30 Nov What is Flexible Working and Why You Should Introduce it to Your Company
There was a time when the typical working day was 9-5 with no compromises. But as trends have evolved, so has the way we work. In this post, we’re going to answer what is flexible working and examine why it’s so important.
The Basics of Flexible Working
Flexible working refers to when a company makes allowances for its employees with regards to their work schedule. There are many forms of Flexi working, but the main ones you need to know are:
- Term time – Workers are contracted to full-time hours most of the time, but during the school holidays they might be able to work fewer hours or take unpaid leave.
- Flexitime – Enables employees to set their working hours – within reason.
- Job share – Ideal for parents, job sharing, means two people share a role, splitting the hours and responsibilities.
- Annual Hours – An employee works a contracted amount of hours each year, but they can be split to different days or even weeks. The company usually sets guidelines.
- Remote working – One of the more popular options, especially since the pandemic. People work from home but use Skype or other means to engage in team meetings.
- Commissioned Outcomes – There is no hourly contract or set ways of working. An objective for the year is set and meeting it is all that matters.
- Zero hours: When someone has a zero-hour contract, it means the work as and when they’re needed.
Why Is Flexible Working Important?
Flexible working has many benefits, and it’s also important to note that your employees will expect it. The millennial generation has been a governing factor in defining the ways we work and offering them flexibility results in a more positive experience for both management and their workforce.
Higher Levels of Production
We can’t be productive 24/7, and when people have things on their mind, it’s hard to concentrate solely on their job. Flexible working allows people to find the right balance between their personal lives and professional responsibilities.
Access to Talent
Businesses can struggle to attract talent, and the competition is fierce. But when a company puts its workforce first, then it’s only natural others will want to be a part of the culture they set in place.
Reduced Employee Turnover
Attracting talent is one thing, but keeping it is entirely different. When a company makes accommodations for its employees, they’re less likely to go elsewhere. Your cost per hire (CPH) will always be larger than the amount you’ll spend on retaining an employee.
Glassdoor has a useful calculator that lets you work out your CPH. You can access it here.
Better Customer Relations
Your customers are central to your business, and their happiness isn’t negotiable. When your team feels fulfilled at home and in the office, they’ll transfer that positive energy to your customers.
The Bottom Line
Flexible working is the best way to create a diverse and multi-talented workforce. If you need a convenient way to monitor your employees and their varying work schedules, we recommend you try our HR management software.
ZOOPHR provides innovative solutions for you and your staff’s diverse needs. Stay tuned to discover how else we can support your business needs.