One of the biggest trends for companies has been the idea of a work-life balance. Employees are constantly seeking out jobs where they can lead a balanced life between the office spending time at home with their families, and tending to personal errands. One of the key ways a small business can provide a work-life balance to its employees is through flexible work schedules. A flexible work schedule for employees not only aids in staff retention, but also helps a small business become more sustainable, and here’s why.
1. Providing Employees with a Flexible Work Schedule Creates a Lower Overhead
- Allowing employees to work from home even one or two days per week, can help small business owners cut down on their costs.
- This includes office supplies, administrative costs, utilities, and even rent. If fewer employees are in the office at one time, small business owners can rent a smaller office space, and thus lower their overhead.
- When employees have the option to work from home part-time, they can reduce the amount of time spent commuting to work and spend less on fuel.
2. When Employees have a Flexible Work Schedule, They are Less Likely to Take Paid Time Off
- Oftentimes, employees use their paid time off to escape from their grueling 9-5 work schedule.
- By providing employees with a flexible work schedule, they will feel less stressed and be able to better attend to the needs of their families, account for emergencies, and avoid rush-hour traffic.
- Employees who have flexibility in their schedule are also less likely to call in sick or show up late for work.
3. When Small Businesses Offer Flexible Schedules, They Can Grow Their Business Faster and Smarter
- If there are positions within a small business that can be filled by telecommuters, an owner can grow their staff quickly, without needing additional office space or resources.
- Having off-site employees can result in a great reach, and ultimately result in a wider customer base. Owners can even hire employees in different geographic regions, which can result in new sales opportunities.
- Hiring independent contract workers can also reduce costs when it comes to payroll since they are responsible for paying their social security tax.
4. Flexible Employee Schedules Increase Staff Productivity
- One of the keys to running a successful small business is recruiting and retaining employees who value their work and genuinely care about the goals of the company.
- Flexible work schedules are a benefit that employees highly value, and when employees feel valued, they are more likely to work harder and produce better-quality results.
- Employees who are inspired to work harder will gladly seek out new ways that they can help out, and offer to assist co-workers when they are overloaded with tasks. With a variety of employee schedules, a small business can also remain open longer and serve a great number of customers during a given day.
5. Offering Flexible Work Schedules Allows for Higher Retention Rates
- By making flexible work schedules an option for employees, a small business owner is more likely to hire and retain employees who are willing to work hard for their company.
- Flexible work schedules open up an owner’s talent pool by providing opportunities to single parents, stay-at-home parents, military spouses, or retired persons in need of income and flexible hours.
- Since employees are more satisfied with their work-life balance due to flexible scheduling, a small business is more likely to retain these employees and reduce the cost of posting job ads, conducting interviews, and onboarding new employees.
The key to retaining top talent in your small business is providing employees with a solid work-life balance. One of the easiest ways to do this is through offering flexible work schedules to your staff.
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