Work from home has become a mass phenomenon now. Notably, hybrid work culture is slowly becoming popular as the economies are opening up.
Recently, a study conducted by Stanford University has revealed that hybrid work culture has reduced the ‘Churn Rate’ by 35 percent at large technology firms. It is also referred to as ‘Attrition Rate’.
The attrition rate of employees
‘Attrition rate’ is defined as the rate at which employees leave their companies. The trial was conducted with over 1,612 employees of Trip.com. These employees were from departments such as engineering, marketing, and finance. The study was conducted between 2021 and 2022, according to Nicholas Bloom, co-author of the study.
Reportedly, those having birthdays on odd-numbered dates were given the option to work from home on Wednesdays and Fridays. Whereas, the other employees had to punch in at the office full-time.
As a consequence, the findings of the paper prompted Trip.com to roll out a company-wide hybrid work model. The study results showed that employees working from the comfort of homes worked fewer hours. Moreover, it also increased their work output on the days they were at the office.
Employees working from home reported higher productivity than their office counterparts
Statistically speaking, employees worked 80 minutes less when working remotely and 30 minutes extra on other work days and weekends. Moreover, one of the biggest takeaways from the study was that employees working from home reported higher productivity than their office counterparts. Notably, there was an eight percent increase in line of codes written, despite working less.
The work-from-home employees emulated their habit of increased individual messaging and video call communication when working in the office. As a result, it led to better coordination amongst their peers.
A hybrid work model is a future. It has been seen that companies at the moment are hesitant to pull the trigger but as more studies reveal the benefits, it wouldn’t be long before it becomes the preferred mode of working for employees worldwide.