Working from home means happier more productive staff and businesses are on board too, the BankSA Trends report says

Working from home or a blended week is here to stay, with a strong majority of larger businesses saying it will be part of work as we know it, the BankSA Trends report says.

Many workers report a better work-life balance and a drop in costs due to working from home.

People who work from home are happier, more productive, and their employers are increasingly OK with the reality of a remote or blended working week, the latest BankSA Trends report, released on Friday, says.

And South Australia will benefit too, with workers in some industries now able to work globally while living locally, reducing brain drain and also increasing the state’s attractiveness for skilled migrants.

BankSA will today hold a panel discussion including Westpac Group’s chief mental health officer Dave Burroughs, Deloitte Partner Aaron Hill, BAE Systems people lead Ema Saric and Flinders University’s professor Giselle Rampersad, to discuss the implications of the findings of the Trends report.

BankSA conducted a New Future of Work Survey which underpins the report, with 300 South Australian businesses asked what their attitudes to hybrid and remote work were.

“In short, both businesses and workers expect higher levels of flexible and remote work arrangements to remain than before the pandemic,’’ the Trends report says.

“The ability to offer hybrid work is becoming a source of competitive advantage for businesses when searching for talent.’’

BankSA state general manager, business David Firth said the number of larger businesses with least some employees working remotely was expected to climb by 10 percentage points to 78 per cent, while only 56 per cent of smaller businesses saw opportunities for work flexibility.

Mr Firth said the pandemic had supercharged a trend which was already under way, and younger workers particularly would consider the possibility of flexible working arrangements when choosing where to work.

“Young people, in particular, are being influenced by hybrid working trends when looking

for a job, with one in five young people surveyed looking for jobs in the regions and

interstate because of the availability of hybrid work,’’ Mr Firth said.

“We know that businesses come in all shapes and sizes, and there’s not one solution for

all. Some businesses are telling employees they don’t need to come back into the office at

all, while others are still keen to get their people back in, however, in general, we’re

seeing an increased interest in flexibility across the board.

“We are witnessing a cultural shift where the stigma of working from home has weakened

and many businesses have also reported increased performance.”

More than a fifth of businesses said their employees were actually working more hours compared with pre-pandemic times, but were happier with their hybrid arrangements.

It’s not a win across the board however, with visitation to the Adelaide CBD 8.2 per cent lower in the first quarter of 2021 compared with 2020 “and expenditure has dropped 20 per cent’’ the report says.

“This has significantly affected businesses that rely on foot traffic and visitation –

particularly the hospitality, entertainment and retail sectors.

“Our research reveals that the top three factors that would encourage people to the CBD are cheaper parking, better public transport and longer retail opening hours.’’

However there has not been a significant impact on demand for office space, with Property Council of Australia figures showing vacancy rates actually fell in the first half of 2021.

Originally published as Working from home means happier more productive staff and businesses are on board too, the BankSA Trends report says