benefits of flexible work for companies and employees_

How Flexible Work Benefits Companies and Employees

Employees aren't the simply ones to benefit from flexible schedules—they help businesses also! Learn nearly the benefits of flexible work for companies. Salvage

Flexible work is no longer something for only gig workers or freelancers—many "traditional" employers are offer flexible schedules to their employees as well. As an employer, you might be hesitant to offering flexible scheduling to your staff. Afterward all, aren't they the merely ones who benefit?

While it'southward true that employees benefit from flexible schedules, smart employers know that offer flexible schedules benefits them, too. From existence a green visitor to having an edge in recruitment and improving diversity, the benefits of flexible work for companies can assist your business stay ahead of the competition.

What Is Workplace Flexibility?

The easiest style to define workplace flexibility is to call back of it as an understanding between employer and employee. The understanding normally consists of three components. Employees can:

  1. Cull where they work from
  2. Create a work schedule that works best for them
  3. Schedule their work day nonetheless they want

As an employer, you lot may retrieve that this sounds like a freelancer schedule. And, freelancing is, indeed, one category of flexible work. However, flexible work can also include:

  • Part-time work
  • Fully remote teams
  • Piece of work-from-anywhere arrangements
  • Compressed work weeks (working xl hours over four days instead of five)
  • Alternative schedule jobs (working 2nd or third shift)
  • Temporary piece of work
  • Seasonal jobs
  • Gig piece of work

As an employer, you can offer your staff ane or more of these flexible work options, only keeping track of the dissimilar employment statuses and work schedules of your entire staff may seem like too much work for very fiddling return.

However, the benefits of flexible work for companies goes across happier employees. Employers that allow their staff the freedom to work a flexible schedule tin can also discover themselves a greener, more profitable, and more desirable visitor that people want to piece of work for.

What Are the Benefits of Flexible Work for Companies?

To be clear, the to a higher place components of workplace flexibility aren't as straightforward as they might seem. The reality is that even in the nearly flexible workplace, employers may still accept to impose some restrictions on flexible piece of work.

For example, while flexible workers may be able to work whatever hours accommodate their work style and let them get their work done, yous may crave that employees work certain "core hours" that overlap with other squad members to ensure everyone can make the weekly squad meeting or be bachelor for clients in a certain fourth dimension zone.

That said, at that place are five ways employers do good from allowing flexible work schedules for their staff.

1. Improves Retention

Assuasive your existing employees to piece of work flexible schedules tin can help you retain valuable staff. Without a doubt, flexible schedules are one of the near important perks employees want from their employers.

A 2018 survey found that 80% of workers would cull a job that offers a flexible schedule over those that did not. In fact, 30% said that they value flexible work over additional holiday time. And 35% said flexible work is so important to them that they prioritize that over having a more prestigious title or position.

If that'southward non enough, consider that a 2017 study found that job seekers are willing to take up to eight% less in salary if it meant they could work for a company that allows flexible work schedules.

This, of course, is non news to united states of america. Our 2019 survey found that 30% of respondents left their chore because the visitor didn't offering flexible work options, and xvi% were on the hunt for a new job due to a lack of flexible options.

Even more than telling, lxxx% of respondents said they'd be more than loyal to their employer if they offered flexible piece of work, and 52% said they'd already tried to negotiate flexible work arrangements with their electric current employer.

Think of it in terms of dollars and cents. The boilerplate company's cost per rent is around $4,000 to recruit, rent, and train one new staff fellow member. Preventing your workforce from leaving because you offer flexible scheduling could reap you meaning cost savings in the long run.

two. Attracts Top Talent

Given that many job seekers are more interested in a flexible schedule than other perks, and that flexible work benefits companies equally much every bit it does employees, it stands to reason that offer flexible schedules tin assistance you recruit more than top tier talent.

If none of the above convinces yous that offer flexible schedules to staff will do good your visitor, consider that over the last 10 years, 83% of businesses have already or are planning to offer flexible schedules to their employees.

