Business News
Brave new workplace: the future of hybrid working
Brave new workplace: the future of hybrid working
UNSW Sydney
Are the CEOs of the world right in predicting that workers will be back in the office full-time by 2026? Not according to UNSW Sydney researcher Iva Durakovic.
In October KPMG released a report stating that 64 per cent of global CEOs predict a complete return to in-office working by 2026. The CEOs cited linking raises and promotions with office attendance in their desire to return to “business as usual”.
“Business leaders who think this way are really misunderstanding what being at work means for today’s workers,” says Iva Durakovic, researcher in workplace design, whose recent papers ‘Supporting Social-Capital in an Omni-Channel Workforce’ and ‘Togetherness and (work)Place’ have looked at effective hybrid working spaces and tools, and at the significance of a work place in establishing belonging and a professional identity.
“Long before the COVID-19 lockdowns proved that there was a lot of work that could be done effectively without being in an office, workers were seeking autonomy over how, where and when they worked,” says Durakovic.
“WFH during lockdowns only amplified this, so the persistent demand of employees for more flexibility really should not be a surprise.
“Technology has enabled this flexibility, and for many professions there are tools and resources to connect effectively to work without physically being present.”
The ‘Togetherness and (work)place’ research paper reported “technology, human connection, and flexibility of choosing where to work as the top enablers of productivity in 2020”. This trend continued post the pandemic with an “ever-increasing importance placed on flexibility, choice, and connection”.
“If the team comes together and they’re engaged and actively reaping the benefits of face-to-face interaction, then it makes sense that people are in the office. But simply doing what can be done elsewhere, doesn’t make sense,” says Durakovic. Photo: Getty Images.
Why the call to come back to work?
“The question then becomes, ‘Why are you forcing your people to be together?’,” says Durakovic. “If the team comes together and they’re engaged and actively reaping the benefits of face-to-face interaction, then it makes sense that people are in the office. But simply doing what can be done elsewhere, doesn’t make sense,” says Durakovic. In mandating people back, organisations are not only risking an erosion of trust that the pandemic years and extended remote working have built but so much more in their culture. Trust underpins everything, our sense of autonomy, value to our teams, sense of cohesion, community and not to mention motivation and wellbeing.
“It comes down to flipping the question: it’s not about where and when we’re going to be working. It’s about how we’re doing the tasks that we need to do and then thinking about where that happens and when that happens.”
Durakovic’s research has captured similar sentiments to those commonly reported about the reaction of people when companies mandate a return to the office. There is a reluctance to return, to give up benefits like fewer hours and dollars spent commuting, easier access to childcare (rarely found in CBDs), more time with family when people are able to organise their work hours and location flexibly, increased time opportunities for exercise, not to mention the ability to perform more focused work and wellbeing benefits of being able to more effectively manage the juggles of life and work.
“It’s interesting,” says Durakovic, “that the CEOs surveyed have an impression that people will be more effective if they are in the office. They might turn up, but it’s certainly not going to do wonders for your culture or your turnover rates. Forcing presentism on people is not going to have a positive outcome for anyone. Not for them, and not for the business.”
“The future of work will continue to include hybrid work, because that’s what workers want, and it’s also what works for companies,” says Durakovic.
Drivers of change
What workers want from their workplace is changing and companies need to embrace that rather than try to recreate what has worked in the past. “There has been a move away from workers being attracted to companies that offer super-experiences, think amazing work campuses with free food and other perks, and incentives, towards looking for values alignment and engagement. People are looking for purposefulness and meaning in their work, and to work for companies that take their social responsibilities seriously,” says Durakovic.
In fact, says Durakovic, “some companies are revamping their office spaces to make them more appealing to their workforce, but they’re still finding people are not coming back as often as they’d hoped, which points to other factors organisations may not be addressing. One is an understanding of their employees’ different demographics and drivers of preference for remote work, the other is culture and an honest review of the physical environments too.”
But, that’s not to say that place is not important. “We, as humans, have a natural disposition towards attachment and belonging which ultimately fuels our intrinsic motivations. In the workplace, these experiences manifest through mechanisms of person-environment fit; that is, our sense of comfort in the environment (physical and cultural) and feelings of being needed, important to other people, valued and aligned,” explains Durakovic.
“It could be that some companies are trying to make sense of their real-estate investments by seeking to mandate a return to their offices. But this will not solve the corporate real estate crisis, nor meaningfully re-activate CBDs,” says Durakovic. “There is a huge opportunity, if not responsibility, to start to dramatically re-think building assets and diversify. Research is showing that the cities least hit by economic downturn and emptying of urban cores were those that had a more balanced mix of retail, office, residential and other amenities. Not to mention the potential positive environmental impact that ideas of the 15-minute city and benefits of technology could offer.”
