Flexible Work Arrangements: A Win-Win

As an employer, what does productivity mean to you?

Does it mean having your employees stay on their desks for a full eight hours a day? Or make sure they report on time, take their lunch for exactly an hour, and work overtime if needed?

If yes, then you might be missing out on the real meaning of productivity. You see, with the evolution of technology today comes more engaging ways to work more effectively.

Flexible work arrangements are not only favourable for the employees, but also for the business itself. In the long run, you will see the difference a little freedom and flexibility can give to your company.

But first, let’s dig deeper on the several types of flexible work arrangements.

What’s in it for the employee?

Work arrangements are not only confined within the boundaries of schedule and reporting, but they do contribute a lot to it. Many companies now recognise the value of work-life balance for their employees and its impact on their performance.

Allowing them favourable work setup promotes exactly that.

Types of Flexible Work Arrangements

Here are five types of non-traditional work arrangements you can explore:

Flextime

Probably the most common flexible work setup, flextime allows workers to choose their own work schedule, specifically start and end times.

This is to give them the choice of which work hours are more comfortable and preferable for them and their lifestyle, while still meeting the required hours per day. For an instance, instead of having the usual 8-to-5 schedule, an employee may opt to move it to 9-to-6 or even later at 10-to-7.

Factors commonly considered from the perspective of an employee is travel time to work, traffic conditions in the area, and sometimes, personal or family reasons.

Flextime is not the same as shifting because there are wide overlapping hours (mostly midday) where all employees should be in attendance for core business functions and meetings.

Remote Working

This type of flexible work arrangement puts premium on the work location. Companies that implement a remote working setup allow their employees to work from home or wherever they prefer as long as they deliver the outputs expected of them.

Online and homebased workers enjoy the flexibility of remote working because they avoid the hassle of commute or traveling to a physical office everyday. By using a computer unit, the internet, file sharing and messaging apps, team members can collaborate and work towards a common goal.

This often works for jobs that do not require face-to-face meetings and manual labour to function. Virtual assistants, developers, programmers, customer support, as well as creative, marketing, and design professionals, are some of the most common remote workers we have today.

Compressed Workweek

As the name implies, this arrangement allows the employees to compress their total required hours for the week into lesser number of days.

For example, if they are required the typical 40 works hours for five days a week, they may work excess hours on some days to compress it to just four work days. This can be allowed every week or every other week, depending on the terms or the business need. With this setup, time management is key.

A compressed workweek gives way to long weekends for employees to enjoy, especially if they have scheduled trips, holiday plans, or important matters outside work.

Part-time Work

Part-time workers often work on a contract basis, and are not exclusive to working for one client only. This setup promotes flexibility when it comes to the work nature and prevents burnout among workers.

Hours and days spent on work are less for a part-time setup, but it does not mean that their output are less, too. In fact, this arrangement encourages quality over quantity along with time management.

This is different from permalancing, a new trend in the workforce which is commonly described as being “more than a freelancer but less than a full-time employee.”

Being a contractor has its own pros and cons compared to a regular employment, which all boils down to career preference.

What’s in it for the employer?

These work arrangements might look like they’re all for the employees to enjoy, but no. There are many benefits for the employer, too. Read on to discover how employers can gain from such work setups.

Benefits of Flexible Work Arrangements for the Business

1. Improved Performance and Productivity

One of the main goals of flexible work arrangements is to increase productivity among staff members. And it does so.

Last year’s flexible working survey shows 92% of the respondents noted that flexible working is meeting their objectives, while 62% feel it will become even more important to them in the future. They also state productivity as one of the top benefits of such arrangements.

On a business perspective, 83% agree that flexible working has benefited their company, that’s why more than half of them actually offer it to their staff.

Looking at these figures, it is evident that work-life flexibility creates a win-win scenario for both the employer and the employee.

2. Reduced Cost

Another benefit of flexible working is a decrease in overhead cost. If you implement remote working, you automatically save money from office space rent. Or if you allow compressed workweek among your staff, one less work day can mean a day off from electricity expenses and equipment maintenance.

These may seem unworthy for large companies at first, but these cost-saving measures pile up and ripple over time, which make it all the more beneficial for employers.

Even employees would feel the savings they get from the work arrangement, with less expenses on gas or commute, which would impact positively on their work attitude and the value they give to the company.

Forward-thinking companies also see how happier and healthier employees actually translate to cost savings. According to this study from Centers for Disease Control and Prevention, productivity losses linked to absenteeism cost employers $225.8 billion per year. That’s $1,685 per employee.

And one more thing: employee retention (which we will expound on later). It is much more expensive to hire new talents than retain current ones, so if your turnover is high, this means you’re also losing money fast.

3. Increased Creativity

If you work with creative professionals, you would know that traditional work setups are quite ineffective now for the said field.

Many companies now are resorting to reinventing their office spaces to promote creativity and collaboration among employees. But how else can you achieve the same effect faster?

Increased creativity is one of the benefits of flexible working arrangements. Limiting a creative mind within the corners of an office cubicle, or strictly making them come to work on a least preferable schedule for them are equivalent to demotivating them.

Shaping your workplace culture in a way that promotes active participation and collaboration is key to making your employees more enthusiastic.

Allowing them to work outside the office or wherever they feel most “in the zone” channels their creativity to their work output. They will also feel the freedom and that they are trusted to deliver, which will make them even more engaged in what they do.

4. Employee Retention and Satisfaction

Employees offered a flexible work option will feel valued. This will then produce satisfied employees which also equate to higher retention rate. This chain effect will bring in better results for your company in more ways than one.

As you are giving your employees a freedom to choose, they will hold on to the trust you gave them and will ideally strive to give back that value through hard work.

Offering non-traditional arrangements will also boost their morale, as you make them feel that you prioritise their physical and mental well-being.

When team members feel their importance in a company, they are most likely to stay and grow with it. More than being a benefit, this becomes an investment for your company which could bring greater harvests in the future.

5. Talent Attraction

If you are able to retain your employees, all the more that you can recruit new ones.

Some candidates even see flexible working arrangements as a big plus when taking a job offer, as they are being given choices and not just confined by the terms of an employment agreement.

Companies who are bold enough to try new trends in employment position themselves as open and highly innovative employers. With the current competition on talent particularly in a highly specialised field like IT, it is important to stand out and offer the best work environment for the best candidates out there.

If still you are having a hard time getting the talent you need, you can tap recruitment firms which have tailor-made hiring solutions for companies who need to acquire talents fast and accurate.

Try Flexible Working Now

As with every work setup, there are ups and downs, but that must not keep you from trying new arrangements that will fit in your business.

The most important consideration will always be the well-being of your team members. Whichever brings out the best in them should always be the top priority. After all, they are your core business drivers. So if flexible working is the answer, then why not give it a shot?

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