When it comes to growing your business, many employers turn towards the idea of flexible working. Once treated as a problematic request by “lazy” employees, flexitime for workers is now a definitive trend. It offers better productivity and an excellent work-life balance for everyone.
Flexible working is not a simple buzzword these days, but many business owners are stuck in the old way of thinking. If you’re looking to grow your small business exponentially, flexible working options can give you the edge you need. Not only will employees love it, you’ll also get a boost in productivity and financial benefits. Here’s how to grow your small business with the right flexible work options.
What is Flexible Working?
Before we delve deep into growing your business, we need to understand what is flexible working and how it affects you. Flexible work arrangements are a way to empower employees by giving them an option on when they can start working and when they can stop. The idea is to not shackle employees in a consistent daily shift.
While not every employee can take good advantage of flex arrangements, every business can create flexible employment systems. These can involve a number of methods, including work from home, compressed workweek, expanded leaves, and even telecommuting.
Many would question the effectiveness of flexitime and if it has benefits. From a specific viewpoint, flexitime can make people lazy and cut down on productivity by reducing their number of work hours, letting people set their start time or both. The idea that lack of supervision equates to a loss of efficiency is another common misconception.
The truth is that a pleasant and flexible workspace has several benefits to your employees, their productivity, and your business. Tying employees to a typical 9-5 work period may not have the same results as expected. People’s needs vary, so a typical workday may not give optimal returns to the amount of work they do.
Less rigid work arrangements can be an effective way to encourage better contributions from your employees. These schedules also help redress inequities that happen within households, usually preventing the need to choose between work and family.
Flexible Work Arrangements Improve Productivity
Rather than a loss of productivity, flexible working time offers a remarkable increase in productivity. This comes from several changes that happen within flex time, usually in regards to leadership. As management changes performance metrics, companies will find other ways to see how their employees do their work apart from being present in the office.
Flexible working initiates a results-oriented approach to business that emphasizes an increase in impact for less time. As long as you set specific deadlines with your employees, your business will find that employees will still complete the work at the same time. Flexitime prevents idling at the cubicle, encouraging employees to finish work faster.
If an employee has the ability to work from home, they save time commuting, giving them a chance to start early and work late. Employees can also remain more active, which further lessens idle time at work. By measuring your employees’ productivity from their results and meeting deadlines rather than their presence, you can get a better output.
Flexitime Improves Employee Retention
Allowing existing employees to work under a flexible schedule can help keep your staff, especially if they have been with the company for a long time. Flexitime allows for employees to keep their work-life balance in check, which gives them the perception that the company cares for their well-being.
Those who have responsibilities at home or out-of-work hobbies would value some flexibility at their work. This will motivate them to do their work and complete their jobs faster and with more morale. If your staff feel they’re valued by their employer, they’re more likely to stay.
Keeping a skilled staff is crucial for your business growth and overall financial health. Your small business relies on the consistent work of the people in its daily operations. You can’t afford to lose employees with the right skills and expertise for your business simply because of rigid work times.
Flexible Work Options Have Lower Costs
For small businesses who are looking for better business efficiency and lower operational costs, flexible working arrangements can be an effective solution. Depending on the options on the table, staff on reduced hours can deliver the results that you need for less salary. You prevent staff from twiddling their thumbs on downtime or using valuable company hours to set Gmail as a desktop app.
As noted, employees who work at home, for example, don’t have to spend money commuting. This lowers their gas bills, clothing expense, and lunch out. If your business provides catering or allowances, this can reduce your cost of allowances. Even without paying for these, the company can save on operational costs.
With a work-from-home team or a flexitime arrangement, companies can move to smaller offices that contain skeletal teams. Money that should be spent on utilities and office rental can go towards the bottom line too. You pay less for water, electricity, cleaning, and general maintenance.
Flexible Work Times Result In Creative and Engaged Employees
Happy, motivated employees help your business grow by improving the culture within the business. Employees who work within a flexible working environment are more likely to engage within the company and adjust to the company culture. They also contribute more valuable work than those sitting to burn their full eight-hour shift.
For creative teams, it encourages professionals to innovate. A less rigid work time gives them time to work on their creative juices and think of unique solutions to common issues in the company. Some may even be more than happy to provide more creative ideas because they don’t have to worry about office politics.
Flexible working creates a reciprocal feeling for those who benefit from it. Happy, creative, and encouraged employees will work harder and more efficiently, knowing that company culture looks out for their well-being. Employees are less likely distracted at work if they can resolve family issues in their own time.
If you’re looking to grow your business, flexible working can be a useful arrangement. Not only does it save you money by reducing operational costs, it also leads your employees towards a happier, more content work-life balance. Try it for your business and see why profitable companies are following this paradigm shift.