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Market Bytes - February 26, 2024

Kinetik’s Future of Work Survey

Recently, we ran a survey for Human Resources and Talent Acquisition heads across Digital organizations within our network in South East Asia, to help us understand perceptions and trends in relation to prevailing workforce models.

The burning question seems to be whether companies are reverting to being more office based, hybrid, or completely remote as we emerge fully into the new norm.

As such, we posed a host of survey questions and here are the results.

 

 

1. Which model is currently the most popular?

77.8% already own a physical office and 85.2% of these are already working to a hybrid work model, which highlights the overwhelming popularity of this approach in the current climate.

 

 

 

2. Do we project changes over the course of the next 6-12 months?

The prevailing view seems to be that it’s impossible to predict precisely how things will look in the future. To compound matters, many employers are uncertain if their company’s work arrangement will change in the next 6-12 months with 70.4% answering “Maybe”! This highlights the tentative nature of the current climate and the need to be cautious about making bold claims regarding the future of work.

 

The hybrid approach is here to stay and the majority of employers are hoping for this to be the prevailing workplace model.

 

 

3. What are the key success factors for implementing a hybrid workplace model?

a. Strong culture

Having a strong culture across the workforce is critical, which entails common goal alignment, integrity across the board and consistency of approach. 

 

Organizations need to look into cultivating a stronger culture where people can rely and trust one another to do their part, no matter where they are geographically located

 

b. Correct mindset

Having the right “Mindset” is a close second with 59.3% of respondents selecting this. The mindset aspect can be defined as being productivity focussed, with a healthy ‘grown up’ approach and a culture built on trust.

 

Despite the survey demonstrating that most of us welcome the idea of a hybrid workplace, there is still work to be done on the ‘why’ aspect, which needs defining and communicating. Things have changed dramatically over the last 2 years. The pandemic showed us that we can be as efficient, if not more so, by allowing people flexibility if done the right way.

 

Furthermore, as a result of the pandemic, businesses were forced to look into how they’ve been operating and realized some functions and work streams can be sustained remotely. As such, it’s particularly helpful to identify which parts of your business activity operates best in the office and which can be sustained via a hybrid model.

 

c.  Leadership

It’s critical to communicate the ‘why’, when committing to new workplace practices.

 

Having the right leadership approach will determine success, which is linked to how leaders communicate and, in turn, cultivate trust across the workforce.

 

In conclusion, the hybrid working model seems to be the ‘people’s choice’ and it’s definitely here to stay. As such, as a business leader, it’s imperative to be posing the right questions, which should include: ‘Is our business prepared for the ‘future of work?’.

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