A recent survey by International Workplace Group (IWG) indicates that nine in 10 CEOs and CFOs are increasingly adopting hybrid working models to tackle macroeconomic instability. The study, which surveyed over 1,000 global executives, highlights that 86% are taking proactive financial measures, with hybrid work being a key strategy to reduce costs and enhance business resilience.
The survey found that 83% of business leaders believe hybrid working is crucial for cost savings, with 77% already experiencing reductions in overheads such as office space and utilities. This shift allows companies to redirect resources towards growth and manage economic uncertainties more effectively. In Singapore, where small and medium-sized enterprises (SMEs) form the backbone of the economy, businesses are also leveraging hybrid work to navigate rising operational costs and talent shortages.
Hybrid work is not only a financial strategy but also a means to improve employee satisfaction and productivity. According to the survey, 88% of leaders report increased employee satisfaction, whilst 83% note measurable productivity gains. Mark Dixon, CEO and Founder of IWG, stated, “By empowering their teams to work closer to home in local workspaces and offices, companies operating in the hybrid model are able to significantly reduce their costs and improve the work-life balance of their people.”
As companies continue to face economic headwinds, hybrid working models are being recognised for their long-term strategic value, offering a sustainable approach to workforce management that extends beyond mere cost savings.
“`
