How flexible work conditions benefit your company
What we mean by ‘flexible work conditions’
Flexible work conditions extend beyond remote and hybrid work models. They include flexible working hours, shorter work weeks, flexible leave policies, various work locations, shift swapping, and more.
Your company doesn't need to offer everything, but providing some flexibility can lead to increased productivity, better mental well-being, higher motivation, and improved employee retention.
Benefits of remote work
Remote work offers several key advantages for business owners and employees alike. According to a Statista report from 2022, 22% of respondents identified a flexible schedule as the biggest benefit of working remotely. This flexibility allows employees to balance their work and personal lives more effectively, leading to increased job satisfaction and productivity.
Additionally, remote work provides the freedom to choose where to live, followed by the flexibility to choose work locations and the significant time savings from not having to commute daily. These advantages can lead to higher employee morale and reduced operational costs for businesses.
Let's dive deeper into these benefits with more data and insights!
Motivated employees and increased engagement
Business owners want employees to be motivated and engaged, treating the workplace as if it's their own company. Unfortunately, even (or perhaps especially) the most self-driven employees can burn out. To keep them motivated and engaged, employers must provide support and flexibility. Business is not just a transaction between a company and its clients but also between the employer and the employee.
Job satisfaction and reduced employee turnover
Hiring and training new employees is costly. It's even harder to find candidates for certain positions due to a competitive job market. Once you find the right people, don't lose them because they want to work from home occasionally. Show trust by allowing flexible work hours and locations, and you'll be rewarded with loyalty and productivity. We've experienced this firsthand at Paysera.
Increased productivity
Speaking of employee productivity…
When employees control their work conditions, they can give their best. This isn't just theory – it's backed by data. A Capgemini report found that 68% of organisations worldwide saw increased productivity in IT and digital functions during the third quarter of 2020 due to remote working.
To add to this, employees themselves confirm this. In 2022, 44% of remote workers reported working more compared to the previous year.
Reduced facility costs
Office spaces, equipment, and utilities all add up. While we don't suggest closing your office entirely, you can reduce expenses through remote or hybrid work models.
Attracting skilled employees
Flexible work conditions open the world to your company. You can attract top talent from anywhere, and skilled employees will come to you if you offer them what others can’t – trust and flexibility.
Let’s address the challenges
Some believe that flexibility makes management difficult. However, with the right tools for tasks, time management, meetings, and collaboration, managing remote or hybrid teams can be seamless. There are many software solutions available to make work management easier for both remote and office work – all you need to do is invest a bit of your time to select the right ones for your business!
Our success story
At Paysera, we have over 500 employees working from 25 countries around the world. The benefits of trust and flexibility have greatly contributed to our growth. And if we can do it, so can your company!
