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Data Analysis

CHRO Survey: Hybrid work statistics say it’s here to stay, and employees are in the driver’s seat

High-growth startups have made massive adaptations to keep and attract people—but in ways that could threaten prized ingredients of success: culture and product development.

Many people are still debating the merits of hybrid work, but CHROs have moved on. Hybrid is now table stakes, and the trick now is figuring out how to create a hybrid culture that works.

The survey also shows that for CHROs and other executives, this state of affairs sets up a challenge that’s likely to dominate their lives for years to come. Hybrid work is believed to have its advantages, such as increased productivity and leaner costs. But survey respondents also said hybrid work may negatively affect two critical ingredients that often determine success at venture-backed startups and help companies differentiate from each other: culture and product development. 

CEOs and other leaders will need to find creative ways to head off these downsides. The strategies survey respondents say they are already implementing are a good starting point. They include over-communication, increased transparency, developing writing-oriented cultures that document what was previously shared only verbally, and a stepped-up reliance on digital collaboration tools. Perhaps the clearest sign that none of these can replace face-to-face interactions is that 4 out of 5 of those polled say they plan on hosting more off-sites to get people together in person.

The survey, which included participation from 53 companies, surfaced other insights which we highlight below. But the overriding theme is clear: The balance of power has shifted significantly from employers to employees, and companies that want to succeed are being forced to adapt. Here are the five key trends that emerged:

Companies offering hybrid work environment

Pre-pandemic

    February 2022

      Companies who say they need to offer hybrid work to remain competitive

      50%
      Asia
      89%
      Europe
      82%
      US East Coast
      100%
      US West Coast

      Globally, 62% of companies say they have “no set expectation” on how many days people spend in the office

      60
      Asia
      56
      Europe
      36
      US East
      80
      US West
      62
      Consumer
      73
      Enterprise
      78
      Fintech
      56
      Health Tech

      “Each employee can choose where they work, with no set expectations or cadence. They can decide every morning where they’ll be most productive.”

      CHRO, U.S. consumer software company

      The business impacts of hybrid

      Upsides from hybrid

      70%
      Makes employees more productive
      43%
      Reduces cost structure

      Downsides of hybrid

      74%
      Makes it harder to build culture
      34%
      Makes product development harder

      What companies find most helpful when it comes to recruiting talent

      75
      Work-at-home flexibility
      74
      Higher base salaries
      51
      Better benefits
      45
      Better equity compensation
      26
      Cash incentives
      21
      Permanent work from home

      What companies find most helpful when it comes to retaining talent

      74
      Work-at-home flexibility
      64
      Better growth opportunities
      36
      Better benefits
      32
      More training
      32
      Higher equity compensation
      25
      Permanent work from home

      "In a tight talent market, engineers are looking for flexibility, but we remain concerned about how to help people build social capital through trusted, meaningful relationships and engagement with the broader company. This could have an impact on attrition. This approach requires leaders to trust individuals and set principles, not rules.”

      CHRO, European hardware company

      Key challenges for companies at different stages of growth

      • Series B & C
      • Series D & E
      • IPO/Later growth
        Hybrid makes it harder to build culture
          Hybrid makes product development harder
            Suffered significant attrition in last year

            How companies plan to keep employees connected in 2022

            81%
            Host team and company offsites
            55%
            Hold more organization-wide online meetings
            45%
            Invest in more communication tools
            43%
            Expect employees to travel more

            “We intentionally promote cohesion and alignment by facilitating social events and in-person team meetings. We still want an environment of constant collaboration and feedback.”

            CHRO, U.S. consumer software company
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            Interactive Data

            CHROs on hybrid work, culture and more

            Explore the full results of our early 2022 CHRO survey with our interactive tool. Compare the results and benchmark your company.

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