How Employers Benefit from Expanded Workplace Flexibility

The best way for businesses to attract and retain the best talent is to offer great compensation AND policies for workplace flexibility.

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Every year brings new HR trends and 2021 is no exception. The global pandemic has had a huge impact on both employers and employees; affecting the way we feel about work life balance. As such, it’s not surprising that one of the top HR trends for 2021 is expanded workplace flexibility. Many employees got a taste of more work flexibility during Covid-19 shutdowns and now they don’t want to go back to the way things were. In fact, research has shown that people seeking new jobs consider flexible and remote work options the second most important factor in their decision to apply – only after compensation. Younger workers may even value flexibility over compensation. A survey from Qualtrics and Accel Partners, reported by CNBC, found that about 76% of millennial employees said they would be willing to take a pay cut for flexible working hours.

The best way for businesses and organizations to attract and retain the best talent is to offer great compensation AND employee-friendly policies that allow workers more flexibility. It’s no surprise that employees are demanding more flexibility. A flexible workplace respects work-life balance, which is the concept that employees do and should have a life outside of their work and that work should not dominate every part of a person’s life.

The year 2020 proved to be an amazing experiment on workers’ ability to get the job done while working at home. Employers should take a look at the outcomes and offer as much flexibility as they reasonably can.

What is workplace flexibility?

A flexible workplace is one where managers are willing and able to adapt to change that affects their employees, especially when it comes to when and how work gets done.

How does workplace flexibility look in practical terms?

Expanding workplace options for employees means giving them more freedom to get their work done in a way that works better for them. In practical terms, offering employees more flexibility can look many different ways. Here are some examples:

  • Letting go of rigid rules about the way work needs to be accomplished.
  • Allowing workers to take more ownership over their own projects.
  • Asking for employee input when creating schedules and assigning shifts.
  • Giving workers the opportunity to work from home (WFH) at least part of the time.
  • Providing Paid Time Off (PTO) instead of vacation and sick days, allowing employees to take a mental health day, a day to be home with a sick child, or take a vacation without feeling guilty.
  • Making exceptions for unexpected family circumstances and personal needs.
  • Embracing the work style and preferences of different employees.

Why employers should embrace workplace flexibility

1. Attracting top talent. Businesses that offer a flexible workplace are much more likely to attract top talent.

2. Increased employee retention. Employee turnover is one of the most expensive parts of being an employer and these days, more employees than ever are willing to quit their job if it isn’t meeting their needs. Workplace flexibility increases the bottom line because employees are happier, which increases retention.

3. Increased attendance and productivity. It may seem counter-intuitive, but providing workers with more flexibility actually increases the number of employees that show up to work, while reducing tardiness. Increased attendance is likely to result in increased productivity.

4. Reduced office costs. If all or part of your team works remotely, you will save money on office leases.

5. Cement your reputation as a great place to work. As the word gets out that you offer your employees flexible work options, it will cement your reputation as a great place to work. This works to increase both customer and employee loyalty.

Partnering with Makai HR

You know what else increases employee retention? Great benefits. And we’ve got you covered through HR outsourcing! When you partner with Makai HR you can get on with the business you are trying to grow while we take care of your employee needs from payroll to taxes, health insurance/benefits and worker’s compensation. You also gain peace of mind that you are compliant with all of Hawaii’s employer laws (if you’ve ever looked you know that the list is very long). When choosing a PEO to partner with, there are many things to consider including cost, services and technology solutions.

With the cost of doing business in Hawaii at record highs, we know how important it is to keep labor costs in line with revenue. Our plans are priced competitively and include value-added services like time-in/time-out systems. Our three tiers of PEO service plans are tailored to the size of your business and specific needs. We offer a 100% paperless solution which means that your employees can manage their needs through a computer, tablet or phone. We can truly improve your employees’ work benefits while freeing you up to run your business.

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