Authored article by Pranay Prakash, CHRO, BluWheelz
The modern workforce is evolving, and so are their preferences. As their priorities are shifting, the traditional drivers of recruitment, engagement, and retention are also undergoing a paradigm shift. The pandemic has triggered a slew of changes in the talent market. Besides that, factors like the changing composition of the workforce, rapid technological advancements, rising costs, gig economy, competitive salaries and benefits, and a desire to balance personal and professional commitments are shaping the world of business today.
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Employees today value work-life balance, mental well-being, professional growth, competitive salaries, and, most importantly, flexibility. As the younger generations enter the marketplace, they are strongly championing their preferences, which align with their personal goals and aspirations. For them, work is not life; it is only a facet of their lives.
Flexibility emerges at the forefront of employees’ priorities and is thus a key driver of employee satisfaction and workforce happiness. Jobseekers are looking for an enriching and meaningful work experience where they are not restricted to rigid working hours and fixed locations. According to Michael Page’s “India’s Talent Trends 2024 report,” flexibility has become a critical factor in workplaces across India.
When it comes to flexibility in terms of location, remote working and hybrid models are gaining ground. Such work arrangements help employees manage both work and life, take breaks whenever necessary, and save time that is lost in commuting to the office. Working from home offers greater autonomy and boosts productivity by allowing employees to choose their most comfortable setting as their workplace.
Overall, it enhances employee satisfaction by letting them control how they want to invest their time, especially around the peak hours of their productivity, without compromising the quality of work. About 76% of people in the Asia-Pacific region consider hybrid working a crucial aspect of flexibility, and 75% of Indians surveyed agree with the same, as per a 2023 report.
Providing flexibility in terms of working hours has become pivotal to cater to the changing needs of the multigenerational workforce. This contributes to a positive work environment where burnout is at bay and individuals feel empowered and engaged as they seamlessly integrate personal life and professional work. Also, flexible hours accommodate diverse lifestyles, making the workplace more inclusive and the workforce more committed.
However, there is a huge expectation and understanding gap when it comes to wanting and providing flexible work arrangements that needs to be bridged. Michael Page’s 2024 report reveals a striking disconnect between how organizations perceive flexibility and implement it to engage and retain employees. According to the recruitment firm, flexibility tops the list of priorities for senior managers when they are on the lookout for jobs but it plummets to tenth place when retention strategies are considered for their teams.
Employers who want to attract and retain talent need to move beyond providing remuneration and include flexibility as a key element of their recruitment strategy. They need to take into consideration employees’ preferences to discover novel ways of integrating them with business needs to bring about the best of both worlds.
Pushing the employees too hard to come to the office and stick to the 9-to-5 model could result in employee disengagement and breed reluctance. Also, presenteeism does not equate to productivity. So organizations need to strike a balance between the expectations of both the employers and the employees to build a workplace culture that is truly future-forward.
In the coming years, flexibility in work timings and location cannot completely disrupt the traditional 9-to-5 office working model, but to sustain it in the long run, the conventional model will have to let go of its rigidity. This will pave the way for a blend of varied work arrangements tailored to individualistic preferences, thus giving way to a new workplace culture.
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