Hybrid Work Model Becoming Permanent Change In One Major US City?
Hybrid work may become a permanent change for one major US city.
This article is more than 2 years old
With pandemic restrictions easing up, many employers are more eager than ever to get their employees back into their offices. While some employees are fighting back contentiously, others are more than happy to be back in person amongst colleagues. However, because there is such an apparent division between how people feel about staying remote or going back, many companies are offering compromises in the form of a hybrid work model. In New York City, the hybrid work model shift looks to be more permanent than ever.
Data sourced by ABC’s Eyewitness News revealed just how prevalent the hybrid work model has become in New York City. At present, about 38% of individuals who work in the city have returned to work via a hybrid model. This means that these workers are still spending at least part of their time working from home. However, data experts predict that when the dust finally settles approximately 80% of all companies in New York will have adopted a hybrid work model of some form.
These new estimates certainly reflect how the job market and industries as a whole have shifted since the pre-pandemic years. Just after the onset of the pandemic, nearly all companies said that they were committed to getting all of their workers back in the office on a full-time basis. Now, however, well over 3/4 of those same companies have re-adjusted their mindset and exceptions. This begs the question, however, as to what will happen to New York’s bustling business districts in the coming years? The short answer is that things will eventually work themselves out, but there will likely be an adjustment period coupled with growing pains.
In particular, office spaces could shift towards being occupied by companies that have a more prevalent in-person workforce. For instance, the real estate industry in New York has been particularly successful in returning to in-person work, with approximately 82% of its workforce back in the office in some significant capacity. That figure is about half for most other sectors. For instance, those working in the financial sector only have about 40% of their workforce back in the office for an extended amount of time. For those in accounting, the figure sits even lower at 26%.
All in all, the hybrid work model seems here to stay, at least in New York City. And many companies have certainly begun to realize that. Those still having trouble luring workers back in any capacity, though, may have to adjust their incentives. A sizable portion of companies who have already embraced the hybrid working model are providing their employees with perks such as child care resources, free meals, and transportation subsidies. These added benefits can go a long way towards proving to existing employees that it would be worth their while to work in person again in some capacity. Additionally, it also serves to show those employees that the work they do is valuable and that they deserve to be supported in any way they can so that they can know their diligent efforts are not simply a means for their company to make money.
