15th March, 2024
This latest podcast episode of Fiscal Therapy features Damien Gooden, Group CEO at HR Central, and focuses on the topic of attracting and retaining talent in hybrid working environments.
Gooden emphasises the importance of taking a personalised approach to hybrid working, considering both the needs of the business and the individual employees.
The shift towards hybrid working was accelerated by the COVID-19 pandemic. Many businesses, including HR Central, were forced to adapt to remote work at short notice.
However, now that the initial shock has passed, organisations have the opportunity to reassess their approach to hybrid working and consider what will work best for both the business and its employees.
A key point is the importance of understanding the personal circumstances of employees when determining their preferences for working remotely.
Factors such as living arrangements, family responsibilities, and home office setups can greatly impact an individual’s attitude towards working from home.
For example, someone living in a spacious home with a dedicated office space may prefer remote work, while someone in a shared living situation or with young children at home may find it more challenging.
Businesses have to consider what the company needs, as well as what individual employees want and need.
By taking a personalised approach to hybrid working, organisations can ensure that employees are satisfied and able to effectively carry out their responsibilities, regardless of their work location.
There has been a noticeable shift in priorities for employees, who are now placing a higher value on flexibility in their work arrangements.
This flexibility includes the ability to work remotely, choose their own workdays, and have control over their work-life balance. Employers are also recognising the importance of offering flexible work options in order to attract and retain top talent.
For businesses to stay competitive they need to be seen to be offering similar flexibility to what their competitors are providing.
Employees are now more likely to choose an employer that offers the flexibility they desire, rather than simply following the money.
This shift in mindset emphasises the importance of organisations adapting to the changing needs of their workforce in order to remain relevant and retain their employees.
Businesses are now reimagining their office spaces as social hubs for collaboration and engagement, rather than simply places to work. This shift reflects the importance of creating environments that foster collaboration and connection among employees, even as they work remotely or in a hybrid fashion.
Face-to-face interactions allow for the establishment of rapport, the exchange of non-verbal cues, and the opportunity for organic conversations that may not occur in virtual settings.
This is especially relevant in training and onboarding processes.
The ability to observe and learn from experienced colleagues in person can be invaluable for new employees, as they can pick up on subtle cues and behaviors that may not be as easily conveyed through video calls or phone conversations.
Additionally, face-to-face interactions can help to foster a sense of belonging and connection within the team, which is essential for employee engagement and retention.
While face-to-face discussions are important, the impact of hybrid working models on working hours and timeframes also needs to be considered.
In a traditional office setting, there is often a set schedule of working hours, usually 9am-5pm.
However, in a hybrid model where employees have the flexibility to work remotely, there may be a shift in how and when work is completed.
It is important for organisations to establish clear boundaries and expectations around working hours to ensure that employees are able to maintain a healthy work-life balance.
One of the main benefits of flexible work schedules is the ability for employees to have more time with their families or in their personal lives.
By allowing employees to adjust their work hours to avoid long commutes, they can start and finish work earlier or later, but still have additional time at each end of the day. This can lead to increased work-life balance and overall well-being for employees.
However, the downside of this flexibility is the potential for employees to struggle with disconnecting from work. Without a designated workspace at home, some employees may find it challenging to set boundaries and end their workday.
This can lead to burnout and negatively impact their mental health. It is important for employers to ensure that employees have the resources and support they need to maintain a healthy work-life balance.
It’s crucial then, to have clear communication and boundaries in remote work arrangements.
While some employees may enjoy the flexibility of working at different times during the day, it is essential for employers to establish guidelines and expectations to prevent overwork and ensure that employees are not working outside of their designated hours.
This may require revisiting contracts and agreements to align with the changing nature of work in a hybrid environment.
Success is often seen as the achievement of a specific goal or reaching a certain level of wealth or status.
However, the idea of success can be instead framed as an ongoing journey rather than a destination.
By continually engaging with others, making a positive impact in the world, and always striving to improve oneself, success is not just about work-related achievements.
It becomes about personal growth and making a difference outside of the workplace, whether through volunteering or spending time with loved ones. By constantly seeking to learn from others and contribute to the greater good, individuals can find fulfillment and gratitude in their lives.
Continuous improvement involves constantly challenging oneself to do better, learn more, and make a positive impact on those around them.
By setting goals, seeking feedback, and being open to new experiences, individuals can continue to grow and evolve in both their personal and professional lives.
Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.