SMEs warming to flexible working
An increasing number of small and medium businesses are adopting flexible working practices, and they’re seeing rises in productivity and revenue as a result.
According to a Regus study, there’s a connection between flexible working and improved productivity and revenue generation. The study showed 79 percent of Australian SMEs are reporting higher levels of productivity thanks to flexible working practices and 69 percent have recorded increased revenue and improved performance as a result of flexible work, compared with 61 percent of larger companies.
“Our results clearly demonstrate the positive benefits of flexible working on businesses and their employees, with 64 percent of firms saying their staff feel more energised and motivated,” Regus regional vice president William Willems said.
The study examined the impact of working habits on employee wellbeing and company performance. Among Australian businesses the findings included;
- 78 percent of businesses of all sizes work more flexibly now, in terms of time and location;
- The majority of Australian firms believe flexible working has a positive impact on employee health and morale, with 59 percent saying employees feel healthier and 64 percent feeling more energised and motivated
- Although small and large businesses in Australia agree they generate more revenue via flexible working, SMEs are more convinced productivity is a direct result of flexible working (79 percent) than large business (63 percent)
It was also noted flexible working practices act as a valuable employee attraction and retention tool which aides in minimising staff turnover and assists in finding new talent.
“As workforce expectations and demands continue to evolve, flexible work is becoming an attractive option for workers looking to achieve a better balance between work life and life. With the rapid developments in technology and network improvements helping to drive this demand, flexible working is now emerging as the norm rather than the exception,” Willems added.