Recent studies have revealed that hybrid work arrangements can help boost employee retention, but more guidelines for this type of work need to be established.
Companies must set clear expectations and guidelines for remote and hybrid work, consistent even when leadership changes. However, Mercer’s survey of 749 organizations in the US found only 34% have formal rules for managing flexible work, with 48% relying on informal guidelines and 17% having no policies. This lack of clear expectations can affect recruitment and retention. Furthermore, Fishbowl surveyed 7,300 professionals about their understanding of their company’s hybrid work plan and found that 50.8% understood, but 49.2% did not.
Additionally, while large companies face layoffs, a Vistage study revealed that most small and medium-sized enterprises (SMEs) are expanding their workforce. Hiring difficulties are a significant concern, with 61% of surveyed CEOs of SMEs citing it as a primary concern. Hiring experts believe that hybrid work arrangements boost retention, per IWG’s HR Leaders & Hybrid Working Report.
Poor guidance harms worker engagement, leading to high turnover and difficulty attracting talent. Thus, effective hybrid work guidelines should include clear communication, collaboration, time management expectations, security and strategies for fostering employee engagement. With clear guidelines, companies can avoid costly data breaches and employee disengagement. However, policies should also be flexible and updated regularly to reflect changing demands and needs.