As the new year unfolds, a significant portion of the workforce contemplates job changes. Workplace strategy emerges as a crucial factor influencing these decisions, with 73% of employees expressing a willingness to seek alternative employment if faced with a 100% in-office mandate.
New year, new job. Many people view the start of the year as a fresh beginning, an opportunity to set new professional goals and find an employer that aligns with their aspirations. In the UK alone, 40% of the workforce are expected to move jobs in 2024¹.
Workplace strategy has emerged as a key influencer in job selection. People’s preferences and what is important to them in terms of the workplace has changed. An intentional, people-centric workplace strategy can retain top talent, contribute to employee satisfaction, and ultimately impact the overall success of a business.
Companies that align their strategies to the evolving needs and preferences of their workforce are more likely to attract and retain top talent in an increasingly competitive job market.
Flexibility and Culture are Key
The latest research by The Instant Group of over 200 workspace occupiers shows that in-office mandates and poor company culture are most likely to negatively influence staff retention. A whopping 73% of employees would seek alternative employment if given a 100% in-office mandate, and 59% would change jobs in search of a better company culture.
% represents the percentage of employees who indicated that the workplace factor would definitely influence their decision to change jobs.
With such a high number of employees feeling repelled by in-office work, it’s somewhat surprising how companies are increasingly mandating employees to return to the office. Still, global office utilization has remained relatively stable at an average of 29% throughout 2023², revealing that in-office mandates aren’t very widespread.
So, what is it that people really want in terms of the workplace? If given full choice over where to work, our research shows that ideally people want to spend 42% of their work week in the company office, with the rest split between coworking spaces and the home office. However, the time spent in each setting is highly influenced by role, gender, and commute time.
Creating an Ideal Hybrid Ecosystem
Blanket policies have challenges. Companies need to move away from focussing solely on physical assets and ensure they have a clear understanding of their employee dynamics. Only then can they create an ecosystem of purposefully selected spaces which will not only boost talent retention and employee satisfaction, but will also increase utilization and productivity.
Offering flexibility in work locations and fostering a strong and positive company culture are essential strategies to deter employees job-hunting this January. Companies that prioritize a supportive work environment that aligns both personal and professional values are more likely to retain their valuable talent.
Data within the report is compiled from The Instant Group’s Workspace Occupier Survey of over 200 workspace occupiers conducted in Q4 2023.