Are Employees Considering A Pay Cut To Work Flexibility?
Technology and times are evolving and with it, the work culture should evolve as well. Back in the day where we did not have the pleasure of video call and constant access to the internet, there was a prominent communication barrier for people who were working from home. But now we live in a day and age where we are always connected to our team and work. With the development of IoT (Internet of things) and fairly large access to WiFi, communication has become more free-flowing. People are able to communicate with their team onsite from the comfort of their home and work in collaboration. IoT is growing in popularity and that is going to pave a stronger path for remote options for employees.
So now the question that arises is, how important is it to have the option to work remotely? Work-life balance as a concept is gaining momentum, as mental well-being has become a factor of significant importance to all your employees. This is essential to the progression of your company as well. A healthy mind, in turn, will provide maximum productivity, that benefits your company.
Employers should evaluate every employees’ case individually before dismissing the option of the remote plan. For example, those employees who are parents and have their hands full would appreciate having the remote option every once in a while. Something that would be helpful would be to sit down with your employees and develop a plan that would be in the best interest for both the company and the individual.
The survey conducted by Indeed showed that 47% of the employees surveyed, indicated that having the flexibility of working from home does, in fact, impact their choice while choosing their job. The survey also brought about insights that conveyed, employees are frustrated when they aren’t offered this flexibility, with 52% saying they would appreciate it more to have the chance to actually have an option. Further, a significant portion of employees (40%) who were surveyed, also indicated that they would take a pay cut to receiving the option to work from home.
Deloitte’s survey further details the modern work mentality within millennials in 2018. It shed light on an interesting fact that they were more likely to stick to their current job for over 5 years in the presence of work flexibility. The fact that the millennials and Generation Z are the future of the workforce, it would be a worthwhile consideration.
The benefits of remote work include a pool of positive points such as better work-life balance for all the employees, reduced stress, improved employee morale and reduced absences from work. These factors impact only your employees at first glance, but in the long run it is highly beneficial for the company’s progression.
When it comes to providing remote options to the employees, the employers do have their concerns, which mainly include productivity and performance of their employees. There are ways to tackle these rising concerns of employers so that both parties are satisfied.
- Having established clear channels of communication with scheduled times to receive updates, ensures streamlined delivery of the employees’ tasks. This ensures everyone is on the same page and are aware of what is expected of them and the timeline within which they would have to deliver it.
- Developing a supportive relationship with the remote workers to ensure they’re constantly feeling involved with the company. Disconnection and isolation is something that employees who work remotely experience. Through skype conversations and daily communication with their superiors and their team, these employees are able to develop a connection with the company.
There are ways to work around the concerns of both parties. It’s a matter of having a conversation to strike a deal that works well for both.