In recent years, flexible working conditions are becoming increasingly popular, and with COVID-19 causing businesses to assess new strategies and processes to maintain the frontline, the emphasis to move to a modern workplace has only been accelerated.
Understandably, some business owners may fear that this shift in culture may lead to less collaborative work, or hinder business processes with the struggle to manage staff remotely. However, what many business owners fail to realize is that creating a tailored approach to providing a flexible work environment has many benefits moving forward.
Learn from the experts
In 2016, Vodafone conducted one of the largest global surveys of its kind, which drew on responses from small and medium-sized businesses, public sector organizations and multinational corporations within three continents. From the 8,000 employers and employees surveyed, 83% of respondents reported an improvement in productivity, with 61% stating their company’s profits had increased, and 58% believing that the flexible working policies had an enhanced positive impact on their organizations reputation.
“Vodafone’s research reveals a profound and rapid shift in the modern workplace. Employers are telling us that flexible working boosts profits while their employees tell us they’re more productive. Central to all of this are the new technologies that are reshaping every sector, from high-speed mobile data networks and fixed-line broadband to the latest collaborative cloud services. We truly are in an era when work is what you do, not where you go.”Nick Jeffery, Vodafone Group Enterprise Chief Executive: <https://www.vodafone.com/business/news-and-insights/press-release/vodafone-survey-reveals-rapid-adoption-of-flexible-working>
Benefits to a flexible work environment
With greater flexibility for employees, there is a positive flow-on affect for both the employee and the employer.
- Greater flexibility equals happier employees, enabling a greater work-life balance, and ability to engage in activities that contribute to their personal growth and professional development.
- Greater employee engagement at the workplace, thereby increasing productivity and decreasing absenteeism.
- Boost the business’s bottom-line by increasing staff retention. Studies show that replacing an employee earning a median salary of $45,000 a year could cost up to $15,000.
- A business completive advantage, with an increasing number of workers prioritizing flexibility over higher invoice, with the ability to hire highly-talented staff that may not normally be accessible.
Adopting a business intelligent strategy
Moving to incorporate a flexible work policy may seem overwhelming, however with the right tools and technology in place will ensure that business continues to run smoothly.
- Adopt Modern Technologies: Leverage technologies that encourage teamwork and streamline business processes; such as project management systems, Microsoft PowerBi, and Microsoft Teams. Cloud-based systems and collaborative software provide new platforms for analytical insights, drive competitiveness, and business growth.
- Modern Workplace Training: Employees aren’t necessarily familiar with how to work in a remote environment efficiently. Through adequate training, communication and teamwork will be done with ease using through virtual cloud-based platforms.
- Communicate, Communicate, Communicate! It is important to schedule weekly or daily team meetings virtually to ensure staff feel connected and reduce email dialogue. Make it an essential part of your daily culture.
- Consistency is key. Create a culture and work environment based off of trust and respect. Ensure that the flexible work policies have been made clear, and available to all employees to benefit from.
Looking to join the movement? Book some time with one of our consultants and see how we can help your employees and your business adapt to the change.
Citation: Karum, Louise. Why SMEs Should Embrace The Flexi-Time Movement. Entrepreneur, 2018.