In today's ever-changing work landscape, hybrid work models are becoming increasingly popular. In this post, we'll dive into what hybrid work is, its benefits and challenges, and how to make it successful for your team.
What is hybrid remote work?
Hybrid remote work, also called hybrid working, is a flexible work model in which employees work both in person and remotely. This lets team members work in-office for some tasks and work from home for others, combining the best of both worlds.
What are the elements of a hybrid work model?
Every hybrid work model is unique, but to maximize efficiency both on and off-site, you'll need a few things in place:
- Remote communication: A work communication app like Slack helps your remote workforce stay in touch no matter where they are, ensuring that both remote employees and in-office team members are on the same page. Set up standing threads for weekly updates to improve oversight and create a sense of teamwork regardless of location.
- Project management system: Tools like Jira or Asana make it easier for hybrid work teams and fully remote teams to organize tasks, deadlines, and responsibilities—both in the office and working remotely.
- Flexible work schedules: Allowing employees to adjust their hybrid work schedule to accommodate their needs and preferred work environment can improve work-life balance and boost employee engagement.
- Designated office space: Remote workers should have a comfortable and dedicated workspace at home, while in-person employees need an organized and inviting space for office work.
- Training and support: Team leaders, as well as the IT department, must provide the necessary training and support for remote employees and in-office staff to adapt to a hybrid work environment effectively.
- Company culture: Maintaining a strong company culture across remote and in-office team members is essential for employee engagement and hybrid work success, whether hybrid workers are in the same location or scattered across multiple time zones.
- Automation: Leveraging automation tools can help streamline processes, improve communication, and reduce the workload for both remote and in-office employees.
A hybrid-remote model example for a finance team
Here's how the elements of a hybrid work model come together. Let's look at a finance team that's responsible for confirming and paying bills. Some of them are in the physical office full time by choice and some are working from home:
- An invoice arrives via an email address that’s monitored by the team’s finance automation software
- The software reads the invoice and enters it in the system
- A remote-work employee receives a notification of the arrival, reviews the invoice, and confirms that the information has been captured correctly
- The finance software then routes the invoice to the right people for approval—one approver is working remotely and one is at the office
- Both approvers receive system notifications and confirm the invoice—the in-person employee confirms it on her desktop computer, while the remote employee approves it on their laptop or mobile device
- The finance software updates the invoice's status and automatically routes the approved bill for payment
- An in-person employee processes the payment, the invoice is automatically marked as paid, and the information is synced via the cloud to the finance team’s accounting software
Benefits of a hybrid work model
A hybrid work model offers several benefits for both employees and the company. Employees enjoy increased flexibility and work-life balance, while companies can enjoy cost savings on real estate expenses and tap into a wider talent pool. The hybrid model also promotes employee engagement, which has been shown to increase productivity.
An inviting co-working space can encourage remote-first workers to come into the office more often while still allowing them to work remotely. For companies with satellite offices, a remote-first model may also encourage team bonding, allowing many employees to enjoy team meetings without the need for in-person work or an office environment.
What are the disadvantages of hybrid work?
Some of the biggest concerns for hybrid work include potential communication gaps between employees working remotely and in-office staff, difficulties maintaining a cohesive company culture with fewer in-person interactions, and the challenge of managing a flexible remote-work model. Additionally, when employees work remotely, they may experience feelings of isolation or struggle with setting boundaries between work and personal life.
A recent study of finance teams also surfaced several unique challenges in managing a remote workforce, including the ability to measure productivity, security concerns, and the ability to set performance evaluation standards.
To counter these concerns, hybrid work teams apply several best practices for a successful transition.
Hybrid work model best practices
- Establish clear communication channels: Ensure that all team members have access to the same information and are kept up-to-date on any changes or updates for remote work, hybrid work, or any combination of hybrid-remote
- Set expectations: Clearly define expectations for hybrid-remote teams and in-person staff, including hybrid-schedule working hours, availability, and responsibilities
- Encourage team-building: Foster connections between remote and in-person employees through virtual and in-person collaboration
- Prioritize mental health and well-being: Provide resources and support for employees to manage stress and maintain a healthy work-life balance, regardless of their work location
- Implement regular check-ins: Schedule frequent check-ins with both remote team members and in-office employees to monitor progress, address any challenges, and maintain open communication
- Embrace flexibility: Be open to adjusting the hybrid work schedule and processes as needed to better suit the needs of your team members and the organization
- Evaluate and iterate: Continuously assess the effectiveness of your hybrid work model and make necessary adjustments to improve employee satisfaction, productivity, and overall success
Hybrid work model examples
Revisiting the example of the finance team, it’s easy to see how their finance automation software helps them achieve several of these objectives without any extra effort:
- Routing communications automatically to the right people
- Providing a to-do list with clear action items for each team member
- Storing and organizing information so it can be accessed by teammates on desktop, laptop, or mobile
- Controlling access to that information with defined user roles
- Letting employees work via computer or mobile device, from anywhere
- Providing an additional layer of security via separation of duties
Improving hybrid work and remote work with finance automation
Finance automation can significantly enhance the hybrid working model of a finance team by streamlining processes, reducing manual tasks, and improving collaboration. Automated tools can handle tasks such as invoice data entry, payment scheduling, and expense tracking, freeing up time for remote and in-office employees to focus on higher-value activities. Additionally, automation can help reduce errors and improve the overall efficiency of the finance team.
How BILL helps hybrid remote work companies automate their finances
BILL’s finance automation platform can help hybrid work teams work seamlessly together. With features like optical character recognition (OCR) for automated invoice entry, payment approval routing according to defined business rules, and a time-stamped audit trail, BILL ensures that both remote employees and in-office staff can efficiently manage finances from anywhere.
The platform also adds another layer of security for hybrid instances by enforcing dual controls. By requiring one employee to initiate the payment and another to review and approve it, you gain more control and visibility over your payments, helping to reduce internal fraud. Features like two-factor authentication also help to protect sensitive information both at home and in the office.
By leveraging BILL, your hybrid workplace can save time, reduce manual errors, improve finance tracking, and streamline collaboration without missing a beat. To see how it works, try our interactive demo or sign up for a risk-free trial today.
