Benefits of Flexible Work Arrangements
With the increasing emphasis on work-life balance, introducing Flexible Work Arrangements will enhance the company’s strategy in recruiting new talent. This would serve as employer's unique selling point, differentiating them from competitors and improving recruitment efforts.
With tech-savvy millennials constituting nearly 35% of the workforce by 2020, greater job flexibility is highly sought after as most believe in working anywhere and at any time with instant connectivity. Introducing Flexible Work Arrangements would enhance employer's appeal to this pool of prospective talent.
Flexible Work Arrangements enables employees to better balance both work and personal commitments. This increases work efficiency, job satisfaction and thus the retention of crucial experienced staff as work-life needs are now met.
Total Rewards Strategy
Employees are shown to be willing to accept up to 20% lower pay in exchange for greater job flexibility. Thus, introducing Flexible Work Arrangements would enhance employer's benefits package while increasing the company's overall attractiveness to both current and prospective talent.