Work Flexibility In The New Normal
The pandemic forced companies to adopt new forms of work flexibility for survival. This forced experimentation has caused everyone to rethink what’s possible. As a result, recent studies show that employees now rank worklife balance and flexibility as top priorities when choosing employers.
So what does this mean for the future? And how can companies use this to their benefit?
In this article:
What is work flexibility?
Work flexibility exists where employees are able to work in ways that suit their lifestyle. This can mean flexibility in how and when they work.
TYPES OF WORKPLACE FLEXIBILITY:
Place flexibility:
Remote work
Living outside the workplace area
Hybrid working (partial time remote and in-office)
Time flexibility:
Flexible hours
Compressed workweeks
Self-scheduled hours
Workload flexibility
Part-time work options
Job sharing
Lighter workloads
Continuity flexibility
Unlimited paid time off
Opportunity for sabbaticals or career breaks
Caregiving leave
All of the above are examples of workplace flexibility. What doesn’t change with workplace flexibility is your employee’s results. Their work must still be done well and on pre-determined timelines.
Benefits of work flexibility (for employers)
The benefits of work flexibility to employees are fairly obvious - better worklife balance and the ability to tend to the rest of life’s priorities. But what about the benefits for employers?
ATTRACT TOP TALENT
Work flexibility has become one of the top priorities cited by employees when choosing a company to work for. In fact some forms of flexibility have become a basic expectation. For example, 74% of professionals expect remote work to become the new normal, and only 3% say they want to work full time at a physical office moving forward. Companies who provide flexible options can expand their talent pools and significantly improve their success at securing the top talent they need.
IMPROVED RETENTION
Attract and keep is the idea here. 89% of companies report better retention rates because of their flexible work options. When losing a valued employee can cost companies upwards of $30,000, this makes a big impact to the bottom line. As workplace experts predict a turnover tsunami coming off the pandemic’s recovery, a focus on retention strategies will be critical to keeping businesses moving.
INCREASED PRODUCTIVITY
Over two thirds of employers report increased productivity from remote workers and, similarly, 78% of employees said flexible work options made them more productive. While there is still a stigma around flexible work and productivity, studies continue to show positive correlations.
BETTER EMPLOYEE SATISFACTION
This point fuels many of the benefits above. 73% of employees said flexible work arrangements increased their satisfaction at work. 78% also said these flexible options would allow them to live a healthier life and reduce their stress levels. These positive impacts on the overall happiness and health of employees enables them to bring their best to the workplace.
MONEY SAVINGS
Who doesn’t love to save? With place and time workplace flexibility options, employers have started to save big on overhead expenses associated with the office. Employers have reported to save approximately $11,000 each year for each employee that works remotely. Furthermore, by improving employee satisfaction, retention and productivity, employers are able to reduce costs associated with attrition, hiring and absenteeism. Embracing workload flexibility and leveraging fractional or part-time talent also allows companies to scale their costs parallel to their actual needs.
How to implement flexible options successfully
MAKE YOUR POLICIES CLEAR
Although more and more companies are offering flexible work options, the rollout hasn’t been seamless. 53% of employees say there is no official flexible work policy in place, and 30% said that it was up to their individual manager’s approval.
If employees don’t know about the options that could benefit them, or they do not feel equally comfortable to engage in those options because of their manager, there are problems to solve. Make sure these flexible options are equally available and known to employees so that the benefits mentioned above can reach their full potential.
PROVIDE THE TOOLS NECESSARY
Policies need to live on and off paper. Companies should ensure the right technology, tools and training have been provided for employees make use of flexible options. This could mean conference software, collaboration software, hoteling stations, and more depending on your company’s policies. Read our recommendations here on the top software for remote teams.
BE INCLUSIVE
As companies increasingly adopt hybrid structures with both remote and non-remote employees, it can be easy for the in-office group to fall back into old habits. Employees should be conscious to keep all participants in mind when scheduling hybrid meetings and socials. The last thing you want is for remote employees to feel under-valued or invisible.
ENSURE LEADERS ARE FIT FOR THE FUTURE
There’s still a lot of stigma around flexible options, and the employees who opt to use them - much of which come from managers. Make sure your managers are ready to lead in the new world of work. There’s a greater chance for managers to favor people they see in person more often. It will be their responsibility to check their prejudices rather than put the onus of the relationship on the employees.
We recommend managers schedule frequent 1-1s with remote staff to sub in for those impromptu water-cooler encounters. This is one way to ensure there’s more equal opportunities for visibility and support. Discover more tips on on managing hybrid and remote teams. Over the course of the pandemic, we’re still seeing a lack of proactive touchbases with remote employees which could lead to decreased engagement and unnecessary politics.
In sum
Work flexibility is a phenomenon soon to become a norm. As companies shift into their new normal, it will be important to clarify to new and existing employees what forms of flexibility you offer.
Contact us to learn more on how you can position yourself to attract and retain top talent in the new world of work.
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