Hybrid work fosters better business performance

Happy employees appear to contribute to a better bottom line, with 84% of businesses reaping economic benefits through a dispersed workforce, according to a new report.

IT infrastructure and services vendor NTT says that current workplace trends including hybrid models and AI are influencing employee experience (EX) strategies and showing a clear correlation between EX and business performance.

The 2023 Global Employee Experience Trends Report found that, while enablement of hybrid and remote work has a positive impact, less than half (43%) of organisations strongly agree that employees have access to the technology they need to work well both at home and in the office.

NTT says that many organisations are now implementing more structured approaches to work, with the report finding that approximately 36% of hybrid workers spend half the work week at the office. However, with hybrid models still favourable and recognised by the majority of business leaders as fundamental to positive EX, organisations need to ensure they are providing employees with the technologies they need to work effectively, regardless of location.

The company says this shows how the EX narrative has evolved over the last several years. Today, it is a business-wide priority to proactively ensure employees are empowered and have the right technologies in place to feel connected and drive efficiency.

Top-performing companies that increased their IT spending and invested in EX technology were 56% more likely than underperformers to report improved business growth due to improvements to EX, and 89% more likely than all others to have significantly increased employee satisfaction.

“The disconnect between what employees need and what businesses provide them with is still too large,” said Amit Dhingra, Executive Vice President of Network Services at NTT.

“Too often we see hybrid working strategies focusing on one type of working style, despite employees wanting the flexibility to work in a way that suits them.

“It was positive to see that 67% of organisations agree that hybrid and remote working has led to their investment in mobility over the last two years to promote flexibility, but more still needs to be done to reduce the disconnect and improve EX. This is especially true given that satisfied and engaged employees are 66% more likely to deliver exceptional customer service,” Dhingra said.

In addition to hybrid work, EX is also being impacted by the rise in AI, with the emerging technology voted as the number one enabler of future customer experience (CX) and EX strategies, and AI interfaces rising to become the norm for four in five organisations within the next 12 months. Despite this, 86% of organisations agree that human-led support remains a critical element in their customer engagement.

“NTT’s report findings are reflective of today’s dynamic work landscape, including a more permanent era of hybrid work and focus on employee engagement,” said Sheila McGee-Smith, President & Principal Analyst, McGee-Smith Analytics.

“The adoption of AI is growing, driven by the real business outcomes revolutionary AI technologies are bringing. Organisations are seeking guidance on how to harness all that AI has to offer to succeed in dominating their markets while supporting employee fulfilment and wellbeing.”

The full report is available for download here.

Image credit: iStock.com/Weedezign