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How Can Companies Save Money By Giving Work Flexibility

When I tried to convince my boss to give me the perk to working from home, he resisted my argument and said that employees misuse this policy. This can be true but not in the majority of cases.

According to research, 60% of the employees leave the organizations when they feel that the organization is restricting their growth and not giving them work flexibility.

The work flexibility can be the work from home policy, time management or cutting the commute expenses to work.

When you give these perks to employees, they become more loyal and put more value on the work.

They start to take care of the company’s work and also their progress.

Some evidence has also shown that flexibility of work not only saves time and cost but also the dedication to the work.

So, if you’re looking to convince your boss for the work flexibility, here are some examples through which you can convey him. Let’s start knowing these:

  1. It Increases Work Productivity

The idea of working from your home without the efforts of waking and dressing up is so convenient that only thinking of it can improve your productivity. According to Global Workplace Analytics, their workers show 25% more productivity when they were asked to work from home.

They show up on time, record their tasks and send it on time to their bosses. The mistakes ratio was also found to be improved in the experiment.

  1. It Eases the Recruitment and Retaining Process

The recruitment process is an expensive process that takes not only your time but also the candidate’s cost of travel and time. It also includes the cost of advertising and the interviewing process. Things can become more challenging when you need to retain an employee because when you have invested on the employee’s wellness and training, you can’t afford to lose them.

By offering your workforce the flexibility, you add to their happiness and happier employees are more productive and give great results. If some of your employees live in a condo in Toronto, they will have the flexibility to work from there.

So, by cutting the recruitment cost, and replacing it with the video-interviews, you save the cost and increase the chances of retaining your employees.

  1. Save on Real Estate Operations

When you start a venture, your dream is to have an office building one day so you can well-manage your operations. But know that, to make your office successful, you don’t need the office but the quality of the work.

If you have an ideal workspace and you have given the flexibility to your employees, there are many tech tools through which you can manage them.

In addition, when you don’t have the office building, you save the electricity cost, maintenance cost and also the food and tea cost.

By saving on the office operations, you can invest in the work and software that are more important for you. If you’re a product-based company then the money saved will be a great deal for you.

By dropping the option of a fancy building, you can opt for a small space which can be ideal for business meetings. That’s not only flexible but also cost-efficient for your business.

  1. Reduce the Number of Absenteeism

If you see your employees are coming up with a lot of excuses to miss the work then it’s a sign that your workplace isn’t productive and giving them the chance to focus on their health.

When you give them the work flexibility, you won’t only reduce the absenteeism but also make them loyal to your company by adding the perks. Work flexibility is the benefit through which you can retain your employees for the long term because when they’ll stay in their homes, they can manage their work and personal life well. If they live in loft rentals in Toronto, they will have enough space to dedicate to the work.

  1. Diversification

When you open your vacancies to a wide number of people from every region, you have diversification of ideas in your office. Different mindsets are wired to think differently. With a huge pool of ideas, you will have a diversified skill set of people.

By having diversification, you can open your operations from anywhere you want. This work flexibility gives your workplace to spread globally. And that’s important because every company wants its name to be everywhere.

So, the greater the flexibility, the better will be the working opportunities and room to grow your business.

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