A great team is hard to find and expensive to replace. Money aside, losing key players affects morale and, worst-case scenario, can prompt a mass exodus, leaving whole departments devoid of senior leadership and perspective.
That’s why it’s so important to engage employees in ways that are meaningful and desirable. But what does “meaningful and desirable” mean? And what kind of impact is doing this likely to have on your bottom line?
Earlier this year, QuickBooks ran a pay and benefits survey, asking 1,000 employees about their satisfaction and what benefits they’d prefer from their employer. One key question asked respondents which incentive would motivate them the most. What do you think that was?
More money? More paid time off? Surprisingly, neither.
While those incentives were important, 76% of respondents chose a flexible work schedule as the best incentive their employer could offer. Flexible scheduling is becoming more common at modern organizations, and is even a highlighted perk for a number of Best Places to Work.
Why employers don’t offer flexibility and what they stand to lose
Flexible work schedules aren’t only appreciated, but now expected by many job applicants, especially remote workers. In 2014, Bentley University found something similar: 77% of millennials felt a more flexible work schedule would heighten their productivity.
Yet four years later, only 18% of employees surveyed by QuickBooks could say they currently have a flexible work schedule, and they’re not happy about it. In fact, 44% of those surveyed said they plan to leave their current job sometime within the next two years.
If so many employees want flexible work schedules, why aren’t employers hiring more remote workers—either to drive employee loyalty and retention or to bolster morale and the company’s reputation? For some, it may come down to a lack of understanding—both of what a flexible work schedule means to employees and how to implement such a policy.
To help employers better understand what they and their employees stand to gain from a flexible schedule, here’s one employee’s personal experience. Read more here…
Source: Bonusly Blog