Hybrid Work Revolution: 72% of Business Leaders Back Flexible Future

Published On : 08/22/2024

Speakers Corner survey reveals key insights on work-life balance and productivity in UK businesses

(London, United Kingdom), Thursday 22nd August 2024: A recent survey of UK business owners and directors has uncovered significant trends in workplace productivity and employee well-being, with a strong focus on work-life balance and hybrid working models. The findings emphasise the growing importance of work-life balance and flexible working arrangements in today’s business environment, with 72%[1] of business leaders surveyed recognising the benefits of hybrid work models. Furthermore, the statistics surprisingly show a consistency of opinion across different age groups of business owners and directors.

The nationwide survey, commissioned by Speakers Corner, drew responses from 500 business owners and directors with at least 20% equity, for companies with at least 100 employees. Key findings include:

Hybrid Work Models Support Work-Life Balance

• 72%1 of surveyed business leaders agree that a hybrid workstyle offers employees greater work-life balance.
• 38% strongly agree with this statement, while only 5% disagree[2].

Age-Related Perspectives on Work-Life Balance

• 57% of business leaders surveyed aged 45-54 and 59% of those aged 18-24 prioritise work-life balance and employee well-being.
• Slightly fewer (53%) of those aged 25-34 share this focus.

Underutilised Strategies for Productivity Improvement

• Less than 30% of business leaders surveyed consider the following strategies to enhance workplace productivity:

• Reducing employee turnover (28%)
• Adapting to neurodivergent individuals’ needs (27%)
• Streamlining decision-making processes (26%)
• Exploring outsourcing opportunities (26%)

Gender Differences in Promoting Work-Life Balance

• 59% of female business leaders surveyed encourage work-life balance and employee well-being to boost productivity.
• In comparison, 51% of male business leaders surveyed adopt this approach.

Nick Gold, Managing Director, Speakers Corner, said; “Whether we like it or not, it’s evident that hybrid work models are here to stay. What’s particularly interesting is that our survey findings highlight the consistency of opinion across different age groups of business owners and directors. Whether you’re looking at Gen-Z leaders in their early 20s or Gen-X leaders in their 50s, there’s a shared understanding of the importance of work-life balance. Ultimately, this generational alignment suggests that flexible working arrangements are becoming a universal expectation in the modern workplace, transcending age barriers.”

The survey also revealed potential areas for improvement in addressing employee needs and optimising workplace productivity, such as reducing employee turnover and boosting inclusivity. These low percentages (all under 30%) suggest that many business leaders may be overlooking these strategies as ways to improve productivity and address employee needs.

“So why is this important? If leadership teams look at how they can address employee needs this will go some way towards retaining valuable employees longer, shaping a welcoming and productive environment for all employees, improving decision-making processes, and accommodating diverse working styles.

Jessica Weisman-Pitts

Jesse Pitts has been with the Global Banking & Finance Review since 2016, serving in various capacities, including Graphic Designer, Content Publisher, and Editorial Assistant. As the sole graphic designer for the company, Jesse plays a crucial role in shaping the visual identity of Global Banking & Finance Review. Additionally, Jesse manages the publishing of content across multiple platforms, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.