There are many statistics to be read around hybrid working and its benefits and shortcomings. On the plus side, hybrid and home working can promote happiness, flexibility, productivity and mental health while cutting down on commuting and other costs. On the other hand, shortcomings can include distractions, loneliness and an inherent lack of collaboration, communication and motivation. Whatever statistics you buy into, employee expectations have changed because of Covid, and every employer knows it. So how can companies adapt their reward strategies to reflect that? 

Use digital methods for delivery and communication

The role of digital in administering and communicating reward and benefits is stronger today than ever. New technology available can provide huge opportunities to transform workforce wellbeing, engagement and culture. It can also improve the speed and the ease with which benefits and wellbeing initiatives can be implemented across an entire workforce.

With a lot more employees working off-site, employee experience platforms like the HAPI app can literally work miracles for HR. The app can access all types of benefits, from wellbeing and recognition schemes to payslips. It is also an ultra-effective method of communicating and increasing employee engagement. Remember though: if you do opt for this kind of tech, it is also important to invest the time in training workers on how and when to use it. 

Can you redistribute any savings?

According to Global Workplace Analytics, almost six out of 10 employers identify cost savings as a major benefit of employees working remotely. 

As well as saving employees on expenses, remote working can also reduce business costs on rent and utilities, cleaning and rates. In many cases it has also led to increased productivity and reduced absenteeism, which companies could now offset with increased benefits, rewards and perks. Increased pension contributions, a home allowance or one-off sums to upgrade home equipment are all being widely considered.

Choose a consistent approach to location

With hybrid working now such an established working model - only 5.1% of the organisations we surveyed said that they do not offer it to any employees while 32.2% offer it to their entire workforce - many organisations remain unsure about how to evolve their location pay arrangements.

Should companies get rid of the salary boost for London workers who continue to work from home? Options currently being considered include basing allowances on workers’ home location rather than the office; reviewing pay for employees who work remotely and have chosen to relocate from the place that initially qualified for additional pay; incorporating the location element into salary; or removing the separate allowance.

In all of this, transparency and consistency are key, crucially with clarity on why a worker's location is or is not being taken into consideration. Many employers would benefit from benchmarking their location-based pay against the market so that it remains cost-effective, and they can avoid falling behind competitors.

Flexibility for employees

“What can we offer as the cherry on top as our USP?” It's a question many employers are challenging themselves with and for many workers the shift towards flexibility now almost outweighs financial reward. It remains to be seen if that trend continues in the current cost of living crisis, but the 2022 Hays UK Salary Guide reported 65% of those surveyed would be tempted to move to another organisation if they simply had more flexibility.

Companies are listening to their employees to learn which benefits are most important to them. Some employers are going all out and having a “work when you want, where you want” approach. Some are identifying gender neutral parental leave as being just as important to staff as other forms of flexible working. For others, having wellbeing days in addition to annual leave is bringing about a difference to morale and health and at the same time reducing absenteeism and burn-out. 

If businesses are making savings through hybrid working, it does make sense to try and be creative and redistribute some of that to a positive end, particularly in these tough times. That may or may not apply for everybody but going forward for all businesses of a certain size it is very hard not to see the vast benefits of investing in more technology. The ability to house all of your wellbeing, employee engagement and benefits in one customisable platform that also offers effective communication, straight to everyone's phone. It's efficient, cost-effective, and easy to roll out - the future of managing and communicating benefits with transparency and consistency.
 

Want to learn more? You can download Sarah Lardner's whitepaper, Borderless – Talent and Salary Alignment, or read more about the HAPI app here. 

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