Flexible work is rapidly becoming the norm across the globe, particularly in creative fields and roles that offer high value. This shift is being driven both by official flexible work policies and informal arrangements.
Many employees, for instance, have agreements with their supervisors that allow them to work remotely one day a week or leave early for personal commitments, making up the lost time later in the day. These informal practices highlight the need for businesses to establish formal flexible work policies.
In this article, we’ll examine various flexible work models, their advantages and challenges, and the best practices for creating a robust flexible work policy in your organization. We’ll also discuss how to assess if your team is prepared for flexible working arrangements.
What is a Flexible Working Policy?
A flexible working policy offers employees the opportunity to complete their work while allowing for adaptable schedules with different start and end times.
This type of policy moves away from the traditional fixed-hour work model, offering several alternatives to accommodate diverse needs and work styles. Various types of flexible policies achieve this in unique ways.
Here are some flexible work schedule options your organization could consider:
- Flex time
- Results-only work environment
- Compressed workweek
- Flexible year
- Job sharing
- Unlimited vacation
- Reduced hours
The Scope of Flexible Work Policy That Works Best
Flexible work policies can incorporate five key “dimensions” that offer a variety of work arrangements. These dimensions provide employees with more choice while benefiting organizations in several ways:
1. Job Sharing
Job sharing allows two individuals to share the responsibilities of one role, bringing in a diverse range of skills and experiences. This approach not only enhances problem-solving capabilities but also helps manage demanding workloads more efficiently. Additionally, job sharing ensures continuity and work coverage during absences, while allowing employees more personal time without sacrificing career progress.
2. Part-Time Work
Offering part-time work can expand your talent pool by appealing to candidates who prefer or need flexible schedules. Retaining valuable employees who aren’t able or willing to work full-time is another advantage. Part-time arrangements are particularly useful for covering peak workloads and can be a cost-effective staffing solution.
3. Remote Work
Remote work allows employees to eliminate commuting time and expenses, contributing to reduced traffic congestion and a smaller carbon footprint. Organizations can also benefit from lower real estate costs by downsizing office space. Additionally, remote work often leads to improved productivity as employees experience fewer interruptions and greater autonomy, fostering a better work-life balance.
4. Compressed Schedule
A compressed workweek is ideal for managing peak workloads, as it increases total staff hours during busy periods and extends operational hours. It also reduces commuting time and expenses for employees, offering them an extra day off, which contributes to an improved work-life balance.
5. Flexitime
Flexitime allows employees to tailor their working hours to better align with personal schedules, such as school, college, or caregiving responsibilities. By avoiding rush-hour traffic, commuting becomes more convenient and less time-consuming. For businesses, flexitime can extend office hours, enabling clients to reach out earlier or later than usual, and enhancing customer service and operational flexibility.
The Benefits of a Flexible Working Arrangement
1. Better Retention of Top Talent
Flexible scheduling plays a crucial role in reducing employee turnover, especially for those with children, alternative lifestyles, or multiple jobs. A survey revealed that 55% of workers would consider leaving their roles if they lacked control over their schedules. By offering employees more flexibility and autonomy in their work hours, your company is more likely to retain its top talent. This allows employees to continue in their chosen roles while balancing other important demands in their lives.
2. More Sustainable Business Practices with a Lower Carbon Footprint
A flexible work hours policy, especially when paired with remote work and hybrid office setups, can lead to more environmentally friendly operations. With employees working from home or on flexible schedules, companies can reduce energy consumption and resource usage, including electricity, water, and disposable items like paper and styrofoam cups.
Telecommuting also cuts down on the environmental impact of daily commutes, leading to fewer cars on the road and reduced use of subways and buses, which ultimately contributes to improved air quality and a smaller carbon footprint.
3. Happier, More Satisfied Employees
A recent report from Owl Labs found that 84% of employees believed they would be happier working remotely after the pandemic, with some even willing to accept a pay cut for the opportunity. Additionally, over half of those who worked remotely during the pandemic indicated they would seek new employment if their flexibility to work remotely was removed.
Providing employees with flexibility and autonomy in their work schedules boosts engagement, enhances job satisfaction, and reduces stress and burnout—all factors that contribute to higher-quality work and increased overall happiness.
4. Reduced Costs
Implementing flexible hours can lead to significant cost savings for your company in multiple areas.
First, as mentioned earlier, flexible work policies help reduce employee turnover, which can save your organization thousands in hiring, onboarding, and training costs. With the average cost-per-hire hovering around $4,000, this can make a substantial difference.
Additionally, flexible work arrangements allow companies to downsize office space and cut spending on utilities and everyday supplies. Even seemingly small expenses, such as coffee, can add up—businesses typically spend between $50 and $125 per employee annually just on coffee alone.
5. Better Support for Working Parents
A flexible schedule can be a game-changer for working parents. Balancing work demands with childcare, school, and the needs of another working partner can be incredibly challenging. A flexible schedule allows parents to better manage their time and responsibilities, making their lives more manageable. This support is key to retaining valuable talent, ensuring that working parents can excel in both their personal and professional lives.
6. Advantageous for Recruitment
With more candidates seeking flexibility in their work schedules, offering a flexible working policy has become a key benefit for attracting top talent which is an advantage for HR solutions. Flexible hours, along with remote and hybrid work options, are now highly sought-after perks, on par with healthcare, vacation time, and even pet-friendly offices. By providing work autonomy, your organization strengthens its brand image and becomes more appealing to desirable candidates, helping you recruit and retain the best talent in the market.
