How flexible working can benefit businesses
Empowering people to choose where, when and how they work for an organisation not only enables them to achieve what they want in both their personal and professional lives, it can boost motivation and productivity and, from a business point of view, help meet global demand and aid talent attraction. Add in the fact that it can be cost-effective thanks to savings made on overheads and it’s clear that flexible working policies can be hugely beneficial to businesses as well as employees.
Increased employee motivation and productivity
Flexible working allows workers to manage their own time and gives them a greater sense of control over their work and personal lives, which in turn brings energy and vigour to their roles. Remote working cuts out the daily commute which is not only energy-sapping but time-inefficient too. Working from home can increase output both in terms of quantity and quality. In a survey by PowWowNow, 79% of workers believed that flexible working made them more productive. Working from home also limits disruption, allowing employees to have greater focus, further increasing productivity. Enabling employees to have a better work-life balance will always be a positive move, resulting in a happier, healthier workforce with less sick days.
If more staff are freelancing, working from home or doing shift work, less office space and equipment might be needed and bills can be reduced. In a global study by software company Condeco, 53% of those surveyed in the UK saw a reduction in office costs. Such costs can amount to a significant percentage of a company’s overall outgoings so it is an important consideration. Businesses may have to invest in more advanced communication tools to facilitate increased flexible working but the cost will be minimal compared to the savings made by reducing overheads.
Aids talent attraction
Data uncovered by WaveTrackR found that terms relating to flexibility were frequently entered as keywords by jobseekers and recruiters do seem to be catching on. The LinkedIn Global Recruiting Trends 2019 report found that job posts that mention flexibility grew by 78% over the past two years. Emma Stewart, CEO of Timewise, is confident that recruiters will see the benefits of flexibility when it comes to talent attraction, affirming that, “in a few years, expect to see flex options openly listed when jobs are advertised.”
Helps meet global demand
In an increasingly global world of business, offering flexible working means there will always be someone able to meet customers’ needs, whatever time of day. By employing freelancers from other time zones or workers on different shifts, you will be freed from the shackles of the 9-5 working day and be able to adapt to global demand.
A poll commissioned by Timewise found that 60% of the British public believe that a four day week ‘could become the new normal’ for workers in the UK. An increasing number of employees want flexible working opportunities, technology is enabling it and it offers businesses a raft of tangible benefits. It seems what’s really needed is a cultural shift for it to have greater acceptance across the workplace.
Wave is proud to have hosted its 2nd Talent Matters event on February 27th, this time focusing on flexible working and the impact it’s having on the recruitment industry. We feel there has never been a better time to talk about flexible talent and engaged Emma Stewart, CEO and Co-founder of leading flexible working consultancy Timewise. She talked alongside best-selling author of ‘Competitive People Strategy’ Kevin Green, as well as Dave Jenkins, CEO of award-winning Wave.