The advancement in technology has today helped employees to stay connected from any part of the world and obliterated the need for working from office space to stay productive. Flexible work is no longer limited to just “gig” workers or freelancers but is equally beneficial for “traditional” employees who are generally used to working from the office. The sudden spurt in remote working due to the pandemic has further highlighted that flexible work culture is indeed beneficial in the long run. The success of this model has made big global corporations adopt a hybrid or flexible work strategy for their employees in the future.
A modern successful business is no longer chained by the constraints of the traditional working model and is centred towards driving exceptional employee experiences. Employers who are experimenting with this model are finding that their employees are more productive, successful, and happy. By creating an environment of trust they are fostering employees who feel trusted and valued, are happier, and are more loyal workers. However, the benefits of a flexible work schedule are just not limited to employees, but employers as well who find that their organization is more trusted, profitable, and a desirable place to work at.
91% of remote workers preferred remote work for better work-life balance.
With people prioritizing work-life balance, this strategy will help employers hold onto valued and skilled staff who appreciate the benefits of flexibility. By incorporating this into the organization, businesses have access to a vast talent pool as they are not limited by geographic boundaries and can find the right resource in any part of the world. When remote workers are provided with the freedom to pursue work in a flexible schedule, they are more focused and dedicated to the job. A flexible schedule reduces absence as employees have the freedom to mould their schedules and boost productivity.
A business stands to save significantly as it can reduce costs from reduced office space, utility costs, office equipment, etc. Businesses can make efficient use of their facilities and work towards creating a cohesive work culture. If your employees are struggling with long commutes, poor productivity, conflicting schedules, have a poor work-life balance then it is time to consider a flexible work culture that addresses all these issues. While flexible working provides the ability to work the way they want to employees, it is important to reinstate employees to work certain “core hours” that overlap with other team members to ensure everyone can attend the weekly team meeting or be available for client calls.
By 2022, 42.5% of the global workforce will become a remote workforce. – Strategic Analytics
There are also some key things for organizations to consider before adopting the flexible work strategy for their business, like:
- How to hold employees accountable for their work and how will supervision look like?
- How to maintain communication between employees or with management with varying work schedules?
- What will be the HR policies governing this structure?
- How to track employee hours, work, and schedules?
To make this plan a success, careful deliberation is required with the management and the HR department to ensure its viability.
What are the benefits of a flexible work schedule?
- Reduced costs
One of the biggest benefits for large corporations due to flexible schedules is the reduction in costs. Businesses can save on real estate costs by cutting down on individual office space and utilizing a shared co-working space. Costs that can be significant otherwise like internet bills, electricity charges, general office expenses, can be reduced if the employee is working from home or with limited office hours. Employees can also save costs on commuting and other related expenses.
- Improves employee retention
Satisfied and valued employees who appreciate a flexible work strategy and are more likely to stay loyal to the organization. It is one of the most important perks and can help you retain valuable staff. A survey found out that 80% of workers chose a job that offered a flexible schedule over the one that didn’t and they prioritized this over a prestigious title or position. Building a flexible work strategy will help workers lead a more balanced life, the benefits of which will be reflected in their work. They are more likely to reach their peak performance when they are on top of their personal and work commitments.
- Increased productivity
77% of remote employees feel more productive while working from home.
By cutting down on commute time and limiting distractions, employees working on flexible schedules are found to be more productive than their peers. Employees can focus better on work with lesser distractions and in an environment that best boosts their productivity. By sticking to a schedule that works best for them, employees can focus on their work and produce desired results. A conducive work environment is an integral factor of being productive and producing exceptional results.
- Attract a diverse and wide talent pool
Not being limited by geographic constraints, organizations get access to a wide talent pool of resources and can harvest the power of diverse teams. Diverse teams are known to be more cohesive, productive and creative, by allowing members from diverse backgrounds to interact and work together. Integrating a flexible work schedule allows the top talent to work for your company without worrying about working from the office. By encouraging a more diverse talent pool to apply, you’re essentially leading to a more creative and productive business.
- Improved work culture
Providing employees with a greater sense of control improves their morale and overall well-being. Employee well-being, satisfaction, and engagement are the driving forces of an organization. By allowing employees to have a better work-life balance, you’re prioritizing their needs thereby producing more productive employees. A happy and engaged workforce creates a work culture that encourages employees to work efficiently and attracts a great talent pool.
A flexible work schedule helps both the employee and employer in numerous ways and will help to succeed in the future. Paylite HRMS helps you successfully plan employee shift timings, track employee attendance on a real-time basis. To provide an effective flexible strategy for your organization, get Paylite today!