What works for workers
For the ‘Supporting Social-Capital in an Omni-Channel Workforce’ study, funded through the Alastair Swain Foundation, Durakovic conducted a series of observations, interviews and measurements capturing real time data on the physical, operational and behavioural aspects of Mirvac’s Adaptive Workplace Pilot. The research sought to understand the types of spaces and tools most effective in supporting seamless hybrid work, and their impact on emotive dimensions of social capital (e.g. sense of belonging, community, attachment to the workplace). Located in their Sydney CBD office, Mirvac and their design partners created an experimental work floor through which cohorts of teams from different business units rotated over a period of six months.
From a physical perspective, the findings – also reported by Mirvac in The Adaptive Workplace: Insight Report – highlighted that responsive and dynamic environments were the most effective for hybrid teams. The design allowed for various levels of ‘hackability’ (i.e., user adjustability of spatial configuration) throughout different zones across the floor. There was a preference for areas whole teams could occupy with minimal equipment (i.e., desk monitors) on a central ‘team table’ which acted both as an anchor in the space, but also enabled good visibility across the area for impromptu interactions. These centralised group tables were supplemented with individual mobile desks enabling configurations that could be adapted to suit the size of the team, their preferences and the type of project task. Good zoning – creating different spaces for different types of work – proved critical in allowing competing activities to take place without noise levels problems.
Interestingly the clarity of work purpose in the physical environment and dedicated space for the team created deeper purposeful connection and belonging.
“The future of work will continue to include hybrid work, because that’s what workers want, and it’s also what works for companies,” says Durakovic. “Hybrid working is a skill that our research suggests we improve over time. Global research is also finding hybrid WFH increases average productivity by 5%, and the trend is increasing as companies and employees get better at it. It allows for diverse teams, which boost innovation, because it means people who were previously excluded from in-office only work paradigms can re-engage. This includes people with caring responsibilities, disability, neurodiversity or those who live in remote locations.”
It will also mean that our cities evolve, adapt, and engage with communities to create more meaningful places adding social value and hopefully becoming more sustainable and livable as they do.
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Jewellery Design Centre Launches “Tell Our Stories” to Celebrate Lismore’s History
Advertorial by Daniel Pinkerton
The Lismore Jewel Centre, a beloved fixture in the community, has reopened its doors in the Starcourt Arcade under a new name: Jewellery Design Centre. To celebrate they are launching a heartwarming initiative to commemorate the history and cherished memories of Lismore and the old store.
“Since reopening, we’ve had so many come and tell us how happy they are we’re back and share their fond memories of the old Jewel Centre” says owners Gary and Mariska Pinkerton.
“We love it, and so we want to invite more people to share their stories with us!”
The old Lismore Jewel Centre. It will be missed dearly.
The ‘Tell Our Stories’ campaign invites locals to share their personal stories of connection, community and the special jewellery that has played an important role in their lives.
“The stories have played a special role in our lives too,” says Mariska.
“While we were closed after the flood, we did house calls and had customers come visit us at home which put a whole new light on the jewellery experience. All of a sudden the glitz was gone and our appointments were stripped back to just us and our customers. In this setting people naturally began to share their heart felt experiences with us, and we got to know them in a whole new way.”
It was this experience, they explain, that inspired the new Jewellery Design Centre in Lismore’s Starcourt Arcade.
“It’s smaller and not as ritzy as the old Jewel Centre was,” says Gary of the new store, “But for us it captures that feeling we felt when we would sit around dining tables with our customers.”
Just like home- a picture of the new interior’s cosy setting.
Gary and Mariska are now inviting community members to visit the store and share their own memories and experiences, with the chance to win exciting prizes.
Each person who shares their story online or in-store will be entered into a draw to win a $500 voucher, while those who have a piece repaired, remade, or custom-designed during the campaign period will have the opportunity to win a pair of $1,500 diamond earrings.
“We especially want to hear stories about the rich history of Lismore, memories of the old Jewel Centre or touching moments where jewellery has played a special part in your life.”
“More than the prizes, this is about celebrating the stories of the Northern Rivers and the memories that bind us together,” says Mariska.
Entries are open until May 24. For more information about the “Tell Our Stories” giveaway and how to participate, visit the Jewellery Design Centre in the Starcourt Arcade or follow the QR codes below to their social media channels.
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Business News
Australian unemployment dropped in March as part-time jobs surged; but this caused an increase in under-employment
Australian unemployment dropped in March as part-time jobs surged; but this caused an increase in under-employment
In March 2024, ‘real’ Australian unemployment dropped 78,000 to 1,358,000 (down 0.5% to 8.7% of the workforce) as employment reached an all-time high of over 14.2 million.
However, the composition of the workforce changed – part-time employment surged 295,000 (up 6.1%) to 5,164,000 (a new record high). Unfortunately, there was a substantial decrease in full-time employment, down 256,000 (down 2.7%) to 9,103,000 as the composition of the employment market changed significantly.
The rise in part-time employment was correlated to the increase in under-employment, up 75,000 to 1576,000 (10.1%, up 0.5%). In total a massive 2.93 million Australians (18.8%, unchanged) were unemployed or under-employed in March.
The March Roy Morgan Unemployment estimates were obtained by surveying an Australia-wide cross section of people aged 14+. A person is classified as unemployed if they are looking for work, no matter when. The ‘real’ unemployment rate is presented as a percentage of the workforce (employed & unemployed).
