At one point in time, companies would have paid the moving costs for a new team member, but flexible working has become an attractive alternative.
Furthermore, growing employee demand has led companies to adopt more flexibility due to its numerous economic, health and employee experience benefits.
A study from the Centre for Economics and Business Research (CEBR) found that over 90% of employees aged 16-55 would like the ability to work from anywhere.
Additionally, the research found that 72% of employees would save money by being able to work from wherever and 74% believe it would improve their work-life balance. Both of these factors help create a better employee experience.
The U.S. could potentially see $2.36 trillion in economic gains from flexible working, which comes from reintroducing part time workers or those who are economically inactive back into the workforce.
Overall, in order for organizations to stay competitive and successful in this economy, they must adapt to the needs of today’s workforce by including more flexibility, modern technology and being more inclusive to workers who have been inactive or need flexible options.