What’s The Number One Benefit You Can Offer Employees?

It’s time to delve deeper into what consistently ranks as a key driver of employee retention – and it has nothing to do with outrageous remuneration, offering sleep pods or pool tables…

First, the statistics: 74% of employees would consider moving to another job or employer if they knew it offered flexible hours; 61% of surveyed Australians nominated ‘flexible working arrangements’ as their number one work benefit; and 81% of Australian businesses offer flexible working practices – however, 56% of Australians are currently not able to work from home (72% say they want that opportunity).It’s apparent that offering flexibility is not just a ‘nice to have’ in today’s world – it’s a necessity if employers hope to attract and retain talented employees. That’s the key theme to emerge in Adecco’s latest white paper, titled The Power Of Workforce Flexibility.

The notion of workplace flexibility may not be new, but never before have so many variations on flexibility been possible.

Facilitated by advances in technology and greater acceptance on the side of both employers and employees that traditional notions of work are no longer effective or desired in 2017, today the concept of flexibility – whether that is the ability to work from home, or simply working fewer hours – appeals to a wide spectrum of employees.

“Workforce flexibility is a cross-generational requirement whether it is a millennial seeking greater work-life balance or a baby boomer transitioning to retirement” – Marianna Mood, General Manager, Adecco Office.

It’s not just technology that is opening the floodgates to greater flexibility; it’s also the decline of traditional concepts of Monday to Friday, 9 to 5 work, as well as the rise and rise of the so-called Gig Economy.

Gig Economy workers, in particular, have forced employers to accept ‘blended workforces’ – consisting of full-time, contract and freelance workers – as a reality.

Today it’s almost expected that an employer will offer some form of flexibility – and many have had to scramble to keep up.

What does this fundamental sea-change in employee-employer relations mean for employers?

There are obvious cost benefits, but there are also productivity benefits. While it may seem counterintuitive, a study by the Michigan State University Family Resource Centre* has shown that increased productivity and better quality of work are core benefits of a flexible work schedule. Employees who are able to schedule their work day around other obligations have a better ability to put full mental and emotional attention on work. This improves an employee’s ability to concentrate on work and commit to job objectives.

“True workforce flexibility increases employee engagement and the companies that are getting it right are seeing the benefits in culture, brand awareness and access to top talent” – Marianna Mood, General Manager, Adecco Office.

Adecco’s white paper builds a solid business case for those still sitting on the sidelines, unsure of the benefits of offering flexibility to staff. From the ability to turn the flow of niche skills on and off, to the cost benefits of having on-demand talent – as opposed to full-time talent – on the books, this white paper outlines how to make flexibility work for your business.

The Power Of Workforce Flexibility delves into the practicalities of managing a blended workforce, consisting of full-time and contingent workers, as well as the key benefits and potential operational risks that blended workforces can present to an organisation. Although workplace flexibility brings countless benefits to an organisation, it also requires a fundamental rethink of some of the ‘nuts and bolts’ of managing employees.

Traditional talent management strategies (everything from performance management processes to reward & recognition schemes) need to be re-formulated and corporate cultures need to adjust to the reality of no longer having all employees located in one location at the same time.