As Dolly Parton would famously sing and what has been a staple of the American workweek since Henry Ford mainstreamed it in the 1920s, “Workin’ 9 to 5” has gone out of style like a pair of cargo shorts, and supplanted with the hybrid work model.
Bidding farewell to the 9-5 workweek is not just a simple changing of schedules but a profound transformation to how we work in the modern era where flexibility and morale is key and prioritized, replacing the relic that has had so many pulling their hair out in frustration and screaming “Why are we still doing this?”
Coveting a future where the lines between work and life are blurred, and productivity is redefined, more and more companies see the writing on the wall and are ushering in the new era. With several video millennials and Gen Z becoming more and more of the workforce, work-life balance is shown to be their top priority and they prefer the hybrid work model. The National Bureau of Economic Research produced a research paper that showed the hybrid work reduces turnover by 35%. The model works.
According to a Zippia study, 74% of companies are already using or plan to implement a hybrid work model. Employees working in the office full-time has already decreased by 42% in the second quarter of 2023 which is down nearly 50% from the first quarter, as stated by The Flex Report.
“It certainly looks like hybrid is gaining share,” Robert Sadow, CEO and co-founder of Scoop Technologies told TIME Magazine. “There’s an adoption cycle like any other technology—you have early adopters and laggards.”
The report also shows that 90% of companies are just requiring 2-3 days of in-office work. Juggernauts such as Google, Amazon, Citigroup, IBM, Microsoft are just some of the notable names to adopt the method which puts them ahead of competitors in attracting talent.
Despite an IWG survey that showed 80% of CEOs say hybrid work saves the company money, there are still those fighting progress as is often the case with dramatic change. The KPMG 2023 CEO Outlook which surveyed over 1,300 CEOs, shows that 64% of CEOs are trying to return to pre-pandemic norms which as the data shows is absolute madness. It’s a stubborn and futile attempt to fight change and one has to speculate the only reasoning for this is that it’s a threat to those six figure execs whose role is simply to babysit those in cubicles, or it’s just comforting to those who want the status quo.
Regardless, the 9 to 5 relic is going to die out. Future generations will enjoy knowing nothing but remote or hybrid work without any memory of the days of old. Either companies will adapt or die out. That’s why it’s paramount that companies embrace change. If they are unsure of how to efficiently make the transition then seek out a coworking firm. The coworking industry is nearly $20B industry and is expected to grow to 36,000 flexible workspaces by 2025. There were only 18,000 in 2019 before the pandemic hit.
“The hybrid work model is the future of work,” said Workspace Strategies President Karen Condi. “It encourages productivity, connects the community, and the flexible workspace industry continues to show that it’s financially beneficial to both employers and to those in the workforce across a variety of industries.”