Employee Benefits Consulting: Avail Advantages of Flextime
As long as the unemployment rate stays low, one of your difficulties as an employer will be attracting and retaining employees.
One key to improving employee loyalty is a great package of benefits. Our services make it possible for you to offer your employees Fortune 500-level benefits, even if you are a small business. Your employees’ need for flexibility in scheduling has given rise to another popular workplace benefit: Flextime Benefit.
“Time now is as scarce as money and employees are much more likely to stay with an employer who gives them a say in setting their work schedule,” says Kathie Lingle, a Work/Life specialist. An astounding 55% of companies surveyed by the Society for Human Resources Management say they offer flexible work scheduling.
There are several different types of flextime. For some companies, flextime allows workers to choose their own starting and quitting hours. Some companies offer a four-day (10 hours/day) workweek. Still other businesses simply allow workers to borrow hours and carry them from one workday to the next.
For Flextime to work, you need to set down some ground rules in advance. Management needs to be non-controlling, and willing to trust workers not to abuse the system. If you choose to offer flextime, make sure employees understand that core business functions always need to be covered, and management reserves the right to make necessary adjustments.
“Flextime is the number-one driver of employee retention.”
-Kathie Lingle, National Director of Work/Life at KPMG LLP.
|Ability to compete for top workers||Challenging to manage—supervisors can’t always see when work is being done.|
|Improved recruiting abilities||Bosses or supervisors not always on hand to answer questions or handle problems|
|Reduced absenteeism and tardiness||Difficult to schedule in-house meetings|
|Improved morale||May give rise to demands for even more flexibility – like telecommuting|
|Gives employees more time with families, may save child and eldercare expenses||Workers may use extra time for a second job which results in increased fatigue and safety risks|
|More continuity in shiftwork—nurses, policework, etc.||Covering for sick leave, vacations presents challenges.|
AmCheck offers nationwide Employee Benefit Services & Flextime solutions. Get a quote.