The way we work is changing. Constant digital connection means that most people can get their jobs done from virtually anywhere. This shift has meant a revolution in our approach to flexible arrangements for employees. Stepping away from a 9-to-5 structure to ensure we’re getting the most out of our teams.
The Benefits Of Flexible Working
Study after study shows us that flexible work arrangements have major benefits for both organisations, and their staff.
Just take a look at a few statistics:
- A recent Stanford study showed that letting employees work from home:
○ Increased productivity by 13%
○ Reduced turnover by 50%.
- After Dell rolled out their flexible working policy they found that the Net Promoter Score of employees who worked remotely tended to be 20% higher than the score of those who didn’t.
- At Appen, flex work schedules meant a quick decline in employee turnover. In just one year:
○ The company’s employee attrition rate fell by 5%.
○ 80% of Appen’s core workforce said they were satisfied with their jobs
The data tells us that a flexible workplace will drive three key areas:
- Attraction (of new candidates to the organisation).
- Retention (of employees within the organisation).
- Engagement (of employees within the organisation).
These areas tend to create a bit of a domino effect. A flexible workplace means an increase in employee engagement. A rise in engagement means high levels of job satisfaction. When your team is happy they often stay put and quickly your company becomes a highly sought-after workplace.
How Can You Get Flexibility Right In Your Organisation?
Flexibility isn’t something new, it’s just something that many companies haven’t been getting right.
While there’s no magic formula, there are a few things that all flexible workplaces have in common.
1. Authenticity: If you’re providing flexi work options, be authentic in the offer. This means offering flexibility within your flexibility. When companies set rigid rules around flex working it becomes disingenuous. Be open to a variety of flexible options so that your team can find the solutions that work for them.
2. Trust: Flexible work arrangements can’t function without trust. If managers are suspicious about their employees whereabouts, or try to micromanage their team members from a different location, the impact will be hugely negative for everyone involved.
3. Resources: Technology plays a big role in flex work. You need to have reliable platforms for communication, video conferencing and other day-to-day tasks. Organisations are increasingly providing the tools for employees to work flexibly, but if these resources aren’t fully utilised, the benefits won’t be realised.
4. Communication: Communication is the backbone of any high-performing workplace. But this becomes particularly important when you have staff members with different schedules. Make sure to have processes around communication set up for your remote workers, and most importantly, be sure to stick to them!
5. Clarity around expectations: It’s critical to be clear on what you expect from workers when they’re working flexibly. You can remain authentically flexible while still maintaining clear parameters on how you expect these arrangements to work. When you make your team aware of what’s expected, flex work will have a much more successful outcome, for both business and staff.
Attracting, Retaining And Engaging Top Talent
The highest quality candidates are always going to be difficult to attract because they’re in such high demand. That’s why you need to be doing everything you can to make your workplace an appealing option while remaining true to your values.
Flexibility is one of the great tools which organisations can use to play a key role in attracting top talent , It fits into nearly every company’s values, provides an appealing opportunity to future employees and gives current employees a reason to remain in the business.
Disclaimer: All content on this page is for general information purposes only and Investa does not make any representation as to the accuracy, reliability or completeness of such content. See our full disclaimer.
Share via Social Media