Flexible Schedules
Benefits of flexible scheduling are emerging after the pandemic; it might be time to consider whether your organization should start offering flexible work arrangements. Flexible schedules are proving themselves to provide a range of benefits for workers, employers, and the economy at large.
Flexible scheduling is not just about telecommuting. It can include flexible hours, compressed workweeks, job sharing, part-time work, phased retirement, working from home on an occasional basis, or any other arrangement where the employees have more control over their time.
Advantages of flexible schedules include:
Increased productivity: flexible scheduling employees tend to be more productive than those working traditional schedules. Productivity is higher because flexible workers feel more in control of their time. This decreases stress levels and increases workers satisfaction. It has been shown that many of the employees who work overtime say they do so because they want to impress their boss.
Decrease turnover rates:firms with high turnover rates often benefit from offering flexible work schedules. Turnover is expensive and can cost upwards of more than 20% of a worker’s salary.
Increased employee loyalty: offering employees flexibility with their time increases feelings of satisfaction, which in turn increase job loyalty. A study by Boston College found that majority of workers say they would stay at their current jobs longer if they could work flexible schedules.
Recruitment and retention: it was found that many job openings are never advertised because companies are unable to fill positions. This results in the loss of valuable talent, business growth opportunities, time spent on recruiting, and increased costs due to overtime. By offering employees flexibility with their time employers can create a more productive and loyal workforce, which can in turn decrease turnover rates.
Cost savings: it is estimates that employers who offer flexible work arrangements have an easier time recruiting employees because candidates are looking for ways to balance work and family demands. This makes the company more attractive when hiring. As well, it may be less costly to hire employees if the employer knows they can offer a flexible work arrangement. It has been found that employees who are allowed to telecommute save companies thousands of dollars every year in commute costs. This savings is then passed down to the company.
How to implement flexible work schedules?
Examine your bottom line to determine if your firm would benefit from offering flexible schedules. Complete an analysis of whether this type of scheduling fits within the overall company culture, mission statement, and business goals. This may be completed by using surveys, focus groups, or interview with employees to see if the workforce could support the implementation of flexible schedules.