FEARS of a recession could further stall workers return to the office, as chief financial officers and chief executive officers of global Fortune 500 companies batten down the hatches and adopt hybrid working to keep costs down.
On top of the cost-saving measures, facility spend is a key target for businesses, with two thirds (65%) of CFOs targeting a reduction of more than 10% per year. Hybrid working is viewed as a keyway of achieving saving targets, with 82% of CFOs saying it’s a more affordable business model as demand for office space remains high.
Research shows hybrid working can save organisations an average more than $14,300 AUD per employee, explaining why two fifths (39%) of CFO’s are considering moving to exclusively shared spaces. Global enterprise tech company Cisco went hybrid five years ago, cutting 50% of its real estate footprint and saving the company around $500 million.