Flexible working has been a bit of a hot button topic recently. With more employees expecting a degree of flexible working and more employers experimenting with flexible working solutions, it’s easy to see a future where flexible working is commonplace in every business. But there are still many business owners out there who aren’t sure of the benefits of flexible working and why they should give it a try. You see, flexible working is more than just working from home, it’s about working from wherever you need to be to operate effectively and win business. It’s also a very attractive benefit for employees, helping you attract more, higher qualified candidates for new job roles.
Greater Employee Satisfaction
When it comes to prolonged job satisfaction, it really is the little things that make the difference. For an employee, being able to stay in to have the washing machine fixed without having to use up holiday or sacrifice pay goes a long way. Flexible working is a way of showing your employees that you trust them, and that you value their wellbeing. For mothers with young children, flexible working allows them to achieve a work life balance during a stressful and often difficult to manage time in their lives. All of this adds up to greater employee satisfaction on an ongoing basis, which has been proven to decrease sick days, increase productivity and lower employee turnover.
Attract More, Higher Quality Candidates
As we discussed in our article ‘have office perks lost their pulling power’, company culture is viewed as more important for smaller and medium sized businesses than spectacular office perks, which are often reserved for bigger businesses. While offering flexible working might seem like a ‘perk’ at first, it is actually an indicator of your company’s ability to trust your employees, your attitude towards work and the value you put on your employee wellbeing. Flexible working is now being viewed favourably by candidates as a long-standing benefit, and as such this will attract top level talent to your business above your competitors.
From a business point of view, allowing employees to work flexibly not only gives you happier, more productive employees, but it also saves your business money. The single biggest overhead for most small businesses is office space, and the larger your team, the more space you need to buy or rent. For many employees providing desk space is often a waste of resource, especially if they will be away from the office for extended periods of time. So instead of providing desk space for all employees, hot desking and flexible working can mean less office space to be paid for.
As with every business change, you need to take a step back and look at how flexible working will affect your business. Most businesses will see real, concrete benefits in terms of cash flow, productivity and employee retention, and after some time many will see an improvement of the types of candidate they are attracting. If you are a business owner looking to grow your business and attract top level talent for your new roles, there are worse things you could do. For more information about using flexible working to attract better candidates, get in touch with us today.