Since companies have started focusing on social distancing, remote and flexible working guidelines have become the new normal. However, a lot of managers still prefer to ‘micro-manage’ the team, and haven’t been used to the upcoming setup. Fortunately, advances in the digital age are allowing business organisations to adopt flexible working schedules. With the right set of tools, employees can communicate with colleagues, share files, and collaborate on projects seamlessly.

Without distractions and the burden of a commute, employees can continue to focus on projects and deadlines. In fact, most studies suggest that flexible working schedules offer numerous benefits for both the employer and employees. Businesses around the world have started encouraging employees to take advantage of flexible arrangements.

What does flexible working mean?

The phrase ‘flexible work’ keeps coming up in a wide range of conversations about work-life balance. While several industries have started adopting flexible work practices, most still don’t realize the importance or benefits of such arrangements. A job can be flexible in many different ways.

For instance, time flexibility provides employees with part-time work, reduced hours, consulting roles, compressed hours, flexitime, or job-sharing. Similarly, companies have also started focusing on space flexibility, which could lead to swapping a permanent desk for a coworking space or virtual profiles. From working remotely to attending office on specific days in a month, the possibilities are endless. 

What are the benefits for employees?

As an employee, each person thrives in a different condition. When you provide employees with more flexibility and control, it encourages them to work in a more productive and efficient manner. Here are some important benefits of offering more flexibility to your staff members:

Improved work-life balance – It goes without saying that more flexibility at work gives your employees a chance to take care of other things in life. They might finally be able to get some time to go for a run, pick up their kids from school, or do some house chores. Eventually, it saves a lot of stress and time.

Better mental health – If your employees are able to feel trusted, it gives them a sense of community. According to a study at a Fortune 500 company, a sound flexibility programme can lead to higher levels of job satisfaction. Moreover, it leads to reduced burnout and psychological stress.

Enhanced productivity – The modern business world has always been obsessed with productivity. When it comes to economic sense, productivity can be measured in terms of output. Unfortunately, most companies are mistaken to think that flexibility leads to less output. In fact, it’s the other way around.

According to data received from Canada Life Group Insurance, over 75% of employees in the United Kingdom considered flexible working to be more productive. Moreover, the same study reported that only about 20% of people working from home feel affected by workplace stress. 

On the other hand, almost 40% of people working in physical offices reported stress related to the office environment. Improved employee well-being and reduced stress levels boost productivity within a short period of time.

So, what are the benefits for the employer?

While flexible working offers several benefits for employees, it doesn’t mean business organisations don’t benefit from the concept. In fact, flexible work arrangements can provide a wide range of benefits to employers in various industries.

Diversified talent pool – These days, not a lot of people want to work in traditional 9-5, physical office-based jobs. Whether it’s due to caring responsibilities, work-life balance, or disabilities, flexible roles appeal to a wider section of society, allowing you to tap in to a diversified talent pool.

Future-proof talent – According to a Deloitte study, almost 75% of the workforce will comprise millennials in the next 5 years. This demographic comes with a new perspective towards work. Millennials are drawn to flexible hours and work-life balance. As such, adopting these measures now can provide business organisations with talented people in the coming years.

Retain employees – In the modern business world, work-life balance isn’t just a fad. In fact, studies suggest that most people leave their jobs due to lack of work-life balance. As such, if a business wants to retain employees, flexible work arrangements can play a major role.

When it comes to flexible working, the potential benefits for employees are well-documented. These include improved well-being, mental health, productivity, and work-life balance. Additionally, it helps keep employees motivated and encouraged.

However, it’s important for employers to recognise the numerous benefits of flexible work arrangements. Just like staff members, employers stand to gain from such useful initiatives. Flexible working allows organisations to reduce costs, increase loyalty, and improve output.

When flexible work arrangements are used appropriately, they allow both employees and employers to experience several benefits. In order to attract and retain good talent, it’s imperative for business organisations to focus on such practices.