Why flexible working is a win-win for workers and businesses: Chris Britton
It may now be behind us for this year but everyone is familiar with the usual perils of summer - out of office replies, delayed projects and reduced teams grappling to meet deadlines.
But this year, summer introduced a new layer of potential absenteeism. The World Cup, which was streamed in the early hours, threatened late starts on work days for those staying up. Heatwaves proved to be an even more persistent issue, disrupting travel and creating difficult commutes, while overheating workers and hindering productivity.
However, this isn’t just about summer weather - flexible working matters all year round.
The current state of the UK's oversaturated job market means that businesses have the luxury of cutting corners when it comes to employee wellbeing. Our research shows that over a third (33 per cent) of Brits working in the Yorkshire region have stayed in their role longer than they would have liked due to economic conditions.
People are seeing work simply as a means of survival, even when it is no longer fulfilling. On the other side of the coin, unemployment in the UK is at a record high due to the NEET crisis and long-term sickness.
This is exacerbated by the number of people who cannot yet retire, whether due to the rising age of retirement or because they simply cannot afford to
But while it may seem like there’s a ready supply of people ready to work, unhappy workers don’t produce good results, and replacing them without solving the core problem will quickly become a costly one.
At the same time, employee expectations have shifted as well. Whether its parents, pet owners, people managing health conditions or neurodivergent employees who work better on their own schedule, flexibility is no longer a perk; it’s business critical.
Work-from-home policies, hybrid working and flexible start times are all part of an evolving workplace culture, and it’s up to businesses to adapt in order to get the best out of their employees.
In fact, work-life balance is a factor 83 per cent of working Brits in Yorkshire would consider when looking for a job. This reflects a shift in attitude that businesses could easily, and cheaply, accommodate.
By introducing more flexible policies, businesses have the opportunity to attract new talent, bringing in new skills and ideas. It wouldn’t be a bonus to just applicants either. Happier employees equate to higher retention rates. Not only do they feel more loyal, but happy workers are 42 per cent more likely than average to feel productive or motivated, according to our research. Flexibility may seem like it takes away from meaningful work, when in reality, it only bolsters it.
Businesses need to accept that employees are not just there to work - they’re people first. With that comes certain life events and experiences that might take precedence over work - and a little flexibility will go a long way.
Consider letting commuters come in during off-peak hours, or clock off to accommodate school pick-up. Allow one-off late starts when global sports events take place over midnight. Any action that takes into consideration the wellbeing of your workforce will be reflected by lower rates of absenteeism, boosted productivity and stronger retention.
Our analysis with the London School of Economics (LSE) found organisations that score highly in employee happiness see a significant 12 per cent uplift in productivity, which translates into a 20 per cent increase in overall firm value. Assuming productivity gains translate directly into Gross Value Added (GVA), happiness-driven practices could theoretically add up to £334 billion to the UK economy every year.
Not only does flexibility benefit your business, but it shows your employees that you trust and care about them.
Most importantly, it sends the message that employers are adapting for the modern workplace, and solving modern challenges.
Chris Britton is People Experience Director at Reward Gateway