Companies that don’t offer hybrid working could be missing out on the best graduate talent, according to a survey by International Workplace Group.
IWG found that almost half (49%) of graduates would not apply for a job that did not offer hybrid working.
More than half (54%) think hybrid working is as important as a competitive salary, arguing that being able to work some of the week from home is equivalent to a 13% salary increase.
Alongside the 49% of candidates who wouldn’t consider a job without hybrid working, it would force 18% to seriously consider their choice, leaving companies without flexible working arrangements with potentially just a third of the available graduate talent pool.
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IWG’s research is published as some high-profile companies are mandating full-time office returns, or policies requesting that employees attend in person for a certain number of hours per week, with some monitoring gate activity to see who is in when.
Amazon is the most prominent employer to announce so far, demanding that employees return for five days a week from January 2025.
Graduates told IWG that their biggest deterrent to being in the office full time was the time and money spent commuting (according to 83%).
Recent economic analysis by International Workplace Group and Development Economics found that a 24-year-old Gen Z worker living in a popular commuter town could expect to save up to £323,000 over the course of their working lifetime by splitting their time between a city centre HQ office and working locally.
Three-quarters (74%) of graduates said a competitive salary was still a priority for them, but 54% said hybrid working and salary were of equal importance.
Hybrid working was also ranked ahead of a number of other workplace benefits such as desirable office location (56%), workplace culture (53%), access to health insurance (25%) and a good pension scheme (21%).
That said, younger workers still value time in the office to collaborate with and learn from colleagues. Sixty-three per cent said they thought some time in the office is necessary to learn more from senior colleagues.
Almost all (96%) said that balancing time in a central office with local workspaces closer to where they live would be an attractive benefit they would look for in a future role.
Mark Dixon, CEO of International Workplace Group, said: “Businesses that do not offer hybrid working risk missing out on the best young talent. For many, flexibility is not a perk, but a necessity, and they will not consider jobs that require a long commute five days a week.
“Flexible working offers further benefits to businesses beyond employee retention. The hybrid model is proven to boost workforce productivity and job satisfaction while also cutting costs significantly. It’s no surprise therefore that more and more businesses continue to embrace hybrid working for the long term.”
In April this year, research from Prospects at Jisc found most graduates think full office attendance is expected of them, even though six in 10 would prefer hybrid working.
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