The business world we once knew has long since passed, and ever since the emergence of remote workplaces due to the health and safety hazards brought about by Covid-19, we’ve seen many new trends rise and fall, resulting in a new normal that’s far from what the typical business life was like before the global pandemic. From the mass migration of enterprises, both big and small, onto the digital platform to the sudden surge of tech stocks and the widespread adoption of cryptocurrency, no one can deny the changing business landscape the world resides in right now.
However, the most prevalent trend that’s currently taking the business world by storm is the growing inclination toward hybrid workplaces. While a hybrid model is not a novel concept, it’s now bound to become the norm in businesses for the foreseeable future. So, today we’ll be going over what implications this hybrid workplace trend has on small local businesses.
From Remote Work To Hybrid Work
It all started at the front-end of 2020 when everyone was forced to work remotely out of concern for health and safety. And while first impressions on the dramatic shift had people clamoring to go back to their typical work environment, people soon realized the benefits to working from home, such as a flexible schedule that would enable more connection with the family and create further opportunities for self-fulfillment. As a result, we are now transitioning to hybrid work that would allow employees to work from home or back in their office.
- An Irreversible Impact Of Covid-19: The looming threat of Covid-19 and its health risks are still felt very strongly to this day. One irreversible impact it has created is the rationalization of more health-conscious thinking. While the vaccination rollout programs have been successful and more people are on track to receive the vaccine, no one’s taking their chances and would prefer to stay at home and strictly observe social distancing guidelines.
- The Best Of Both Worlds: A hybrid workplace offers the choice of working remotely or in an office, and this workplace model will allow the best of both worlds. Those who would prefer to work at home where they feel most productive and capable won’t have to force themselves to go out. And those who need the work environment to enable their productivity won’t have to be forced to stay at home.
#1 Greater Talent Pool
Firstly, local businesses have always been limited to local talent and the immediate workforce. While this does strengthen the local economy and encourage stronger relations within the community, it also hampers their work productivity. However, with a hybrid workplace, local businesses can extend their reach and access a greater talent pool while keeping the current talent they’ve employed.
Furthermore, decentralizing their operations will open more room for strategic partnerships, such as local restaurants connecting with an online advertising agency or local beauty products working with an outsourced aesthetic brand marketing company. As a result, local businesses can benefit from partnerships that would help grow their brand and increase their engagement with other markets.
#2 Cost Savings On Physical Locations
Secondly, there’s no denying that local businesses were hit the hardest when it came to the incurred expenses and obligations from shutting down their doors, with many of which were forced to close indefinitely and file for bankruptcy. However, a hybrid workplace will allow cost savings on physical locations and allow them to use their working capital for other important projects to restructure their business, such as designing more versatile and efficient offices.
Moreover, both employees and business owners will save on fuel and transportation costs because those who choose to work remotely won’t need to commute. It also cuts down the lost time spent in traffic, essentially earning the business even more money.
#3 Increased Work Productivity
Last but not least, work productivity will skyrocket because employees will be operating on flexible work hours. Slowly but surely, the hybrid workplace trend will diminish the typical 9-5 mantra of day jobs and usher in an era of high-productive work and high-value time. And this means local businesses can help promote work/life balance for their employees without suffering any loss in performance.
Likewise, we can also expect business leaders to play a more active role in driving workplace engagement because effective management will be key to success. And collaboration will become necessary to avoid any form of digital exhaustion and enable their employees to work in optimal conditions.
Understanding The Future Of Work
Three years ago, the idea of a hybrid workplace would’ve been ridiculed because people preferred the separation of the home and work environment, but how the times have changed. And while this shift toward the mix of remote and in-house employment may appear difficult, we must understand the future of work, especially local businesses so that we can capitalize on the new advantages it can provide.