A range of statistics prove that your business could reap multiple benefits if you allow your employees to work flexibly. On the Htet Tayza blog I outline four reasons why I believe businesses should implement a flexible working week.
95% of medium businesses have a flexible working week
Most employers balk at the idea of the flexible working week. They imagine that if they implement this kind of employment schedule their staff will take it as an opportunity to pass the buck, whilst they’ll be stuck in their office until midnight picking up the slack. However 95% of medium sized firms in the UK offer some kind of flexible working week options to their employees.
Four reasons you should implement a flexible working week
They recognise that the 9-5 working week is a dying breed. Here are four reasons why so many medium sized companies have implemented flexible working options:
- They boost productivity: Staff recognise that flexible hours are a privilege, not a right. Pollsters Ipsos MORI conducted a study in 2012 which showed that 47% of workers try to be “extra visible” after being provided with a flexible schedule. They overcompensate and that’s why research from Regus found that 70% of managers said that productivity went up after they introduced the measure.
- They attract and retain employees: Modern life is hectic. There are a lot of people who can’t do 9-5. For these people, flexible hours are an essential. A study from The Telework Network found that flexibility was cited as an “important factor” why 83% of those surveyed joined a new company. Meanwhile a 2012 survey of 2,500 managers by The Chartered Institute of Personnel Development (CIPD) showed that 76% said that employee retention was one of the reasons they adopted a flexible working week.
- They make money: The boost in productivity translates into an increase in revenue. A Regus poll of 2,500 senior managers saw 63% of those questioned linked the measure to a growth in revenue.
- They reduce sick days: Companies lose billions in revenue every year through employee sick days. However the same 2012 CIPD poll showed that 56% of managers said that sick days had decreased once they introduced flexible working. Experts have suggested that flexible hours can reduce sick days because they improve work/life balance. This means that employees are less stressed and need fewer sick days.
Flexibility is good for business
Employees are vital to any company. If you provide them with flexible working options you give them a reason to do their best. You need your staff to give you everything they’ve got if you want your venture to become a success.
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