- Employment reaches new record high of over 14.2 million in March:
Australian employment increased 39,000 to 14,267,000 in March. Part-time employment drove the increase, up 295,000 (up 6.1%) to a new record high of 5,164,000 while full-time employment dropped 256,000 (down 2.7%) to 9,103,000.
- Australian Unemployment dropped in March with 78,000 fewer looking for work:
In March 1,358,000 Australians were unemployed (8.7% of the workforce, down 0.5%), a decrease of 78,000 from February driven by fewer people looking for part-time work. There were 763,000 (down 70,000) looking for part-time work and 595,000 (down 8,000) looking for full-time work.
- Overall unemployment and under-employment was unchanged in March at 18.8%:
In addition to the unemployed, a further 1.58 million Australians (10.1% of the workforce) were under-employed, i.e. working part-time but looking for more work, up 75,000 from February. In total 2.93 million Australians (18.8% of the workforce) were either unemployed or under-employed in March.
- Comparisons with a year ago show rapidly increasing workforce driving employment growth:
The workforce in March was 15,625,000 (down 39,000 from February, but up a massive 641,000 from a year ago) – comprised of 14,267,000 employed Australians (up 39,000 from a month ago) and 1,358,000 unemployed Australians looking for work (down 78,000).
Although unemployment and under-employment remain high at 2.93 million, there has been a surge in employment over the last year – up by 693,000 to a new record high of 14,267,000.
Roy Morgan Unemployment & Under-employment (2019-2024)
Source: Roy Morgan Single Source January 2019 – March 2024. Average monthly interviews 5,000.
Note: Roy Morgan unemployment estimates are actual data while the ABS estimates are seasonally adjusted.
Compared to four years ago in early March 2020, in March 2024 there were almost 800,000 more Australians either unemployed or under-employed (+3.2% points) even though overall employment (14,267,000) is almost 1.4 million higher than it was pre-COVID-19 (12,872,000).
ABS Comparison
Roy Morgan’s unemployment figure of 8.7% is more than double the ABS estimate of 3.7% for February but is approaching the combined ABS unemployment and under-employment figure of 10.3%.
The latest monthly figures from the ABS indicate that the people working fewer hours in February 2024 due to illness, injury or sick leave was 521,700. This is around 140,000 higher than the pre-pandemic average of the five years to February 2019 (382,100) – a difference of 139,600.
If this higher than pre-pandemic average of workers (139,600) is added to the combined ABS unemployment and under-employment figure of 1,533,000 we find a total of 1,673,600 people could be considered unemployed or under-employed, equivalent to 11.3% of the workforce.
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Construction Giant LVX Global Group Enters Administration, Putting 25 Jobs at Risk
In a significant development within the Australian construction sector, a prominent company, formerly valued at $30 million just nine months ago, has entered administration, placing 25 jobs in jeopardy.
LVX Global Group, a leading infrastructure engineering firm headquartered in Australia, took a drastic step on Wednesday morning as five of its subsidiary companies appointed administrators in a bid to revamp their financial situation. Specialising in strategy, engineering, and project management within the building sector, LVX operates primarily from its headquarters in Adelaide and boasts a global presence across more than 20 countries.
Having contributed to major national projects such as Brisbane Airport and Sydney’s Botanical Gardens, LVX has also collaborated with the Sunshine Coast Council on crucial initiatives like lighting, communications, and electrical services for the Mooloolaba seafront. Despite its illustrious portfolio, LVX now finds itself in dire straits, with administrators actively seeking potential buyers for the entire business or select assets while the fate of 25 employees hangs precariously in the balance.
LVX Global Group CEO Corey Gray
The company’s decline from its former glory is particularly striking given recent reports suggesting plans for a lucrative stock exchange debut through an initial public offering, which pegged its value at $30 million. Now, Ken Whittingham and Mark Robinson from insolvency firm Fort Restructuring have stepped in as administrators to navigate LVX through these turbulent times.
In their statement to news.com.au, the administrators indicated that while LVX has several national projects currently underway, decisions regarding their continuation remain pending. Expressing a commitment to explore all viable options, the administrators are actively pursuing a sale of LVX as a “going concern” and are open to considering a deed of company arrangement (DOCA) to potentially salvage the situation.
Amidst earlier plans for capital raising and optimistic revenue forecasts, LVX’s financial performance took a nosedive, with revenues totalling $13.3 million in the 2022 financial year—a significant increase from $7 million in the previous comparable period. Despite projections of $15 million in revenue for the 2023 financial year, internal presentations from last year painted a different picture, highlighting the company’s downward spiral.
LVX’s unfortunate downturn adds to a growing trend of national construction companies grappling with financial woes. Earlier instances include Rork Projects, facing debts nearing $30 million across multiple states, and Project Coordination, a seasoned industry player with half a century of operations, which succumbed to administration just two weeks ago, further underscoring the widespread crisis plaguing the construction sector.
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