3. Improves Multifariousness

If you're limiting your candidate puddle to a single location (or even a few locations), you'll have a narrower group of candidates. And if yous're in a homogenous locale, your workforce is likely to become less diverse. Even if you lot pay for relocation, you're request candidates to exist function of a less diverse community, which could exist a turn off and cause you to miss out. A 2019 study found that companies with various employees have better performing teams than less diverse organizations. Past casting a wide and diverse net, you're likely to end up with the best candidates possible. Non just will remote work help your visitor's diversity, but it will assist your bottom line.

4. Increases Productivity

One of the reasons employers oftentimes won't permit staff to work flexibly is that they think if they can't continue a watchful eye on their employees, they won't work. However, working flexibly can actually increment employee productivity.

A 2019 survey of remote workers found that, on average, they piece of work one.iv more days per month than in-function employees. That translates into sixteen.8 more work days every year. In addition, in-function workers bargain with workplace distractions an average of 37 minutes per day, versus the 27 daily minutes a remote employee experiences. Furthermore, when y'all're in a flexible surroundings, it forces managers and leadership to evaluate their employees on what actually matters versus their presence in a concrete location. This facilitates a results-oriented culture that emphasizes potent bear on and thus, helps the business concern thrive.

And a study of the U.S. Patent and Trademark Office (USPTO) employees backs upward these observations. A 2-yr study found that USPTO staff who were allowed to piece of work from home and work from anywhere were 4.four% more productive than their in-office counterparts.

5. Improves Employee Appointment

Engaged employees are those who sympathize what their office is and how what they do contributes to the visitor's success. One of the means companies create a culture of appointment is past creating a workplace that empowers and respects employees.

And, you guessed it, one of the all-time ways to empower your employees and show yous respect them is to allow flexible work schedules. When yous let people work flexibly, you say that you trust them to get their piece of work done no matter how, when, or where that happens.

This investment pays off over the long run. Employees who are engaged with their jobs tend to perform better than those who are not engaged with their jobs. Engaged employees translates to:

  • Fewer missed days of piece of work. Sometimes a staff member is too sick to go to the office but non sick plenty that they can't get some work done. Allowing them to work from home in those circumstances means more work gets completed.
  • Less turnover. Staff who work flexible hours are more probable to stay loyal employees because they can balance work and dwelling house without feeling similar they are letting 1 or the other (or both!) down.
  • Career longevity. Staff who have been around for a long time possess institutional knowledge, simply they may no longer desire to piece of work full-time or live in a harsh climate. Allowing flexible work means the employee may continue working for you while y'all retain that "historical" data.

6. Provides a Price-Efficient and Eco-Friendly Pick

Flexible schedules not only relieve both employee and employer coin, they accept a positive touch on on the surround, too, and assistance support the UN's sustainable development goals.

Employees with flexible schedules may not have to commute to the part every day. This saves them money on commuting expenses, work clothing, and eating lunch out every twenty-four hours. Employers save money on their overhead costs. They tin rent a smaller function and use less electricity and h2o.

These changes too event in a lower carbon footprint for both staff and employer. Because staff aren't commuting every bit ofttimes (if at all), no matter how they get to the function, they aren't releasing as many harmful emissions into the temper. And, when employers rent a smaller office and apply less h2o and electricity, they also assist reduce their negative impact on the surroundings.

The Work World Is Changing

Given all the ways that COVID-19 has inverse and is still changing the globe, it is entirely possible that the pandemic is a tipping point for flexible work.

Families accept learned that flexible work can help them residue work and abode life. And, employees have constitute that working at home has its benefits, including the power to exist productive. Employers have also learned that allowing flexible work keeps their visitor going in the face of an ongoing emergency.

In one case the pandemic ends, there'southward a good chance that workers aren't going to desire to get dorsum to the "old ways." The flexible work trend was on the upswing before COVID-19, merely information technology'due south become even more commonplace, meaning that chore seekers are more than likely to choose the job that offers flexible schedules over the 1 that doesn't.

Piece of work Smart, Piece of work Flexibly

Flexible schedules benefit both the employer and employee in numerous ways. And though information technology may represent a massive shift in how you've washed things before, embracing flexible scheduling now volition help you succeed in the future.

FlexJobs has been providing skilful advice and consulting on flexible work to companies of every shape and size since 2007. Equally a company that'due south always offered flexible schedules (our team is fully remote!), nosotros know the ins and outs of what works and what doesn't. Talk to a flexible work expert today and discover a better way to recruit remote talent !

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