The concept of flexible working is becoming a more and more prominent draw for employers and employees alike, largely due to the significant long-term benefits that it can bring.
According to research 67% of employees wish they were able to work flexibly, whilst a third of employees would favour flexible working over a pay rise. Statistics on flexible working varies depending on a worker’s age and gender, with millennials revealed as its biggest advocate.
Flexible working can take many forms including:
- Job sharing
- Working from home
- Part-time hours
- Compressed hours (full time but across fewer days)
- Flexitime (employees choose when they begin and end their day between core hours)
Take a look below as we explore the top benefits of flexible working for employees and employers.
Benefits for employees
One of the main reasons many want to work flexibly is to give them more time with their friends and family. In fact, in a recent survey 57% of people with access to flexible working stated that it gives them more control of their work life balance.
Commuting can cost a great deal of money no matter which mode of transport you use. Travelling during the morning and evening rush hour will undoubtedly cost you more than travelling outside of peak hours. Therefore, it goes without saying that working from home or being able to travel to and from work outside of these hours will save on the cost of peak tickets, petrol and much more.
Stress from your journey to work can be caused by many things including, fitting onto a packed train, rushing to reach your bus or train, traffic, poor drivers, etc. Travelling to work outside of rush hour, or not having to travel at work at all, will ultimately save a great deal of stress.
Benefits for employers
Higher staff retention
With employers across the world adopting a flexible attitude to working hours, they are noticing high staff retention in the long run, likely down to the greater job satisfaction employees have as a result.
Higher levels of motivation
Any business owner knows that to keep your workforce loyal and motivated then you need to offer certain benefits to encourage them to do their best work, and flexible working is now one of the most popular benefits amongst employees.
Attracting the best staff
Flexible working is an enticing incentive for prospective employees when searching for a role. This will ultimately mean that you will attract the best candidates.