Embrace Hybrid Work Or Lose Talent: The New Workforce Reality

Excerpt from forbes.com

According to a recent survey conducted by job site Monster, more than one in four (26%) US workers would rather undergo a root canal procedure than work in their offices five days a week. Additionally, nearly two in five (38%) workers said they would quit a job that required just one day onsite. These staggering statistics reveal a clear shift in workers’ attitudes towards the traditional office environment, and companies that fail to adapt to this change risk losing their most valuable asset: their employees.

As a highly experienced expert in the field of hybrid work, I talk with 5-10 leaders every week about how to make hybrid work serve their needs well. I ask them what their top concern is, and most say it’s hiring and retaining talented staff.

External surveys say the same thing, such as a recent survey by Vistage of the leaders of small and medium-sized businesses. It found that 60% of SME CEOs are planning to increase headcount in the year ahead, with only 7% planning on reducing headcount. According to Vistage Chief Research Officer Joe Galvin, this is a significant shift from the trend of big companies making headlines with layoffs, as small and medium business CEOs are reluctant to lay off their hard-won new employees. One key reason for this shift is the recognition that hiring challenges are impacting the ability of these businesses to operate at full capacity. With 61% of CEOs saying that hiring challenges are a major concern for their ability to operate effectively at full capacity, it’s clear that companies are committed to winning the talent wars. Moreover, given the US unemployment rate is at 3.5%, the lowest since February 2020 at the start of the pandemic, the labor market is clearly very tight and it will take a lot to change the situation.

 

READ MORE HERE