in remote work,” Karin Kimbrough, chief economist, LinkedIn, said.
The report included responses from more than 31,000 people in 31 countries. Microsoft also said it has analysed aggregate productivity and labour signals across Microsoft 365 and LinkedIn, along with perspectives from experts who have studied collaboration, social capital and workspace design at work.
Microsoft also suggested that leaders prioritise rebuilding social capital and culture, while rethinking the employee experience to get the best talent onboard.
“As opportunity is democratised with remote work and talent movement, we’ll see a spread of skills across the country, and this is the time for business leaders to take the opportunity to access different skills and talent not previously available to them.” Kimbrough added.