Flexible Job Schedules Can Win Employee Loyalty
We have written quite a bit lately about how much work remains to be done within organizations to raise productivity by committing the cultural mindset of employee engagement.
Now along comes a survey from Flexjobs.com that gives us one more clue about how to structure the workday to improve employee loyalty, and raise engagement.
“Give me Space to Take Care of Personal Stuff”
Flexjobs surveyed about 1,300 people on the question of whether having flexible work hours would improve their loyalty (which we will equate to a higher potential of talent retention.)
Here are the top-line results (find more details here):
- 20% of respondents would take a 10 percent cut in pay to gain flexible work hours
- 7% would being willing to take a 20 percent cut in pay
- 20% would give up some vacation time
- 20% would give up health benefits (we assume they meant “some” here, too)
- 16% would give up employer-matching retirement contributions (we are actually surprised to see this below vacation time and health benefits)
It is important to note two key characteristics of the survey:
- 82% of the respondents were women, which may explain the strong finding in favor of flexible work hours.
- Conversely, only about 40% had children under 18 at home, so juggling childcare was not the main factor in desiring a more flexible work schedule.
The survey also had some interesting stats on where employees feel they are most productive; over 50% reported that they consider themselves more productive working in a home office. This will vary depending on whether they are thinking about individual work assignments. Group work clearly cannot be done productively at home!
The lesson to take from this is that you cannot structure an employee work environment and benefits packages that are cookie-cutter or all-inclusive. Allow employees to structure their own arrangements within certain parameters that would vary by job assignment. Above all, ASK THEM WHAT MAKES SENSE. Their answers may not be fully actionable, but will guide you in creating an employee relationship that encourages them to stay, rather than driving them away.
Do you benefit from flexible work scheduling options? Do you get the chance to work some hours or days at home? Do you shift your hours away from the standard 8-5? Is it a mix of the two? How does your company do it?