Microsoft has released its second annual Work Trend Index report which has outlined five urgent trends that business leaders need to address. The report—Great Expectations: Making Hybrid Work Work, makes clear that the past two and half years have created a long-lasting impact and have fundamentally changed how people define the role of work in their lives.
Most notable is that employees now factor in a ‘worth-it’ equation when considering their employers for the years ahead. 64% of employees in Hong Kong responded that they were more likely to prioritise their health and well-being over work than before the pandemic compared to 57% in Asia Pacific. Work-life balance and mental well being were also cited as the top motivating reason why employees were leaving their roles. Generationally, over half of Gen Z and millennials indicated that they were considering changing employers in the year ahead.
Make the office worth the commute
The report also examined respondents’ attitudes toward returning to the office with almost four in ten hybrid employees saying that they were unsure when or why they were needed to return to the office. Similarly, few companies (28%) have created new team norms that ensure time spent together is intentional and beneficial. This data indicates that business leaders must establish the why, when and how of the office and define the purpose of in-person collaboration. Organisations that fail to create team agreements, define hybrid meeting etiquette and rethink how the office space plays a supporting role risk missing out on key talent.
With over two-thirds of employees in Hong Kong and 61% of APAC workers considering fully remote work in the year ahead, businesses cannot solely rely on the office to recoup the social capital that has been lost over the past two years. Cally Chan, General Manager, Microsoft Hong Kong and Macau commented, “There is no erasing the lived experience and lasting impact of the past two years, as flexibility and well-being have become non-negotiable for employees. By embracing and adapting to these new expectations, organisations can their people and business up for long-term success.”
Paul Arkwright
Publisher
