Nine in 10 CEOs advocate hybrid as the future of work, and 75% have seen increased productivity in the model

15 July 2024: New research has revealed that nine in 10 CEOs have adopted hybrid working (91%), with three quarters saying this has led to an improvement in productivity (75%) and staff retention (76%).

The latest C-Suite-focused study, undertaken by International Workplace Group among more than 500 CEOs, also found that the vast majority (74%) said that asking employees to be in the office full time was not a business priority.

This research is in line with findings from previous International Workplace Group reports, which examine the attitudes and experiences of C-Suite leaders regarding hybrid work policies. The latest report notes that 100% of HR leaders believe hybrid work leads to a happier and more loyal workforce.

Improved employee engagement and staff retention

The research highlights the range of benefits business leaders are experiencing due to hybrid working, particularly around company culture—which three-quarters agreed had improved since its adoption. They also noted widespread improvement in employee engagement (77%) and more efficient collaboration between teams and colleagues (75%).

These results support the findings from research undertaken earlier this year by The Bank of England, Stanford University, King's College London, and Nottingham University, led by renowned economist and academic Professor Nick Bloom. The study found that for every day a firm's employee worked in a hybrid model, that firm's productivity was around $19,000 higher than that of those that didn't.

Attracting a wider pool of talent

As CEOs continue to see the upside of this approach, and hybrid becomes a non-negotiable for many employees, offering flexibility in working patterns is now a crucial tool for organisations in attracting and keeping top talent.

The study revealed that over seven in 10 CEOs (73%) agreed that hybrid work has enabled them to attract and hire the best talent. Furthermore, offering employees greater autonomy over when and where they work has also allowed businesses to access a much broader pool of talent, with 71% of CEOs saying they can consider and subsequently offer roles to a more diverse range of candidates.

Investing in hybrid work for the future

Whilst a handful of companies are mandating employee presence in the office five days a week, this study revealed that most leaders (74%) say returning to the office full-time is not a priority for their business moving forward, recognising that such policies could impact staff retention, and that hybrid working positively impacts their productivity. Nearly two-thirds (65%) believe they would lose talented people if they insisted on their employees being in a central office daily.

So, rather than focusing on asking their people to endure unnecessary long and expensive commutes to central offices, most business leaders are choosing to invest in the future by enhancing and improving hybrid working equipment and facilities. A unanimous 94% had invested in new technology to improve their hybrid experience in the past year, with 43% saying this had been their top investment in the last 12 months.

As the ongoing investment in hybrid working accelerates, the potential for further growth is exponential—with an estimated 1.2 billion white-collar workers globally and a total addressable market of more than $2 trillion.

According to leaders of companies across industries, co-working spaces continue to support company culture and employee satisfaction. Separate International Workplace Group research found that CEOs of hybrid businesses have seen increased employee happiness, improved employee productivity, and higher employee retention and attraction since implementing hybrid work. Almost three-quarters (74%) of those surveyed also reported that their companies are expected to operate in a hybrid model in five years.

Mark Dixon, Chief Executive Officer of International Workplace Group, commented: "The uptake of hybrid working is continuing to increase as companies of all sizes understand its importance in creating an optimal environment for the business's productivity and the happiness of its employees to thrive.

Furthermore, this latest research convincingly demonstrates that CEOs appreciate the critical role that hybrid working plays in attracting and retaining the highest-quality talent.

International Workplace Group, the world's largest provider of hybrid working solutions with brands including Spaces and Regus, added 867 new locations globally last year to meet the growing demand for hybrid working.

​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ - END - ​

Notes to editors ​

*Research among 500 CEO participants in June 2024 by Censuswide. Censuswide is accredited by the Market Research Society (MRS), and the research adhered to MRS guidelines. ​

About International Workplace Group PLC ​ ​ ​

International Workplace Group is the global leader in hybrid work solutions and workspace brands. We create personal, financial, and strategic value for businesses of every size, from some of the most exciting companies and well-known organisations on the planet to individuals and the next generation of industry leaders. They all harness the power of International Workplace Group's hybrid working platform to increase their productivity, efficiency, agility, and market proximity. ​ ​ ​

International Workplace Group's unrivalled network coverage includes approximately 4,000 locations across more than 120 countries, and 83% of Fortune 500 companies are amongst our growing customer base. ​ ​ ​

Through our brands, including Regus, Spaces, HQ, and Signature, we help millions of people and their businesses work more productively. We provide the world's leading hybrid work platform with professional, inspiring and collaborative workspaces and digital services, all available via the International Workplace Group app. ​ ​

For more information , visit www.iwgplc.com ​ ​

​

​ ​