Flexible Work Arrangements: Beneficial for both Employees & Employers
Gone are the days when all jobs consisted of 40 work hours spent in eight hours chunk! In this always-on era, millennial employees prefer working from home or while on the go instead of rigid 9-to-5 office hours. Today an increasing number of business leaders are embracing the flexible work program, with 1 out of 4 entrepreneurs predicting almost 75% of their staff to work remotely by 2020.
Flexible work arrangements are programs wherein employees are given greater leeway in terms of flexible working time, working from remote locations, etc. provided they put in the required number of hours. Other types of flexible work arrangements involve job-sharing, mealtime flex, part-time work, telecommuting, compressed work weeks, etc.
Almost 82% of the managers claim flexible working benefits their business as it helps in optimizing human happiness and the well-being of its employees. If you want your employees happier, healthier, work harder, and more likely to stick around, offer flexible working! Today over 63% of the managers are linking their business growth to FWA.
Get the most out of working remotely!
Did you know to offer flexibility in the workplace drives productivity? Owing to the paradigm shift in the technology and substantial changes in the perception of professional norms, employers have observed remote working to be highly beneficial for all the parties.
Check out the below statistics that can prove helpful to both employees and employers in getting the most out of such flexible work arrangements:
- Approx. 37% of the employees today use flexible work arrangements compared to just 9% around 20 years ago
- There is a 7% rise in the happiness rate of employees who work remotely as compared to the overall rate of employee happiness
- Around 10.6% of the employees felt being valued at work, despite frequent leaves or lack of daily face-to-face communication with the management
- Around 91% of the employees believe that they work more from remote locations than working in their company’s office
- Employers have observed that more than half of the employees working remotely contact their supervisors at least once a day as compared to 13% who only do just once a month or less frequently.
According to the Labor Market Indicators first quarter of 2019 and MOM (Ministry of Manpower) advanced report, the following service sectors saw visible employment growth due to flexible work arrangements:
The recent years have seen a significant rise in the proportion of companies offering Flexible Work Arrangements as compared to 6 years ago. Outperform your peers by offering flexible remote working which will give you the ability to acquire the best talent to the entire world.
Remote Working Case Studies:
James Liang – Cofounder of Ctrip Chinese Company introduced work from home with flexible work arrangements in 2014. This helped them save $1,900 per employee. In one of the interviews, James mentioned that remote working improved employee productivity and the company noticed a 13.5% rise in the calls than those in the office.
The chief human resource officer at ANZ Bank says, “The typical concept of working at the office is alien now. Companies need to change their thinking. We pay people to deliver results. Does it matter if they do so by sitting at home or at Starbucks or in Office? Probably not!” After the company introduced an ‘All roles flex’ in order to urge young associates to work at the bank, it saw a significant rise in the overall productivity with 87% of the employees working from remote locations.
Benefits of Remote Working:
Need for a new-age HR Tech for a push in the FWA program?
The next-gen workforce demands new working rules, and organizations need to keep themselves updated to stay in the competition. If you are looking for HR technology to get your company on the bandwagon, we can help!
Our PeopleStrong Alt Messenger can help companies achieve their objectives in the following ways:
- Apply flexible working hours accurately
- Connect with employees anywhere, anytime.
- Power-packed features to streamline operations – Task allocation, manage employee directory, etc.
- Celebrate the employee-appreciation even when working remotely
Talk to our experts to install Alt Messenger and stay ahead of your competitors while keeping your employees happy. After all happy employees lead to happy customers, which leads to more profits!