You will have no doubt heard about flexible, hybrid or agile work, especially over the last few months but you might be wondering what's the big deal with it, we have, after all, managed just fine working Monday-Friday 9-5.
Well, a boat will get you from the U.K. to the U.S.A. just fine, but most of us would prefer to fly, right?
The 40hr workweek was introduced by Henry Ford and then adopted here in the U.K. by Mr Boots (the Chemist) in the 1930s to increase employee engagement, improve productivity and boost profits. Flexible work is simply the evolution of this, the next step on the ladder to improving the way we work and it is exciting!
For instance, flexible work has been shown to significantly improve employee retention, so straight away you are saving money on hiring and training. Next, a study by Vodafone showed that 83% of companies that offer flexibility see a large increase in productivity and KPMG showed that staff members working reduced hours were 22% more productive than your average full-time staff member!!
Flexibility can also save your business money - BT says that they save approximately £100,000,000 PER YEAR, increasing their profits by more than 20%, by offering remote work.
But more than this, offering flexibility can help promote your business as an Employer of Choice, make it easier for you to attract and hire great people, improve the diversity within your business. and give you the edge over your competition.
So offering flexibility can improve your company's reputation, increase staff engagement, retention, productivity and profitability all whilst reducing costs. I'm sure most businesses would jump at the chance if there was a software package that could do this or a marketing solution, so why not when it comes to looking after your most important asset - your people.
For more information on working flexibly including the different types and how you might start to discuss flexibility with your team, please contact our Managing Partner Simon Gregory.