Uncategorized PDFs

3 THE SOURCE | THE EXECUTIVE'S GUIDE TO THE HYBRID WORKPLACE other commitments that are much harder to juggle with a commute to work and a fixed schedule. Not all employees want to work remotely, either. They might not have an environment at home where they can be productive. You can't always control interruptions from kids, roommates, pets, and solicitors. And you can only spend so many hours at local coffee shops. Despite the popularity of working from home, it's not for everyone. With a hybrid workplace, that's OK. Employees who want to come into the office, collaborate with colleagues in-person, and access all the equipment and amenities on campus can do so, and people who can be productive at home can do that, too. An all-or-nothing approach to a virtual workplace will always negatively affect some employees. Hybrid models increase employee satisfaction and wellness by making both environments an option so employees can work in the ways that are ideal for them. Many businesses have found that they can save so much space with a hybrid model that they can actually downsize their offices, sublet floors, or reconfigure their space in a way that allows them to significantly reduce occupancy costs. Reduce your real estate portfolio If a percentage of your workforce is virtual, you don't need dedicated space for them all. You will likely need some hoteling space so that remote employees can reserve workstations, offices, or collaborative areas as needed, but, ultimately, you don't need as much space as you would with a fully in-person workforce. Many businesses have found that they can save so much space with a hybrid model that they can actually downsize their offices, sublet floors, or reconfigure their space in a way that allows them to significantly reduce occupancy costs. Real estate is usually one of an enterprise's top expenses, and even minor changes can have major implications for your budget. Even if implementing a hybrid model doesn't allow you to make reductions right now, it will make the space you have last longer. As your company grows and you need to add teams, departments, or types of spaces, you'll already have some flexibility to reconfigure your current space instead of just being stuck paying for more. Access a greater pool of talent In a traditional workplace, the further you are from large talent pools (such as major cities and large universities), the harder it is to hire the employees you need. Opening the door to remote work means that your business won't be limited to local talent or people who are willing to relocate to your area when you need to fill positions. This is extremely valuable whether you have locations in cities with a high cost of living or more remote (and perhaps less desirable) areas. It also helps if you're in competitive regions where major companies keep

• Cover