Understanding Flextime and Its Business Benefits

What is Flextime, and How is it Beneficial for a Business?

With the recent rise of remote work options, the implementation of flexible work schedules for employees is also increasing. However, flexible work arrangements are not entirely new notions for some employers. Some employers offer a certain level of work flexibility to help implement a healthier work-life balance for employees. And for employees, the concept of flextime has been highly prioritized in recent years when pursuing employment and deciding on a work role. 

Flextime is a benefit that businesses can offer to their employees, whereby employees are given the freedom to choose their working schedules, in whole or in part. There are several ways that companies apply flextime workplace strategies, with the most prevalent option being the choice to work from home. Remote work can be accomplished in a strictly work-from-home setting or using a hybrid model, whereby employees are still required to report to the office on a certain day or spend a designated amount of time in the office during the week. 

Another common flexible workplace strategy is to assign employees a certain number of hours that must be worked per day and give employees the liberty to choose how and when they will work those hours. Performance-based flexible workplace strategies are also growing in popularity. As long as tasks are completed, and productivity remains high, the employer trusts that its team members are working optimally and work hours are not strictly clocked or counted. 

There is no singular best way to implement flextime, and for some businesses, a flextime setup might be entirely impossible to implement due to operational requirements. But, with proper data and analysis, employers can evaluate which flextime options work well for the company to achieve great productivity. Regardless of how flextime is implemented in the workplace, it often promotes a significant boost in employees’ morale and gives businesses the chance to increase their talent pool and remain competitive in the war for talent.

How Part-time Employment Differs From Flexible Work

There are some misconceptions about comparing part-time work and flextime options as similar workplace strategies. While part-time work and flexible workplace strategies share similarities, there are marked differences.

Part-time work requires employees to work fewer hours than what is usually required for full-time work. The Fair Labor Standards Act (FLSA) does not define full-time or part-time employment, and the U.S. Department of Labor considers the designation of part-time work to be determined by the employer. Typically, full-time work entails a minimum of 8 hours worked per day or 40 hours worked per week. Whereas for part-time work, fewer than 37.5 hours of work per week are performed. 

Further, part-time employees might not be eligible for company benefits and perks. Part-time employees might also be employed on a temporary or seasonal basis. In some cases, part-time workers have fixed schedules, which is contrary to the notion of flextime. 

Reasons to Offer Flexible Work to Your Employees

The COVID-19 pandemic has changed the ways many employees and employers have approached work – particularly with remote work strategies and flextime options. While some employers have embraced new ways of working during the pandemic, other employers remain reluctant or unconvinced that these strategies can be beneficial for their employees and the company’s bottom line. There is not a one-size-fits-all answer to this concern. However, conducting research, surveys, and employee interviews to determine if flexible work strategies would benefit your business is a critical step for obtaining actionable data. 

Offering flextime options brings known benefits to employers. Some significant benefits of flexible work for employers include:

Broadening Talent Pool and Increasing Employee Retention

Job seekers are generally more inclined to accept jobs that offer flexibility. Companies offering flexible workplace strategies often succeed in attracting better-qualified employee talent. When remote work is offered in the job description, it widens the job candidate talent pool because geographical boundary is no longer an issue. Flexibility not only attracts a large number of potential employees but also increases the candidate pool value because identifying candidates who strongly fit the job role becomes more possible. Of course, high employee retention rates become a valuable by-product of flexible workplace strategies, because employees who are happy with the flexibility they are given tend to stay longer with the company while delivering quality results. 

Increasing Employee Work Productivity

Employers sometimes doubt their employees’ ability to work productively in a flextime arrangement. However, the recent shifts from office to remote work, which inevitably lead to flexible work schedules, have shown that employees are still able to remain productive in a work-from-home setting. By being able to choose the time of day they are most ready to work – physically and mentally – employees increase their productivity and overall work happiness. The remote work setup requires effective communication and workflow alignment with coworkers, but once workflows are organized between teammates, employers can expect their happy employees to provide the best output for the business.

Employees also receive advantages from flexible working arrangements. Aside from achieving work-life balance and improved overall well-being, benefits for employees include:

Proving to be Adaptable to Challenges 

An employee’s ability to adapt to challenges is an important factor in their professional growth. During the pandemic, many employees were unexpectedly required to work remotely and manage shifts in schedules due to geographical differences among team members. Some employees struggled with managing their performance during the sudden introduction of remote work requirements. However, employees who are experienced with flexible work had the advantage of being adaptable to these sudden changes and more easily led their teams in implementing remote work styles and workflows that resulted in greater productivity and business continuity. 

Pursuing Professional Development

By following their own work schedules, employees have the chance to engage in learning and training opportunities that bolster their professional development. With greater freedom in their work schedule, employees can find the time to not only spend with family and friends but also the time to continually hone their craft. Employees may choose to undertake professional coursework, explore new skill sets to learn, or pursue a certification or college degree. 

How to Transition to Offering Flexible Work from Home Jobs for your Business

To support flextime workers, it is important to plan and tailor policies and procedures that best work for the business. It is also essential to train the leaders of the company to understand flexible workplace strategies and help them acquire the right mindset to lead the company towards the right direction. 

If you are ready to take the next steps towards workplace flexibility, fill out the form below and let us help you navigate this change.