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This entry was posted on Tuesday, July 1st, 2008 at 8:45 am and is filed under Uncategorized. You can leave a response, or trackback from your own site.
The rigid 40 hour work week, originally set forth by the 1938 Fair Labor Standards Act, was designed to protect employees…Yet it is now hurting both employees and employers. Primary caregivers, of children or elderly family, often are unable to work the required 40 hours during the 8-5 slot allowed each week. If unable to work full-time (according to these standards), one is often required to purchase his/her own benefits with after-tax dollars. If attempting a full-time schedule, productivity and personal satisfaction (both at work and at home) go out the window along w/ their sanity as they attempt to balance work and family responsibilities.
But not only do we need these changes to take place, they have proven profitable for the businesses that have undertaken them on their own!
A recent study by the Families and Work Institute (see http://www.familiesandwork.org/site/sloanbizresults.html) shows that giving employees more flexibility in their workplace increases employee satisfaction, translating into high retention, lower turn over, higher levels of engagement while at the office, and even fewer days skipping out of the office! Moreover, it boosts productivity, reduces business costs, and even increases profits. Want the numbers?
According to the study, the Houston accounting firm PFK Texas gives employees choice in work hours, workspace, and even future work plans. The result? Their turnover has decreased to a startling low 12%! The firm has doubled in the meantime and experienced a revenue growth of 8% per year since making the changes.
The Washington D.C. office of Capital One takes advantage of home offices, wireless laptops, Blackberrys…etc. Their employees often choose flexible arrangements that work for their own personal situation. The company spends less money on office costs while simultaneously getting more productivity out of their employees!
The bottom line simply is this: giving employees flexibility in the workplace means better results for all involved.
Why can't we? You tell me…