Do You Understand the Benefits Of Flexible Working Time?
Flexible working time in the UK is growing. This blog will cover the top three advantages and disadvantages to help your business decide what to do.
According to new research by the Trade Union Centre (TUC), 1.52 million workers in the UK class themselves as working primarily from home, and this figure is up 240,000 on 2005 figures. Many businesses may simply not be able to implement a flexible working solution, whilst many may not have even considered it. The following are some of the more common arguments for and against flexible working to help you decide what’s best for your business.
The Top Three Advantages of Flexible Working
1. Improved productivity
Without having to commute to work, employees are able to start work earlier and are able to continue checking and answering emails and phone calls into the evening. TUC found that 83% of businesses agreed that flexible working had resulted in improved efficiencies.
2. Employee empowerment
Flexible working shows that you have a great deal of trust in your workforce, which in turn is rewarded with higher levels of productivity and job satisfaction.
3. Financial benefits
Your workforce will be spending a considerable amount of money on their daily commute. Flexi-time reduces this by minimising the amount of days per week that they must work from the office.
The top Three Disadvantages of Flexible Working
1. Initial costs
Whilst the amount differs depending on a wide range of factors, i.e. business size, revenue, IT systems in place etc., many businesses view the initial cost of setting-up a flexi-time system to be too expensive.
2. Data collection
With employees working from anywhere at any time, there is often difficulty maintaining an accurate collection of working hours.
3. Culture change
Management is commonly against flexible working due to the potential changes in working culture it can bring. Employees working outside of the office have reported a reduction in the ‘company culture’, however how this can be accurately calculated can be difficult.
Flexible Working Hours Need Flexible Payroll Software
A flexible workforce requires flexible payroll software, and IRIS has the perfect solution for businesses requiring powerful, easy-to-use and intuitive software. IRIS Payroll Business is ideal for businesses with up to 250 employees and helps you keep on top of legislation such as automatic enrolment and the pension reforms. HMRC-recognised and RTI-compliant, IRIS Payroll Business is the comprehensive solution for your business.
Book a free, no-obligation software demonstration of IRIS Payroll Business with an expert in payroll here at IRIS using the blue buttons at the top and bottom of this blog.