• New research by International Workplace Group among 500 CEOs reveals 95% have made new technology investments in the past year to improve hybrid working experience
• 43% of CEOs say it was their largest business investment during this period
• 87% of CEOs plan to continue investing in new technologies to further enhance the hybrid working experience – including cloud, AI and security technology
• Ongoing tech investment can boost employee productivity gains – for every day a firm’s employee worked in a hybrid model, that firm’s productivity is around $19,000 higher according to Professor Bloom

Business spending on technology is booming as CEOs invest to make the most of hybrid working, according to new C-suite research released today.

A study among more than 500 CEOs by International Workplace Group found that an overwhelming 95% have invested in new technology over the past year to improve the experience and efficiencies of hybrid working within their company.* 43% indicated that it has been their largest investment in the last 12 months, demonstrating the resources that businesses are committing to ensure they benefit from the advantages that hybrid working has to offer.

The findings, which come from International Workplace Group’s latest research on the attitudes and experiences of C-Suite leaders on hybrid working, show that spending on technology is likely to continue. In fact, 87% of CEOs plan to continue investing in new technologies to further enhance the hybrid working experience for their employees, allowing them to avoid long, time-consuming commutes and reap the rewards of an improved work-life balance, significant health benefits and monetary savings.

Local working drives demand for hybrid

Employee demand for working closer to where they live has been one of the principal drivers of the widespread uptake of hybrid working. Research shows that only one in five (21%) would take a new job that requires a daily commute of longer than 30 minutes, while 60% want to work within 15 minutes of home.**

Transitioning away from expensive city centre office spaces towards models which utilise smaller, regional offices and co-working buildings has also reduced businesses’ overheads. Previous research shows that almost half of CEOs (44%) have reduced their traditional office space by a quarter (25%), leading to reduced energy consumption and operational costs.***

This research suggests that CEOs are now reinvesting these savings into technology to help reap the productivity gains offered by hybrid working. The top areas of investment are cloud technology (62%), AI and automation (52%), security (52%) and generative AI (41%). Almost half (46%) said they plan to significantly invest in their software in the coming years.

This comes as more than three-quarters (77%) of CEOs consider hybrid working to be the future, with the same proportion (77%) also agreeing that the advancement in technology is crucial to its further adoption.

Hybrid working improves productivity

CEOs who invest in technology to support their employees’ hybrid working experience can expect productivity gains, too. Recent data from International Workplace Group revealed that 74% of workers said they were more productive when working in a hybrid model, while a similar number (76%) reported being more motivated.**** 85% of employees said that hybrid work had actually improved their job satisfaction.

HR leaders’ views support this, with four in five (86%) stating hybrid work is now one of the most in-demand employee wellness benefits, and reporting that it increases employee productivity (85%).

This reflects research undertaken earlier this year by The Bank of England, Stanford University, King's College London and Nottingham University, led by renowned economist and academic Nick Bloom. It found that for every day a firm’s employee worked in a hybrid model, that that firm’s productivity is around $19,000 higher.

Mark Dixon, Founder and CEO of International Workplace Group, commented: “The investment that CEOs of businesses of all sizes are making in technology demonstrates the long-term commitment that companies are making to hybrid working. Advancements in the likes of generative AI, video calls and cloud computing mean it has never been easier for workforces to collaborate wherever they are and we will continue to see a permanent shift towards more localised working.”

ENDS

Notes to editors

*Research among 500 CEO participants in June 2024 by Censuswide. Censuswide is Market Research Society (MRS) accredited and the research adhered to MRS guidelines.

**Research among 2,000 participants in February 2023 by Mortar Research. Mortar Research is MRS accredited and the research adhered to MRS guidelines.

***Research among 511 business leaders and facilities managers in the UK who work in the hybrid model, conducted in April 2024 by Mortar Research. Mortar Research is MRS accredited and the research adhered to MRS guidelines.

****Research among 1,026 participants in May 2024 by Mortar Research. The survey polled office workers who now work in a hybrid style. The sample was nationally representative of region and gender. Mortar Research is MRS accredited and the research adhered to MRS guidelines.

About International Workplace Group plc

International Workplace Group is the global leader in hybrid work solutions and workspace brands. We create personal, financial, and strategic value for businesses of every size. From some of the most exciting companies and well-known organisations on the planet, to individuals and the next generation of industry leaders. All of them harness the power of International Workplace Group’s hybrid working platform to increase their productivity, efficiency, agility, and market proximity.        

International Workplace Group’s unrivalled network coverage includes approximately 4,000 locations across more than 120 countries and 83% of Fortune 500 companies are amongst our growing customer base.        

Through our brands including Regus, Spaces, HQ and Signature, we help millions of people and their businesses to work more productively. We do so by providing the world’s leading hybrid work platform with professional, inspiring and collaborative workspaces and digital services all available via the International Workplace Group app.  

For more information visit iwgplc.com.