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To retain valued employees in particular and stem employee attrition
overall, more corporations are willing to enact flexible work arrangements
(FWAs). Here we will review FWA management issues--key concerns and
solutions, and related policies such as reward, recognition, performance
reviews and benefits.
Executives on all rungs of the corporate ladder are crying out in unison
"I want a life and I won't take it anymore!" Whether caring for
an elderly parent or precocious child or penning the great American novel,
executives are reevaluating their work/life styles and leaving their
companies in record numbers to pursue their own interests and/or family
values.
The constant stress imposed by downsizing and rightsizing have left many
employees disenfranchised. As a result, they are seeking greater
satisfaction in their work and in their lives.
To stem the tide of employee attrition, more corporations are willing to
enact flexible work arrangements (FWAs) to retain valued employees. In
fact, leading-edge organizations have come to realize that
institutionalizing FWAs is a win-win strategy.
Flexibility Attracts Today's Best
Businesses today are in the throes of massive change that demand higher
performance and improved productivity from each manager and employee.
But how to attract and retain employees for whom quality of life is
increasingly the number-one priority? How do organizations tap the
potential in a workforce that says it is already overworked and stressed
to the max?
Flexible work arrangements are solutions that are growing in scope and
variety to include telecommuting or flex-place; part-time--both job-sharing
and phased retirement; flextime--adjusting starting and stopping times;
and compressed work schedules--4/10 and 9/80 workweeks.
The Joys of Being Flexible
Implementing FWAs have had positive results. While new employees recognize
that they will have to work harder, flexibility allows them to work
smarter. Employees are willing to work this way in exchange for control
over their time. Translation: Flexibility attracts the best employees from
a more diverse pool of candidates. More seasoned employees also value
being able to manage their time on their own terms. The results? Flextime
reduces turnover.
In an environment that engenders trust and respect, employees are more
likely to contribute extra energy and effort to their jobs and to their
customers. Corporations have come to recognize that flexibility also
improves productivity, with employees less likely to be burned out and
therefore, more likely to accomplish more. After implementing flexible
scheduling, Xerox reported a 10 % productivity rise, and Johnson &
Johnson experienced a 50 % decline in absenteeism among employees who used
flexible work options and family leave policies.
Some other potential benefits of FWAs include:
 | Flextime helps reduce
tardiness and absenteeism, can be implemented at a low cost, and can
maximize use of equipment, and has no effect on salary or benefits. |
| Flexspace addresses
the needs of many employees, including those with disabilities, saves
office space and utilities, and has no impact on salary or benefits. |
| Part-time
arrangements enable work and scheduling based on business unit needs
to adjust for business cycles, with salary, benefits, vacation and
holiday implications. |
Designing a Brave New Flexible World
The implementation of FWAs requires a culture change and a redefinition of
work and productivity. The changing values and priorities of today's
workforce are forcing Corporate America to rethink its concept of time,
place, productivity and rewards and trust that flextime workers will get
the job done.
Management must identify key concerns, devise solutions, and take
ownership of results but will need to consider related policies such as
rewards, recognition, performance reviews and benefits.
Today's current work/life initiatives are the first steps on a long path
toward a new world of work.
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