Five reasons why flexible work arrangements are good for business
Flexible working doesn’t have to mean employees who work less – it means helping your employees find hours that suit their life and how they best work, so that they can contribute their best to the company. While this issue is usually most relevant to parents (after all, it’s rare to find a nursery with hours that accommodate the typical 9-5.30 work day, with the average 1-hour commute either way), it applies equally to any individual who may simply work better with flexible arrangements.
New software and technologies are bringing the office culture digital and keeping teams more connected and in-touch.
Below, we make the argument for accepting flexible working requests with five reasons why these arrangements are not only good for employee culture but a good business decision as well.
1. It improves employee retention, lowering recruiting costs
According to Acas, the cost of hiring and training new talent can cost a company about £30,000. Flexible working can not only save your company on hiring expenses but makes employees happier (and happy employees are loyal employees!). 76 per cent of employers saw retention rates improve when they offered flexible arrangements.
2. It attracts more talent
What’s better than being a desirable place to work? 30 per cent of UK’s work force (that’s nearly 9 million people!) wants flexible work arrangements, but only about 10 per cent of job adverts offer it. Set yourself up to attract the best talent possible by providing candidates with arrangements that will satisfy their needs.
3. It increases productivity and improves efficiencies
Reports say that three in five people who work flexibly put in more hours as a result of being allowed to do so. Flexible hours can also mean that effectively your business is open for longer each day. 95 per cent of employers say it has a positive effect on employee retention (and it’s a lot more efficient to manage a team with good retention!). By cutting back on time spent commuting, employees are also able to dedicate more of their energy to their work.
4. It can save costs
A recent survey in the US revealed that 36 per cent of staff would take flexible working arrangements over a pay rise – and if enough employees take up flexible working, companies can effectively save on space, and therefore rent, as well. Lambeth Council recently announced it was saving £4.5 million per year in property costs by introducing arrangements that led to no more than 60 per cent of the staff in the office at any one time.
5. It’s better for the environment
Thinking about ways your company can be more sustainable? Alongside ordering recycling bins, why not consider flexible working – increased remote working means less transportation, and a smaller carbon footprint overall.
This article is provided by Xexec.
In partnership with Xexec
Xexec is the UK's leading Reward and Recognition and Employee Benefits provider.
