Flexibility: 2023 Benefit Strategies

With the growth of quiet quitting and decreased workforce engagement, it is much more important for employers to listen to and collaborate with their employees. The best flexible work policy is one that is employee focused, is mindful of generational differences, and sets clear expectations around boundaries and work/life balance.

Since the demand for flexible working isn’t going away, companies will need to establish the level of workplace flexibility that aligns company goals with employee needs and desires to create the best possible environment to cultivate performance. Allowing employees to be flexible around factors such as hours and location will maximize your ability to attract and retain the talent you need to support business growth, as well as demonstrate prioritization of sustainability, inclusion, and overall employee wellbeing.

94%

94% of employees want flexibility in when they work (Slack).

80%

80% of employees want the flexibility to determine where they work (Slack).

Flexible Scheduling. Employees are increasingly expecting to be in control of when they work and set their own schedules so they can tend to family obligations, etc. Allow employees to request a schedule that works best for them, but within the parameters of an established structure. If non-traditional business hours won’t work for your company, be sure you are letting employees know when they’re expected to work (scheduling transparency) to give them more advance notice so that they can plan accordingly. You may also designate specific times during the week for employees to attend to personal matters.

  • Four-Day Workweek. This best-of-both-worlds approach has proven to reduce absenteeism, fatigue, and burnout while boosting productivity and sales, as well as employee wellbeing, performance, and morale. A four-day workweek blends in-office structure with better work/life balance and can save employees time each week on commuting.

Remote Work. Giving employees the option to work offsite can eliminate facility costs (potentially saving thousands of dollars per employee annually) and expand the pool of available talent to include candidates in other locations. A work-from-anywhere model provides employees with the flexibility to determine where they work. For hybrid work, establish options with clear policies that set boundaries around who, when, and how often employees can work remotely.

  • Virtual Workspace. For companies who embrace hybrid and remote working, the workplace is no longer a physical location, but a virtual space where employees can connect online and share a sense of belonging. Employers can use this shift to build employee wellbeing by choosing to re-configure office layouts to ensure that there are informal spaces where employees can catch up and chill out, as well as quiet areas for reflection and concentration.
  • Regulatory Requirements. Companies with employees who work remotely in various locations will need to stay up to date on varying regulations and evolving leave laws at the federal, state, and city levels. Employers must consistently research compliance resources and should consult with experts for guidance on local employment and taxation laws.

Employee Classifications. Offering work on a contract or part-time basis can cast a wider net for qualified employees for employers to reimagine the talent pool. When employers think beyond the standard full-time employee classification, they can attract job candidates who are proactively seeking gig work or part-time positions.    

Flexible Benefits. Employers will need to shift away from the one-size-fits-all benefits approach to better serve their diverse, distributed workforce. Employers should work to create benefit packages that have the flexibility to serve people with varied needs and priorities. Contemporary benefits include elder care, tuition reimbursement, pet care, and family planning (maternity/paternity leave, fertility benefits, egg freezing, and IVF).

Work-Life Balance. Establishing an ideal work-life balance for your employees will help combat burnout. Overall wellbeing and mental health impact employee tenacity and creativity. Provide paid vacation and paid leave (consider leave for caregivers and bereavement leave) because outside of vacation, workers are expected to take time for themselves and their loved ones.

Workforce Data. After implementing a flexible work model, be sure to track workforce data to understand what’s working and what’s not. Measure how well employees are meeting their individual and team goals and impacting overall business goals. Track their achievement and productivity over time to discover and/or validate whether the flexible arrangements you’re offering are effective. Check the quality of work your employees provide and their performance. Is their work more (or equally as) innovative and impactful? Adjust policies and schedules as needed.

SOURCES: BenefitsPRO; Employee Benefit News; Zywave

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