New survey data from Startups.co.uk noted that remote work is more secure than full-time, in-office employment.
The report – which cited responses from 546 U.K. small businesses – found that, of the companies that reported laying off employees in 2023, only 16 percent were “fully-remote.” This compares to a 38 percent layoff rate among fully in-office firms. Hybrid firms, where employees come into the office for two or three days a week, also showed an improvement on fully in-office counterparts with a layoff rate of 30 percent.
Startups.co.uk noted that its findings suggest that introducing an official work-from-home policy is the most cost-effective measure for businesses. By reducing or losing office space, companies can save on rent, utilities and other related expenses to weather economic downturns, all while maintaining a more stable workforce.
The findings are particularly relevant to employers; the report found that 80 percent of
respondents are actively seeking to increase their staff over the next year. As job security becomes a top priority for many professionals, research suggests that
remote-first companies will be in a strong position to attract and retain top talent in the coming months.
The survey also noted that – given SMEs hiring trends – employee benefits and perks such as remote or hybrid work arrangements will be a critical factor in business success in
2024.
The Startups.co.uk small business survey was conducted at the end of November 2023, in order to achieve a deep understanding of the mindsets, expectations and concerns of U.K. businesses established between 2013 and 2023. Survey questions were put to 546 business owners, CEOs and C-suite executives.
The full report is available here.
