Poly (NYSE: POLY) today released a new report examining how organizations respond to employees’ demand for ideal work spaces and work styles. The new Poly study, Recruit, Retain and Grow, analyzes work policies, culture, and wellness through the lens of over 2,500 global business decision-makers, of which 102 Indian companies participated.
The Poly commissioned study found three major work trends that were commonly shared among 16 countries:
- Recruitment and retention are at risk: Globally, over 59% of organizations believe that if they don’t address their hybrid work processes and plans, they’ll lose staff and will be unable to attract new talent; 74% of Indian employers agree with this trend.
- Strategy and equality for hybrid workers are areas of concern: Less than half, 48%, of all organizations globally and in the APAC region are fully prepared for hybrid working, while 37% of global companies are prepared only in the short term. In India, the statistics are slightly higher than the worldwide average, with close to 63% of Indian employers responding that they are fully prepared for hybrid work.
- Productivity has increased since the shift to hybrid work: 72% of the companies that were surveyed globally saw an increase in productivity due to the change to hybrid work. The productivity increase in APAC region was slightly higher than global average (74%). In India, close to 86% of the surveyed companies reported increased productivity levels since the shift to hybrid working.
Talking about the research, Ankur Goel, Managing Director for Poly India & SAARC, said, “The Recruit, Retain and Grow research clearly shows that hybrid work is here to stay. Companies that want to thrive in the hybrid world of work need to develop strategies that appeal to employees who want to be in the office and those who prefer to work remotely or in a hybrid manner. Having an employee-first approach focused on the employee experience is key to winning in the hybrid workspace.”
Indian employers speak up about hybrid work
The survey insights in India showcase how the pandemic has shifted priorities for organizations and their employees. Several employers have raised concerns about retaining staff in a hybrid work set-up. As per the report, the top reasons exiting employees disclosed for leaving their job over the last six months include:
- 22% of employees wanted more flexibility around any time, hybrid or remote working
- 17% believed that their career progression had stalled
- 10% of employees felt like they lacked work-life balance
In addition, the Indian companies surveyed reported that employees should have the flexibility to choose the way they work, with over 90% of employers agreeing that employees should be given the right to request flexible working from day one.
Additionally, Indian companies are worried about the long-term impact on employee wellness due to the shift to hybrid work. For example, 54% of the surveyed companies reported that employers worry about an unhealthy culture of overworking and agree that culture and workforce wellness trends during hybrid working needs to be relooked.
Speaking about wellness during hybrid working, Ankur Goel added, “Companies are aware of the dangers of pushing their employees too hard. With hybrid work, it has become more difficult to protect employees’ time, as there are fewer physical interactions, and managers can’t monitor working hours as easily as they could when people are in the office. Overwork and burnout are real dangers, so companies must find a way to address these potential problems before they start to lose staff.”
Equality and Evolution – Key to Recruit, Retain and Grow in the Hybrid Era of Work
According to Poly’s research, technology and experiences are viewed by a majority of companies as the face of the company and not the office space alone (64%). Expanding the quotient of spaces available rather than defining whether the space is virtual, offsite, remote, or hybrid will help employers develop a robust hybrid work strategy.
- Equalize virtual experiences through meeting equality
- Forward-looking companies in India are investing in software and devices equally, with cloud applications and collaboration software at 94% and headsets, cameras, and speakerphones at 92%, 95%, and 94%, respectively.
- Equalize office experiences through redesign
- 84% of Indian companies are redesigning their office with more open plan areas, collaboration spaces, quiet zones, and socializing areas.
- Another interesting finding from the report reveals that while companies are looking to downsize spaces on the global level, 41% of Indian companies are looking to move to larger spaces to accommodate more people who might be looking at working from the office regularly.
For more information on Poly’s Recruit, Retain and Grow study, please visit: https://www.poly.com/in/en