The ROI of Workplace Flexibility. Allison O Kelly, Founder/CEO

Transcription

1 The ROI of Workplace Flexibility Allison O Kelly, Founder/CEO

2 Why we ve not all embraced flex Common myths, fears and misunderstandings are holding us back. Mismanagement Loss of control Reduced productivity Sound familiar?

3 Myth 1 If I institute flexibility, everyone will want to work from home all the time.

4 False. Flexibility takes many forms

5 Myth 2 If I can t see them; they aren t working.

6 False Consider ROWE (Results Oriented Work Environments) In a national survey of working adults, Mom Corps found that 53% think they would get more work done if they had the ability to work from home occasionally.

7 Myth 3 We offer flexible work options but no one wants to participate.

8 False No one wants to wear a scarlet F. Management must take the lead in participating in flexible options.

9 Why offering flexibility matters There is a growing desire for it. Other companies offer it are you? It is here to stay. Nearly 1 in 2 working adults are willing to give up some percentage of salary for flexibility at work an average of 10% of salary 68% of professionals report having at least some flexibility at their job. 60% of professionals agree that the state of the economy has no impact on their desire for flexibility at work.

10 Changing our minds about work We have to change our mindset if we want to see the benefits of flexible work situations. The shift to contingent work is one of the most powerful, important workplace trends we're facing, and is forecasted to make up half the workforce by We will never see the ROI of flexible work solutions if we don t start strategically implementing those solutions now. Sources include Staffing Industry Analysts, Staffing Talk

11 The war for talent For top talent, it s now a candidate market. A prolonged period of intense competition Top applicants are both scarce & sure of themselves Employees leave by the droves Firms regularly raid each other for talent Bidding for top talent is commonplace

12 Flex = hiring advantage Caring for Kids Alternative to retirement Caring for Elderly Parents Why people need flex Working a second job Post graduate education Generations will mix increasingly at work, so employers will have to find ways to recruit and motivate workers from both ends of the generational spectrum. - Staffing Talk Quality of life

13 Flexibility isn t just a mom thing Generation Y Always connected, the 9-5 lines are blurry Desire freedom to explore passions Open and highly adaptable to new situations In a national survey of working adults, Mom Corps found: Compared to their older generational counterparts, year olds (65%) agree that flexibility is one of the most important factors they consider when looking for a new job or deciding where (for which company) to work.

14 Flexibility isn t just a mom thing Generation X Established professionals, want to be measured by results Many have family situations that require a level of flexibility In a national survey of working adults, Mom Corps found: 45% of working adults are willing to give up some percentage of their salary for more flexibility at work; 8.6% is the average proportion of their salary they are willing to relinquish. And Millennials are willing to sacrifice 14% of salary, on average.

15 Flexibility isn t just a mom thing Boomers Looking to phase into retirement Many are responsible for the care of aging parents In a national survey of working adults, Mom Corps found: 42% of working adults had elder care responsibilities in the past 5 years.

16 What s in it for your organization? The reality The workplace is evolving. 9-5 is just a song lyric. According to one 2012 Families and Work institute survey, 77% of companies allow employees at least some control to change start and quit times each day.

17 What s in it for your organization? Less office spaces to provide. Depending on the work styles implemented, less to pay out in benefits.

18 What s in it for your organization? Decrease in attrition of top talent: If you re offering the best work situation out there, your top talent will be less inclined to go elsewhere. Flexibility is often a preferred stand in to a raise. Remember this from earlier: 45% of working adults are willing to give up some percentage of their salary for more flexibility at work

19 What s in it for your organization? Less absenteeism: If you take the focus off of time spent in the office and put it on results (ROWE), professionals will know that they can meet their familial requirements and still get their work done in their own way.

20 What s in it for your organization? Access to a larger talent pool: If hiring isn t bound geographically because of virtual work options, you have access to more talent, at varying rates depending on the location.

21 What s in it for your organization? Increased productivity: Research has proved time and again that professionals with flexible options get more work done. Remember this from earlier: Mom Corps found: 53% of working adults think they would get more work done if they had the ability to work from home occasionally.

22 Best practices Ask employees opinions Define hrs for on & offsite Promote programs externally

23 Ask employees their opinion They likely aren t asking for much, just some understanding that they have a life outside of work Work/life preferences aren t one size fits all. A frank discussion will open the lines of communication on what employees need. When this conversation happens, expectations can come forth on both sides. Encourage employees to share their needs no judgment! Leadership should do the same.

24 Define regular hours for on/offsite days Establish days each month when everyone is required to be in the office For offsite days, establish times when everyone is available on both and by phone These small measures will alleviate anxiety around implementing flexible options

25 Promote programs externally Apply for best places to work designations and top family friendly programs Advertise a culture of flexibility in job descriptions as a main point, not an afterthought Share your flexible work culture as a best practice for retaining top talent

26 How will YOU ensure that your company remains competitive in this new flexible business world?