Employers are reconsidering flexible working arrangements, indicating a shift from previous trends.
- A recent study shows that two-fifths of companies may reduce flexible working options in 2024.
- Despite the demand for flexibility, some businesses plan to cut back on remote and flexible hours.
- A significant portion of employers still value flexibility to meet employee expectations.
- The balancing act between productivity needs and employee satisfaction poses new challenges.
Employers across the UK are at a crucial juncture regarding flexible working arrangements. New findings from independent consultancy Barnett Waddingham reveal that nearly two-fifths of companies are planning to curtail flexibility in 2024. This change could potentially impact as many as 588,000 businesses with the reduction of flexible working options.
The study’s insights suggest a divergence from the increasing trend of flexibility that saw approximately 4 million people transition to new career paths. Interestingly, 17% of businesses plan to decrease flexibility concerning work locations, while 15% intend to lessen flexible working hours.
A report by CIPD underscores the current widespread adoption of flexible arrangements, with 60% of employees enjoying some element of flexibility in their roles. This new data from Barnett Waddingham suggests a strategic shift by companies, which some view as a ‘New Front’ in the competitive talent landscape—striking a balance between flexibility valued by employees and the traditional benefits of office settings embraced by employers.
Contradictions arise, given that despite the intent to reduce flexibility, many companies acknowledge its significance. Approximately 31% of businesses introduced more flexibility over the past year, partly due to concerns that employees might leave if such options were not available.
Julia Turney, Partner at Barnett Waddingham, emphasizes the complexity of the situation: “The findings from this research shed light on the complex situation employers are facing with flexible working.” The sentiment reveals an ongoing tension as businesses strive to enhance productivity, creativity, and company culture, while accommodating the evolving expectations of the modern workforce.
Turney further advises that moving forward, companies should adopt a data-driven approach, facilitating open dialogues with their workforce to correctly position their flexibility offerings on the spectrum. “Only by opening conversations with their workforce, and regularly collecting data will they be able to understand where on the sliding scale of working flexibility they need to sit,” she states.
Companies must navigate the flexible working landscape thoughtfully to balance productivity with employee expectations.
