7 reasons why companies should embrace workplace flexibility
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A recent study by the Society for Human Resource Management found that nearly 80% of companies offer some form of workplace flexibility. However, many businesses are hesitant to embrace workplace flexibility policies. Here are 7 reasons why every company should jump on the bandwagon and offer workplace flexibility:
1. Employee satisfaction and retention will increase
Workplace flexibility policies have been shown to lead to increased employee satisfaction and retention rates. A study by the Families and Work Institute found that employees who had access to flexible work arrangements were more likely to report higher job satisfaction and commitment to their employer. Additionally, a survey by WorldatWork found that employees who had access to flexible work arrangements were less likely to quit their job. So, if you want to keep your best employees happy and reduce turnover, offering workplace flexibility is a no-brainer.
2. Employee productivity will increase
Contrary to popular belief, offering employees flexibility does not lead to decreases in productivity. In fact, studies have shown the opposite to be true. A study by Stanford University found that employees who had the ability to telecommute (work from home) were more productive than those who didn’t have this option. Additionally, a study by the Boston Consulting Group found that employees who had access to flexible work arrangements were more productive than those who didn’t.
The hybrid workplace model
Moving to a hybrid workplace model that functions both at home and in the office is a great way to increase productivity and creativity, while also giving employees the flexibility they crave. So if you’re looking for ways to increase employee satisfaction and productivity, offering workplace flexibility is a great place to start. As Hybrid Workplace experience has been shown to lead to increased employee satisfaction and retention rates. A study by the Families and Work Institute found that employees who had access to flexible work arrangements were more likely to report higher job satisfaction and commitment to their employer. Additionally, a survey by WorldatWork found that employees who had access to flexible work arrangements were less likely to quit their job.
3. It’s good for business
Offering workplace flexibility can also be good for business. A study by the Harvard Business Review found that companies who offer workplace flexibility are more likely to have higher revenue growth and profitability. Additionally, a study by Boston Consulting Group found that flexible work arrangements can lead to cost savings of up to 30%. So, not only is workplace flexibility good for employees, but it’s also good for business. This is a win-win situation for everyone involved. For example, a company that offers flexible work arrangements is likely to see increased employee satisfaction and productivity, which will lead to increased revenue growth and profitability.
4. It will make your company more attractive to job seekers
In today’s job market, offering workplace flexibility is a great way to make your company more attractive to job seekers. A survey by the Society for Human Resource Management found that nearly 60% of employees would prefer a job with flexible work arrangements. So, if you want to attract top talent, offering workplace flexibility is a must.
Additionally, studies have shown that offering flexible work arrangements can help you attract and retain diverse talent. A study by the Center for Talent Innovation found that 63% of racially diverse employees and 74% of LGBTQ employees would prefer a job with flexible work arrangements. So, if you’re looking to diversify your workforce, offering workplace flexibility is a great place to start.
5. It can lead to cost savings
Offering workplace flexibility can also lead to cost savings. A study by the Boston Consulting Group found that flexible work arrangements can lead to cost savings of up to 30%. So, not only is workplace flexibility good for employees, but it’s also good for business. Additionally, a study by WorldatWork found that telecommuting (working from home) can lead to cost savings of $11,000 per year per employee. So make sure to consider the cost savings when you’re making the case for workplace flexibility.
6. A Better work-life balance
One of the main benefits of workplace flexibility is that it can lead to a better work-life balance. A study by the Families and Work Institute found that employees who had access to flexible work arrangements were more likely to report a better work-life balance. Additionally, a survey by WorldatWork found that employees who had access to flexible work arrangements were less likely to work long hours. So, if you’re looking for ways to improve your work-life balance, this is the best way to go. For instance, if an employee has a flexible work arrangement, they are more likely to have time for family, friends, and hobbies outside of work. This is important because it can lead to a happier and more productive workforce. A study by the Harvard Business Review found that happy employees are 12% more productive than unhappy employees.
7. Better mental and physical health
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Finally, workplace flexibility can also lead to better mental and physical health. A study by the Harvard Business Review found that employees who have access to flexible work arrangements are less likely to experience work-related stress. Additionally, a study by the American Psychological Association found that employees who telecommute (work from home) report lower levels of stress and better mental health. Also, people who spend less time commuting have been found to have better physical health. This leads to a better quality of life for employees and can also lead to cost savings for employers. For instance, a study by the World Health Organization found that employees who have a long commute are more likely to suffer from depression and anxiety. So, if you want to improve your employee’s mental and physical health, offering workplace flexibility is a great way to do it.
As you can see, there are many reasons why companies should embrace workplace flexibility. If you’re looking to improve your company’s bottom line, attract top talent, or improve your employees’ mental and physical health, offering workplace flexibility is a great way to do it. So don’t wait – start offering flexible work arrangements today. Your employees will thank you for it.
Thanks for reading!