Giving employees the freedom to choose where and when they work, can keep them from looking elsewhere and save companies the considerable long-term costs of employee turnover.
According to the sage journal survey conducted in America last year:
• 74%
believe flexible working improves employee retention
• 71% think
it makes employees more loyal
• 73% said
flexible working lowers stress levels amongst staff
• 59% would
turn down a job completely if it didn't offer flexible working
Flexible work options can reduce employee absences and turnover, both of which typically cost employers a hefty sum in lost productivity and extensive replacement costs. In fact, The Bureau of National Affairs estimates that over $11 billion is lost annually due to employee turnover.
Would you turn down a promotion in favor of more flexible working?
Being offered a promotion is of course
very flattering, but sometimes the lure of a shiny new title and more money
just isn’t enough for some people. The thought of longer working hours, business
travel and more stress means they would rather take a lower paid role if it
means getting their work-life balance sorted.
Flexible working is more than just working
from home, not only is it not an option for some job roles, but sometimes being
flexible on working hours or using skype to have a meeting instead of traveling
to the office can make you feel appreciated and much more willing to go that
extra bit further for your employer because you know you are valued. So its win, win. The employee is happier
because they can be there for their child’s parents evening and the employer is
happy because they are getting a dedicated employee who is giving 110%.
What are your thoughts? Is flexibility important to you?
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