With more and more families in need of finding a balance between work and personal lives, flexible work arrangements have become a necessity. Workers need non-working time for personal obligations and family responsibilities, and companies must adapt their culture to the new trend.
In fact, “workplace flexibility” is one of the most important elements millennials are looking for when getting a job. That’s why you business owners are coming up with efficient solutions to meet employees’ expectations:
- Compression of workdays–More and more companies are already experimenting with the 4-day working week
- Flexible daily hours–Quitting the 9 to 5 schedule brings a new perspective for many employers
- Telecommuting–Employees work from home
Implementing these new trends asks for resources and a willing to change. You need to invest time and money in a system that allows flexible work arrangements. Yet, these methods bring significant benefits, not only for your employees, but also for the company. Here are some reasons why you should be doing this in your business:
You Boost Productivity
When your employees get control over their working time, they tend to organize daily activities better. This way, they’re more efficient, finish activities in time, and respect milestones and deadlines.
Flexibility makes your employees happy. They get to work from comfortable places–their homes, coffee shops, parks, which allows them to focus on their creative tasks and come up with innovative solutions. In the meantime, they can easily remain connected to what happens inside the office.
If your company uses a business management tool, your employees can access any information they need, right from their computers. As an employer, you get to keep track of their progress.
Flexible working hours contribute to a healthier working environment. Employees deal with lower levels of stress when they don’t have to follow a rigid schedule. Even more, they get to reduce hours spent in traffic going and coming from work.
Studies show that flexibility at work has positive effects over employees’ mental health. It also influences sleep quality, sleep duration, blood pressure, and heart rate. Healthier employees are more productive, even more, they tend to recover easier when they’re sick and their periods of leave are shorter.
You Get to Increases Loyalty and Engagement
Around 60 percent of the American office workers would leave their jobs for new opportunities. This lack of engagement brings in bad performance, which translates to low productivity.
In context, you should analyze how engaged your staff is with the company. You could also create a friendlier working environment, where your employees can find meaning in their work.
Working flexibility influences how employees feel about their jobs. If you give them the freedom to organize when and where to work, you will see an improvement in how your employees align with the company’s values.
Higher engagement levels reduce absenteeism at work, as employees will be more motivated. Furthermore, they have fewer reasons to miss work in special situations, like childcare or eldercare. It’s easier to respect work obligations when you have a flexible schedule that allows you to take care of your family needs at the same time.
You Reduce Costs with Recruiting and Hiring
Loyal employees bring further advantages. First, they’re more productive, as they’re working not only for their salaries, but also for the company’s progress. Second, you get to save money, by not having to substitute them.
Companies spend a lot for recruiting, interviewing, and training personnel. Moreover, new employees have low productivity levels and can have negative effects over workflows and deadlines.
According to HR specialists, replacing an employee means spending around 20 percent of his or her annual salary. These are significant costs for a company, as the same study says one in five employees leave their job each year. Employee retention is essential, not just for keeping recruiting costs low, but also for growing your company in the long run.
You Can Boost Your Company’s Value
It’s been stated that work-life balance policies have a positive impact on firm profits. In fact, many companies that had announced initiatives in this field registered higher stock prices.
This comes because of how perception over company’s value changes. The impact of flexible policies on productivity makes the company more appealing to investors.
This has effects on small businesses, too. When a small company incorporates flexible policies, it becomes more credible among business partners and possible clients.
A Flexible Schedule is A Crucial Consideration for Employers
Business owners and managers need to create a culture of flexibility and open-mindedness. This way, their employees will become more efficient, more productive, and more creative. You might even consider going further into just changing their schedules. By implementing schedule flexibility inside your company, you’ll get significant benefits:
- You increase productivity through happier and healthier employees
- You reduce turnover rates and cut costs with recruiting and hiring
- You motivate your employees to engage with the company
- You reduce absenteeism and burnout.
- You grow your company and increase its value