How business leaders are coping with the talent crisis

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Whether companies are on the front lines fighting the ‘big quit’ or looking for ways to balance employees’ work lives, new data shows flextime is becoming a go-to method for improving work for more people. of people.

What is a flexible schedule?

Flexible hours can take shape in several ways. But the central idea is to maximize freedom while maintaining productivity. For some companies, that might mean giving employees a bank of flexible hours that they can use for work-life arrangements. For others, it may mean letting employees decide when their workday begins and ends, as long as the work is done and their teammates can count on them. And for weekend enthusiasts, it might look like “flex Fridays,” a day when there are no meetings, emails, or chats and employees can choose whether or not to work.

Imagine an employee who has to take care of his children in the morning but who is free to work later in the evening. Or another employee who needs a few Fridays off a month to care for their aging relative or just to recuperate after a long week. With flexible schedules, these employees can keep their current job, their work schedules can accommodate, and you don’t have to lose your valuable employees.

What is the right level of flexibility for your business?

Not all companies can offer the same level of flexibility to all employees. For example, if your business depends on having workers on site to serve customers at 10:00 a.m. every day, a flexible request to arrive at 6:00 a.m. might not be practical. But maybe a compressed schedule of four 10-hour days with an extra day off makes more sense.

On the other hand, maybe your business can operate remotely with full flexibility and all employees clock in as they please. But what are the implications for team culture and collaboration? Perhaps creating fixed days in the office set aside for strategic work, meetings, and team building can balance out your flexible work schedule. You wouldn’t be the first to try it. More than half of businesses (57%) have moved to some form of hybrid remote/onsite model since the start of the pandemic.

What are the best practices for adopting flexible hours?

Flextime can be a powerful retention and recruiting tool – if done right. Here are some ways to maximize their benefits:

  • Focus on fairness. Flexible hours can be a game-changer, but they can also raise new questions about fairness. Who has access to flexible working? Are you making accommodations for frontline staff that are commensurate with the benefits you provide to your remote workforce?
  • Work with employees on their schedules. Create a flexible schedule with your employees is an opportunity to show that you are invested in their careers and in their personal lives. The more collaborative the negotiation process, the more your employees will appreciate the outcome.
  • Communicate. Show your staff why flexible working hours are important and how your company invests in its people. Set up regular touchpoints or weekly meetings for your team to share schedules and work through potential roadblocks.
  • Keep their team members informed. You want to strike a balance between putting the team first and giving your employees the autonomy to build a schedule that works best for them. If an employee’s schedule changes, they should notify managers and other co-workers so that everyone involved can coordinate accordingly and allow time for swapping shifts and taking over shifts. open.
  • Document your policy. Make sure your settings are clear and everyone understands the new policy. Then highlight your flexible policy in recruitment ads to signal that you are a progressive employer aligned with the needs of your employees.

The future is flexible

In a labor market defined by employee turnover, giving employees the freedom to choose how, where and when to work can be a compelling reason to join and stay with your company. The workplace is changing faster today than it has for generations. Employers who can scale with it will benefit the most.

For more information on how companies are approaching the future of work, check out the 2022 Business Leaders Outlook survey.

About the 2022 CEO Outlook Survey

This survey was conducted by Chase Insights from November 11-29, 2021. It features data from 1,005 business leaders in professional services, retail, technology, healthcare and other key sectors . The results of this online survey meet the statistical parameters of validity, and the error rate is plus or minus 3.1% for the results, at a confidence level of 95%.

You can also explore trends in JPMorgan Chase CEO Outlook Survey conducted for mid-sized companies.

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