The pandemic created new opportunities for employees to work from home. Technology also aided with meetings and conferences held via video conferencing. Technology also allowed employees to access information from anywhere on their laptops and smartphones. The new flexible arrangement ensured that employees remain productive and companies’ bottom line and topline remain unaffected.
Though there are advantages to flexible working, many organizations are hesitant to embrace this arrangement as they think that it will benefit only the employees and not the company.
However, the fact is that remote working can benefit both sides. For employees, their work-life balance and overall productivity will improve. This will also help the company to achieve its business targets.
Here are 5 ways a flexible working arrangement can benefit employees and companies.
- Cost-effective
Flexible work can help both employees and employers. A remote workforce means that the company can cut down operational office expenses. Fewer workstations for individual employees mean smaller office space. This saves on the costly office rent and electricity, facility management expenses, consumable tea/coffee, and other pantry expenses. For employees, working from home helps them to save commuting time and travel costs. It provides them with more cash in hand.
- Greater employee productivity
Working 9-6 in the office during the week does not guarantee productivity. Commuting time and office chats can eat away precious time. Many employees are more productive in their own space and time. Allowing them to work from home gives them the flexibility to focus more during work and get the desired productivity.
- Improved company culture
Flexible working hours mean employees are isolated. However, if the company ensures suitable team-building activities online, it can help the individual bond better. Since employees are on their own, they will make extra effort to communicate and collaborate with other team members to ensure deadlines and targets are met. There is also a lower scope of office politicking in remote work arrangements. Once in a while, offline or offsite team building activity will ensure employees look forward to meeting and bonding with colleagues.
- More loyalty and lower employee turnover
Employee recruitment is not only time-consuming but also challenging to get good ones. Organizations, whether large or small, knows this problem and understand how important it is to retain employees. The high attrition can be frustrating. It means starting the employee recruitment and training process all over again.
BY allowing flexible options to employees, companies can empower them to use their time wisely and improve the work-life balance. Employees after the pandemic have tasted the advantages of not commuting and saving more time and money. They will be more than happy if the flexible option in their employment terms. Also, the most important thing any employee desires secretly is the freedom to work independently, which is impossible in office environments. This intangible benefit will ensure greater loyalty and less turnover.
- Attractive incentive tool
Offering flexible working arrangements is now a part of the employment terms post-pandemic. For specific industries like software, this is now a significant perk to work from the remote end. With plenty of demand for excellent and skillful candidates, many organizations offer flexible and remote work options as part of the employment benefits. This incentive is crucial to attracting top talents today.
Takeaway
The 9 to 5 working hour in office days are over in the corporate sector. The viability of smartphones, tablets, iPad, and laptops with new video technologies like video conferencing has empowered the employees to be accessible at any time anywhere. Also, the wide usage of cloud storage means that employees from anywhere can safely and securely access a company’s files, records, and data.
