Microsoft has released the findings from its first annual Work Trend Index. Titled ‘The Next Great Disruption is Hybrid Work – Are We Ready?’ the report uncovers seven hybrid work trends every business leader needs to know as we enter this new era of work, indicating that business leaders should resist the urge to see hybrid work as business as usual.
“The world is on the brink of a disruption as great as last year’s sudden shift to remote work: the move to hybrid, a blended model where some employees return to the workplace and others continue to work from home. Adapting to this new hybrid model will require rethinking of long held assumptions. The choices you make today will impact your organization for years to come. It’s a moment that requires clear vision and a growth mindset. These decisions will impact everything from how you shape culture, to how you attract and retain talent, to how you can better foster collaboration and innovation,” noted Rosalind Quek, General Manager, Modern Workplace, Microsoft Asia.
The study revealed the following trends:
1. 47% of workers in Asia are likely to consider changing employers (versus the 41% global average) and 56% are likely to consider a career change (versus the 44% global average). In Japan, this number is much lower, with only 38% of workers likely to consider changing employers within the year.
2. 35% of workers in Asia experienced decreased interactions with co-workers (versus the 40% global average).
3. 55% of remote workers in Asia and 50% in Australia and New Zealand say they are more likely to be their authentic selves at work compared to last year (versus the 44% global average).
4. While 63% of workers in Japan say their productivity levels have remained the same compared to last year (versus the 40% global average), 48% of workers are feeling exhausted (versus 39% global average) and 45% feeling stressed (versus the 42% global average).
5. 61% of workers in Australia and New Zealand think that their employer cares about their work life balance (versus the 50% global average).
6. 50% of remote workers in Australia and New Zealand are likely to move to a new location because they can now work remotely (versus 46% globally).
To help organizations through the transition, the 2021 Work Trend Index outlines findings from a study of more than 30,000 people in 31 countries and analyses trillions of aggregate productivity and labor signals across Microsoft 365 and LinkedIn. It also includes perspectives from experts who have studied collaboration, social capital and space design at work for decades.
Seven global hybrid work trends to know:
• Microsoft is urging businesses to recognize that work is no longer bound to traditional notions of time and space when it comes to how, when and where we work.
• 73% of workers surveyed want flexible remote work options to continue, while at the same time, 67% are craving more in person time with their teams.
• Research shows that 61% of leaders say they are thriving right now, 23% points higher than those without decision making power.
• 54% feel overworked. 39% feel exhausted. Australia and China were the only two countries where weekly meeting time didn’t triple YOY.
• 60% of this Gen Z (between ages of 18-25) say they are merely surviving or flat out struggling. Aggregate trends across billions of Microsoft Teams meetings and Outlook emails show interactions with our broader networks diminished with the move to remote work
• Coworkers leaned on each other in new ways to get through the last year. 1 in 6 (17%) has cried with a colleague, especially those in healthcare (23%), travel and tourism (21%) and education (20%).
• Nearly half (46%) of those surveyed are planning to move to a new location this year, indicating that people no longer have to leave their desk, house or community to expand their career opportunities.
Additionally, the Work Trend Index identifies five strategies:
Create a plan to empower people for extreme flexibility
Invest in space and technology to bridge the physical and digital worlds
Combat digital exhaustion from the top
Prioritize rebuilding social capital and culture
Rethink employee experience to compete for the best and most diverse talent
Karin Kimbrough, Chief Economist, LinkedIn stated, “During this pandemic we’ve observed a swift acceleration of certain pre-COVID trends. But perhaps one of the most exciting trends is this rise in remote work. As opportunity is democratized with remote work and talent movement, we’ll see a spread of skills across the country and this is the time for business leaders to take the opportunity to access to different skills and talent not previously available to them.”