Promoting Flexible Working and Employee Well-being |Consensus HR in Herts & Beds
In the UK, Consensus HR plays a crucial role in guiding businesses through the complexities of flexible working and employee well-being, ensuring that companies not only meet legal requirements but also adopt best practices that are vital in today’s competitive landscape. As the British Chamber of Commerce’s (BCC) recent survey highlights, flexible working and employee well-being are increasingly seen as essential components of a successful business strategy and for businesses who want to stand out in a crowded job market.
Its survey of 1300 businesses noted that attracting and retaining talent is a key priority for most, but they are operating in a market where, e.g. from May to July 2024 there were 884,000 vacancies in the economy, while the number of economically inactive people (those not looking for work) stood at over 9.4 million.
The BCC research also shows 62% of businesses reporting that they are experiencing skills shortages, rising to 74% for manufacturing firms. Noting that 14% of businesses reported they were unable to hire or retain people specifically because of childcare responsibilities, the BCC suggests that introducing flexible working can help employees balance work with other commitments.
Benefits of Flexible Working:
1. Enhanced Productivity:
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- Consensus HR helps UK businesses implement flexible working arrangements that can lead to higher productivity. In the UK context, the ability to work during the most productive hours is crucial, particularly as the traditional 9-to-5 workday becomes less relevant.
- Research supported by Consensus HR in the UK indicates that 43% of employees report increased productivity when flexible working options are available.
2. Improved Work-Life Balance:
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- UK employers are increasingly focused on improving work-life balance, and Consensus HR is at the forefront of advising businesses on how to implement flexible working policies effectively.
- In the UK, 73% of employees report that flexible working helps them achieve a better work-life balance, a figure that Consensus HR frequently cites in their consultations.
3. Attraction and Retention of Top Talent:
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- In the UK’s competitive job market, Consensus HR advises companies on how flexible working can be a key differentiator in attracting and retaining skilled workers.
- According to UK-specific data, 81% of workers would prefer jobs that offer flexible working options, which is a critical insight for UK businesses looking to remain competitive in talent acquisition.
4. Cost Efficiency:
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- Consensus HR highlights the cost-saving potential of flexible working for UK companies, particularly in reducing the need for large office spaces in high-rent areas like London.
- UK businesses can save thousands per employee each year by implementing flexible working arrangements, with savings on office space and commuting costs being particularly significant.
5. Increased Employee Satisfaction:
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- Consensus HR underscores the importance of flexible working in boosting employee satisfaction within UK workplaces. Employees who have control over their work schedules are more likely to be satisfied and engaged.
- UK studies show a strong link between flexible working and higher employee engagement, a key factor in reducing turnover and enhancing overall business performance.
Benefits of Employee Well-being Initiatives:
1. Reduced Absenteeism:
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- In the UK, absenteeism due to stress and mental health issues is a significant concern. Consensus HR helps businesses implement well-being programs that address these issues, leading to a reduction in absenteeism.
- The UK government and NHS have highlighted the importance of workplace well-being, with studies showing that every £1 invested in mental health support can yield a £4 return in terms of reduced absenteeism and increased productivity.
2. Enhanced Performance:
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- Consensus HR assists UK businesses in developing well-being strategies that directly contribute to improved employee performance. By focusing on mental and physical health, UK companies can create a more productive workforce.
- Gallup’s research, relevant in the UK context, shows that employees who feel their well-being is supported are 21% more likely to be engaged at work, a statistic that Consensus HR uses to advocate for comprehensive well-being programs.
3. Better Workplace Culture:
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- Consensus HR promotes well-being initiatives as a means to enhance workplace culture across UK businesses. A positive culture not only attracts top talent but also fosters better teamwork and collaboration.
- In the UK, 58% of employees reported that well-being programs positively influenced their relationships at work, according to a study by the Chartered Institute of Personnel and Development (CIPD).
4. Retention and Attraction:
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- Consensus HR advises UK businesses on the importance of well-being programs in retaining and attracting employees. With the UK workforce increasingly valuing employers who prioritise health and well-being, these programs are becoming a key factor in employer branding.
- A survey by the UK-based insurer Bupa found that 74% of employees consider well-being programs a significant factor when choosing a job, underlining the importance of these initiatives in the UK.
5. Increased Innovation:
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- Consensus HR highlights the link between well-being and innovation, particularly relevant for UK businesses in sectors that rely on creativity and innovation.
- Research from the University of Warwick, often referenced by Consensus HR, found that happiness and well-being can increase productivity by 12%, showing a direct connection between well-being initiatives and business success in the UK.
UK-Specific Statistics Highlighted by Consensus HR:
- Flexible Working: According to UK-specific research by the Office for National Statistics (ONS), 30% of UK employees worked remotely in 2021, and the trend is expected to continue, driven by the demand for flexible working options.
- Employee Well-being: The UK workplace wellness market was valued at over £2.7 billion in 2020, reflecting the increasing importance of employee well-being in UK businesses, a figure often cited by Consensus HR.
Our HR comment: Promoting Flexible Working and Employee Well-being |Consensus HR in Herts & Beds
Our HR comment / Advice: –
Matthew Chilcott, Owner of Consensus HR comments: “Our continual involvement with our clients in promoting flexible working and employee well-being highlights their essential role in shaping modern workplace strategies. We help our clients and their businesses realise the substantial benefits of these approaches, from increased productivity and employee satisfaction to cost savings and innovation. Our expertise ensures companies are not only adhering with Employment Law but also positioned for success in a competitive market.”
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