Over 80% of chief financial officers view hybrid work as a top way to meet savings targets, new research shows.
The data from IWG, a provider of flexible workspaces, shows that 78% of CFOs are cutting costs due to economic uncertainties.
The survey shows that the cost-related benefits of hybrid working will continue to accelerate its growth.
The report highlights that moving to shared office or co-working space, downsizing a company's owned space, or a combination of the two are effective ways of reducing significant costs.
"The research shows that CFOs and business leaders are adopting hybrid working for many reasons," said Mark Dixon, IWG Founder and CEO.
"Not only does it support employee work-life balance and wellbeing, but it also provides a meaningful boost to a company's bottom line," he added.
In addition to changing their office footprints as a cost-cutting measure, the data shows that CFOs are also reducing new hires, changing to a short-term lease agreement on office space, reducing staff with layoffs and reducing staff by not filling vacant roles.
