Navigating the Future of Work: Insights from Microsoft's Hybrid Work Study (Part 2)
Navigating the Future of Work: Insights from Microsoft's Hybrid Work Study (Part 2)
Written by: Paula Antalffy 4-5 minute read
As hybrid work becomes the norm, diverse perspectives among employees and leaders present significant challenges. Microsoft's recent study, involving 20,000 participants across 11 countries, delves into the intricacies of hybrid working, outlining three urgent pivots for leaders.
In this blog, we explore the study’s key findings, providing crucial insights into the future of hybrid work.
Within this article we delve into the second half of the report, looking at key findings from the survey, and what Microsoft recommends as the best plan of action for key ‘pivots’ in making hybrid working work.
🔍 Don't miss Part 1 of this series, where we delved into the first of these key pivots.
Pivot 2: Rebuilding Social Capital
As organisations grapple with the challenge of bringing employees back to the office, a crucial lesson emerges: people come in for each other. Many companies are struggling to overcome setbacks, when it comes to their ongoing plans for returning to the office.
One-size-fits-all policies have fallen short, prompting leaders to rethink their strategies. Microsoft’s survey data underscores that rebuilding social connections is a powerful motivator for employees to embrace in-person work.
Key Stat: 73% Demand More Than Company Expectations
While 82% of business decision-makers express concerns about getting employees back to the office, a staggering 73% of employees state that they need a more compelling reason than mere company expectations to return.
Motivators for In-Person Work: Social Connection Rules:
The promise of socialising with colleagues serves as a strong motivator for 84% of employees, while 85% are motivated by the prospect of rebuilding team bonds.
A sense of familiarity also increases motivation to return to the office. Knowing that their direct team members (73%) or work friends (74%) will be present encourages employees to visit the office more frequently.
Generational Dynamics in Workplace Connection:
Among Gen Z and Millennials, connecting with senior leadership (78%) and direct managers (80%) in person stands out, underscores their desire for a robust workplace community.
The Social Capital Imperative
Microsoft’s study also revealed that 68% of business decision-makers acknowledge that ensuring cohesion and social connections within teams has been a moderate/major challenge due to the shift to hybrid work.
Approximately half of employees feel their relationships outside their immediate work group have weakened (51%), and 43% feel disconnected from the company as a whole. These two stats are especially alarming, in a wider landscape, where social connections and workplace culture are often key factors in employee satisfaction and engagement.
Technology as a Companion to In-Person Engagement
While the office plays a vital role in rebuilding social capital, technology is equally crucial in maintaining connection. Effective communication is paramount, with 96% of business decision-makers and 95% of employees deeming it a critical skill for the year ahead.
Intentional Hybrid Working: So how can we become more social?
Microsoft’s report shares three key suggestions for helping embrace a socially motivated return to the office:
Prioritise Team Bonds: Utilise in-person time to help employees rebuild team bonds and networks.
Digital Employee Experience: Build a digital employee experience to ensure connectivity, regardless of physical location.
Modern Communication Tools: Establish a digital community with modern communication tools to fuel conversation, enable self-expression, and connect leadership with employees.
In summary, organisations that actively foster team bonds, both in person and through digital means, are poised not only to overcome the challenges of the return to the office but also to create a resilient and connected workforce.
Pivot 3: Re-focus on Learning and Growth
Amid economic challenges, organisations face the imperative to re-recruit, re-onboard, and re-energize their workforce.
Microsoft’s data emphasises that the ability to learn and grow is pivotal in retaining employees. In today’s tight labour market, employees are increasingly driven away from the traditional career ladders, towards job-hopping, the creator economy, side hustles, and entrepreneurship to fulfil their career aspirations.
Business leaders, who are effectively tackling employee retention head-on, are turning to new tactics, prioritising in-house and on-the-job training to keep their teams motivated and energised.
Generational Dynamics: The Rise of Entrepreneurial Aspirations
Younger generations are increasingly drawn to entrepreneurship, with 76% of Gen Z and Millennials aspiring to be their own boss. They are more likely to stay longer if given flexibility for side projects (77% vs. 66%).
Gen Z employees are also more flexible in changing their workplace. On LinkedIn, this generation transitions from one job to another 22% more often, than their Millennial counterparts. This signals a dynamic shift in how employees of the future will view their workplaces as a long-term career.
The Hunger for Growth Opportunities
Both employees (56%) and business decision-makers (68%) express a shortage of growth opportunities in their companies. A concerning trend emerges as 55% believe changing companies is the best way to develop skills.
Internal Mobility: A Retention Powerhouse
Employees express a strong desire for easier internal job changes (68% overall, 73% Gen Z, 73% Millennials, 65% Gen X). People managers (75%) and business decision-makers (77%) see it as a powerful retention tool.
Interestingly, Microsoft’s study reveals that preferences lean towards lateral moves offering new skills over vertical progression. This insight unveils a nuanced aspect of employees' aspirations, indicating that the inclination to acquire new skills is driven more by a broadening of one's skill set than a rapid advancement in one's career.
The Learning-Retention Nexus
Learning and development support is a key driver for employee retention, with 76% expressing they would stay longer with such support.
Business decision-makers (83%) show an even higher inclination towards learning and development. Employees rank opportunities to learn and grow as the #1 driver of great work culture, highlighting its critical role.
Strategic Actions for Organizations
To address the imperative of learning and growth, Microsoft suggests 3 key actionable steps:
Embed Learning in the Employee Experience: Bring resources and learning experiences into the flow of work to address the skills gap.
Prioritise Internal Mobility: Encourage a mindset shift towards internal mobility, viewing careers as climbing walls or playgrounds.
Create an Internal Talent Marketplace: Establish an environment fostering skill growth, career advancement, and purpose alignment.
In essence, prioritising learning and growth emerges not just as a retention strategy but as a formula for organisational success. Neglecting this imperative could pose an existential threat in the ever-evolving landscape of work.
The Future of Work: Guiding Tomorrow with myday
In the dynamic realm of hybrid work, business owners face ongoing challenges. However, modern, innovative solutions like the myday app are poised to enhance the transition to a more intentional work culture, providing effective support along the way.
With integrated social features, the app promotes camaraderie, fostering social connections essential for a successful return to the office. The app’s built-in social support group features allow employees to create communities around shared passions, problems and life experiences.
What’s more, myday's offering of concrete well-being metrics enables organisations to measure and enhance employee satisfaction. This direct measurement not only simplifies evaluations but also guides informed decisions, aligning individual employee happiness with overall success.
Beyond the workplace, myday's global impact initiatives reward employees contributing to well-being and community-building. This aligns businesses with broader sustainability goals, emphasising a commitment to compassion and equity.
In the face of cultural shifts, myday is more than a tool; it's a commitment to crafting thriving workplaces. It navigates the necessities of inclusivity, connectivity, and continuous growth, serving as a compass in the new era of work.
myday paves the way toward a future where success intertwines with the well-being and empowerment of every individual.
You can learn more about the myday app by booking a call with our team today!
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