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What ‘Great Resignation’? Why hybrid work is key to retaining top talent

The IWG Australia Hybrid Workers Survey, conducted in late 2023, reveals a high level of satisfaction with hybrid working arrangements and a strong connection between flexibility and employee well-being. The report identifies long commutes as a major pain point, potentially leading to resignations and declining job acceptance. It also highlights the financial benefits of hybrid work, with cost savings and improved work-life balance playing a significant role. Other key findings include:

  • Hybrid working is highly desired: 82% of respondents are happy with hybrid options, and 76% believe it has reduced stress and increased happiness.
  • Long commutes are detrimental: 56% are likely to resign with a 5-day office commute, and 36% wouldn’t take a new job with it.
  • Financial benefits are substantial: 75% agree they save money with hybrid work, and 61% see it as non-negotiable.
  • Work-life balance thrives: 79% experience improved work-life balance, contributing to overall happiness and well-being.
  • Hybrid work benefits families: 57% of working parents see it as crucial for childcare management, and 54% have more family time due to reduced commutes.
  • Hybrid work boosts productivity and career: 72% feel more productive and 61% see improved professional development with hybrid options.
  • ESG integration is desired: 78% believe hybrid work policies should be part of company ESG plans.

Overall, the survey paints a clear picture of hybrid work’s popularity and its positive impact on employee well-being, productivity, and financial goals. Companies offering and supporting flexible work arrangements are likely to attract and retain talent in the current competitive market.

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