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Answer : Thanks to the changing employment situation, today, the average workforce of an organization is far different to that of a few years ago. More and more companies are going for different kinds of employee engagements like temporary staff, consultants, freelancers, contractors, sub-contractors and so on. This brings with it its own particular sets of advantages and disadvantages for organizations. Managing the flexible workforce of a company needs a different set of policies and strategies.

Some of the key reasons or trends for the emergence of flexible workforce below:

1. Retention of women employees:

Over 60 % of women opt out of full-time work within 6-8 years of employment, but 93% of these women want to return to work part-time. Companies that tap into this talent pool by accommodating their request for flexibility in working hours will create a competitive advantage in the labor market.

2. Retirement of baby boomers:

Companies in certain sectors will face a significant skilled labor shortage with a huge number of experienced people eligible for retirement in the next ten years. Many of these baby boomer (people born between 1945 and 1965) employees, however, would prefer working in a flexible capacity rather than going for retirement. Many companies would prefer to retain them on flexi-hours engagement, as they prove to be highly beneficial, especially in the absence of a proper knowledge management system.

3. The Retention of the voluntary workforce: In certain high-tech sectors, many highly skilled employees no longer have to work as they would have earned and saved enough for a life time and are leaving because they are unhappy with a lack of work- life balance. Companies are ready to accommodate their need for flexibility in working hours rather than losing out on highly skilled workforce.

 

4. Challenges of global teams: Today, due to globalization, more and more people are required to work continuously in order to communicate and collaborate with colleagues around the world. Due to this, people are experiencing a feeling of burnout and employers have no option but think beyond 9 to 5 and implement flexible schedules to accommodate these challenging logistics.

Some of the different types of work arrangements that accommodate a flexible work force below:

Job sharing: Here, the full time job is split between two co-workers and benefits are given in proportion based on the number of hours put in by each employee.

Daily flexible choice: In this the log-in and log-out time may vary daily.

Open flexible choice: In this the employees can choose the total number of hours required to complete the specific task.

Compressed week choice: Here, employees have a choice to work for less than five days in a week.

Comp-off: In this, the employees can extend their timings on busy days and use that later for compensatory time off.

 

Types of locations:

Satellite options: These are remote work centers like satellite work centers which are provided by the employers.

Telecommuting: Employees work from home for a few days in a week via telecommunications and then work out of office on the remaining days.

Tele working: Employees work from home on all the days of the week via telecommunications.

 

This flexi-time arrangement has a lot of benefits for both the employers and the employees.

 

The benefits for the employees are:

• Provides an opportunity for workers who are disabled.

 

• Working parents can meet their family obligations.

 

• Saves commuting time.

 

• Provides time and location flexibility.

 

• Reduces job related stress and also interruptions at the workplace.

 

• The benefits for the employers are: Influences employees in a positive way. Improves productivity.
• Reduces absenteeism.
• Improves employee job satisfaction, job performance and work quality.
  • • Reduces costs related to environmental requirements, time, space, employee safety, relocation of the employees, and productivity.

     

    • Helps in retention of voluntary workforce, women and baby boomers. Companies can terminate contingent workers services more easily.

     

    With respect to compensation and benefits paid to the flexible workforce, most companies pay an hourly wage, which is fixed on the basis of the complexity of work as well as the skill sets of the employee. No amount of paid leave, insurance and legally required benefits like gratuity and retirement benefits are paid.

     

     

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