More than half of Australian technology companies are losing staff to competitors offering work-from-home (WFH) arrangements, according to a global survey by human resources platform Remote.
The survey, which included over 4,000 businesses globally and 506 Australian leaders, found that 58% of local tech companies are experiencing workforce losses due to rivals providing more flexible working conditions.
A growing demand for flexibility, reported by 74% of respondents, is giving companies like Atlassian (NASDAQ:TEAM), Telstra, and Medibank — who have embraced WFH options — a competitive edge. Atlassian (NASDAQ:TEAM) has actively targeted workers unhappy with return-to-office mandates, with over 300 job openings available.
Benefits exceed challenges
Job van der Voort, co-founder and chief executive of Remote, said: "The benefits of flexible and remote work far exceed the challenges... We believe that distributed work is paving the way to a more successful, balanced, and fair business world."
Siteminder, an ASX-listed software provider for the global hotel industry, has introduced a hybrid work model, requiring staff to be in the office at least two days a week. Siteminder’s chief people officer, Dionne Woo, believes this approach has been successful in retaining talent in a tight labour market.
KPMG’s latest study of Australian chief executives found that 82% expect traditional white-collar roles to return fully to the office within three years. However, 78% of CEOs said they would reward employees who regularly come into the office with incentives such as raises and promotions.