Augusta Business Daily

Wednesday, June 7, 2023

Workplace Wednesday: The Hybrid Boost: Flexible Working Brings Benefits in Challenging Economic Times

A study by the International Workplace Group (IWG) reveals how CFOs see hybrid working as an essential cost-cutting measure.

Over the last few years, companies around the world have increasingly been switching to a hybrid way of working, as the ability to free people from the dreaded commute became more important than ever.

Now, with the help of IWG, millions of people are being empowered to work more effectively, efficiently, and happily, by splitting their working hours between their company headquarters, a local flexible workspace, and their home.

But it isn’t just employees who can benefit from this people-centric way of working. The latest research from IWG has revealed how hybrid working can help companies mitigate some of the effects of the global economic downturn, offering a way to cut costs at a time of financial uncertainty.

In a survey of 250 leading CFOs, IWG found that more than nine out of ten believe an economic crisis is inevitable, and as a result, nearly all have started implementing, or plan to implement cost-cutting measures. Two-thirds said they are targeting a reduction of more than 10% on facility spend, and more than four-fifths (82%) regard hybrid working as a way to achieve their cost-cutting targets.

“Not only does Hybrid support the work-life balance and wellbeing of employees, but it provides a meaningful boost to a company’s bottom line, both through productivity gains and also through real estate economies,” says Mark Dixon, Founder and CEO of IWG, which helps more than eight million customers around the world work the hybrid way with its portfolio of ten unique brands, including Regus, Spaces, Signature, and HQ.

Independent research by Global Workplace Analytics shows that on average, hybrid working can save organizations more than $11,000 per employee per year. In the IWG study, more than half of CFOs said they believe their workforce prefers a hybrid model, and 87% agreed that it is more affordable for employees at a time when the cost of living is rising.

IWG opens its first location in Aiken, Regus at 600 Trail Ridge Road, bringing hybrid working to the local community, and flex space options that suit any type of business. Regus delivers high-spec, traditional office environments, meeting rooms, coworking, and virtual offices.

Businesses of any kind or size can choose from a range of IWG membership options, whether they’re a multinational company with thousands of employees (IWG already works with 83% of the Fortune 500) or an SME. Coworking desks, meeting rooms, and private offices can be booked for any number of hours, days, or months via the handy Regus or Spaces apps. What’s more, members can make use of IWG’s global network, with access to 3,500 locations across more than 120 countries.

Find out more about how IWG’s hybrid work solutions can support you and your business at iwgplc.com.

Discover how Regus’ hybrid work solutions can support you and your business at Regus.com.

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