Flexible working cost save billions according to new report
15 July 2013
UK organisations could enjoy cost reductions and productivity gains running up to £8.1bn, or 0.5% of GDP, by optimising their approach to flexible working according to new study.
The report published today by the think tank RSA and Vodafone UK found the potential net value is £8.1bn.
The Flex Factor, based on a survey of 2,828 employees and employers, finds that employees estimate they could gain on average five productive hours per week e.g. commuting through better ways of working, which equates to around £4,200 per employee per year.
Jeroen Hoencamp, Enterprise Director at Vodafone UK said: “The traditional workplace is dead and British business needs to adopt a new mind-set. Flexible working isn’t just working from home and these findings reveal that, with an optimised approach, businesses can overcome any downsides and greatly increase efficiency and productivity, as well as boost their bottom line.”
While 77%, of UK employees work in organisations that offer some kind of flexible working, more than one in ten (13%) who want to work flexibly aren’t being offered it, or don’t know they can ask for it.
The report reveals that better ways of working are a key driver of productivity, performance and organisational innovation as well as employee satisfaction and wellbeing. 64% of those with experience of flexible working say it has enhanced their job satisfaction – providing tangible evidence that personal and performance benefits are closely linked.
The report states that to realise the full benefits, there needs to be a culture of mutual trust and commitment between employers and employees.
More Flexibility in the workplace with Borer's FUSION T&A System.
Borer's Time and Attendance system is designed to offer employees more flexibility in the workplace. With more and more emphasis being placed on work life balance, organisations must define procedures to support employees.
One way to do this is by implementing flexitime by providing staff with flexible working hours to accommodate those working part-time, family priorities, covering absences and job sharing.