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Close to seven in 10 CEOs surveyed believe that insisting on full-time office presence could lead to losing talented employees.
About 91% of CEOs surveyed recently have adopted hybrid working in their workforce, with 75% reporting improved productivity and 76% noting better staff retention.
The recent C-suite-focused study by the International Workplace Group, surveying over 500 CEOs, also revealed that 74% do not consider full-time office attendance a business priority.
This, it was noted, aligns with previous reports, which highlight that 100% of HR leaders believe hybrid work fosters a happier and more loyal workforce.
Below are some key findings derived from the study:
Benefits of hybrid work
Company culture: 75% of business leaders reported improved company culture due to hybrid work.
Employee engagement: 77% saw increased engagement from employees.
Collaboration: 75% noted better teamwork and collaboration.
Talent attraction: 73% of CEOs believe hybrid work helps attract top talent, and 71% say it broadens the talent pool.
Trends highlighted
Hybrid adoption: 37% of companies surveyed in Singapore are currently implementing hybrid work arrangements.
Flexibility: 67% of workers in Singapore enjoy some level of flexibility in their work.
Productivity gains
According to prior studies cited in the survey, firms using hybrid models have productivity levels worth $19,000 higher per day than those that do not.
Employee retention and satisfaction
According to the survey, 56% of employees working full-time in the office are actively seeking new jobs, compared to 41% of hybrid workers.
In that vein, 65% of CEOs believe that insisting on full-time office presence could lead to losing talented employees.
Investment in hybrid work
Among the CEOs surveyed, 94% said they have invested in new technology to enhance the hybrid work experience in the past year. Of these investments, 43% focused on improving hybrid work facilities.
Looking ahead, more than seven in 10 (74%) CEOs expect their companies to operate in a hybrid model in five years.
READ MORE: Hybrid working helps improve women’s career growth: Survey
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