95% of SMEs Planning to Retain Their Hybrid Work Policy

A recent Expert Market survey has found that 95% of SMEs are not planning to change their current hybrid working policy.

This has increased from 83% back in 2020. 

Key findings of the survey: 

• 99% of respondents witnessed positive benefits of remote/hybrid working. 

• 12% of respondents witnessed negative aspects of remote/hybrid working.

• 95% of respondents have no plan to change their current hybrid work policy.

The survey also found that 39% of the businesses surveyed have no strict policy on attendance, allowing employees to work in the office when it suits them.

This contrasts with many large businesses and corporations forcing their staff back to the office. Companies recently calling their employees back to the office include Zoom, HSBC and Facebook. 

The move to return to the office is unpopular with employees, many want to retain their flexible working hours and shorter commute time.

The average office worker spends 55 minutes commuting to work per day, with an average annual cost of $8,466 according to Bankrate.com.   

By offering a more flexible work environment, SMEs will be able to retain staff and attract better talent in comparison to larger companies with a stricter work policy. This will give SMEs a competitive edge when looking to hire new talent. 

With the lack of evidence that in-office working is more productive than remote, the move seems counterproductive for many firms, with the risk of losing staff high.

For companies planning to keep their remote or hybrid structures long-term, it is essential to have the correct tools to ensure communication and collaboration. These tools might include project management platforms and VoIP technology. Slack was found to be the most popular communication tool, with 67% of survey respondents stating they used it. 

The Editor of Expert Market, Nick Francis, comments:  

"Expert Market’s survey exposes the fact that when it comes to hybrid working structures, the benefits far outweigh any cons for SMEs. Primarily, hybrid working allows smaller businesses to compete for talent against bigger, more rigid competitors that may be unwilling to offer staff flexible work schedules.

Not only does hybrid working offer cost savings to staff, but it also presents businesses with an opportunity to reduce overheads; perhaps by moving to smaller premises, or using coworking spaces instead of renting office space.

Of course, to take advantage of the benefits of hybrid working structures, SMEs must invest in the right technologies to maintain productivity and growth.“

Additional information: 

• Expert Market is a leading business solutions provider, with over a decade worth of experience. 

• The survey was conducted in August using 130 CEOs and decision makers from SMEs across Northern America and Europe.