Almost two-fifths of companies are gearing up to reduce flexibility for their employees next year, according to a study from independent consultancy Barnett Waddingham.
This could see as many as 588,000 businesses planning to offer reduced flexibility to working arrangements, with one in seven offering less flexibility to the places they work (i.e. home vs. the office). Moreover, 15% say they plan to offer less flexibility to working hours.
As CIPD’s recent flexible and hybrid working report also finds that three-fifths of employees currently have flexible working arrangements in their role, Barnett Waddingham’s findings suggest the emergence of a ‘New Front’ in the war for talent; a balancing act between employees who increasingly value flexible working, and employers who, in some cases, seem to be backtracking on these arrangements.
However, despite many businesses planning to offer less flexibility, a substantial number still recognise the importance of flexible working in meeting employee expectations. Approximately 31% of respondents stated that they had introduced more flexibility to their staff in the past year, with a third doing so because they were concerned people would leave if they didn’t.
Julia Turney, Partner at Barnett Waddingham, says: “The findings from this research shed light on the complex situation employers are facing with flexible working. From speaking with business leaders, it’s clear that employers are keen to realise certain benefits of office working; whether that’s improving productivity, creativity and culture or simply to justify spending on training.”
“For most employees however, flexibility is no longer seen as a ‘perk’, but a fundamental consideration for their career. And whilst it’s natural for businesses to seek ways to optimise productivity, it’s equally vital to acknowledge that the workforce’s expectation have shifted significantly, and any changes could impact morale or even see resignations.
“Looking ahead, employers must engage in thoughtful and informed decision-making on this topic, backed up by hard analysis. Only by opening conversations with their workforce, and regularly collecting data will they be able understand where on the sliding-scale of working flexibility they need to sit.”
