How much do flexible work options save your business?
Let us count the ways! In a recent post, we reviewed how workplace flexibility can:
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Increase employee satisfaction
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Reduce attrition and turnover
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Improve employee attendance
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Increase discretionary effort
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Lower stress levels
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Improve employee wellness
And save your company a ton of money. In fact, in this New York Times article, Deloitte chairwoman Sharon Allen said her firm’s flexibility policies saved the company over $45 million a year by lowering turnover!
But the potential ROI of work flex extends even further. Telecommuting and virtual collaboration, for example, provide additional cost savings in the following areas:
Overhead. The notion that each employee needs a desk, cubicle or office is quickly going by the wayside. Thanks to technology, many types of employees can perform work anywhere – reducing employers’ need to maintain large office spaces. With a little creativity, progressive employers can save up to $10,000 per employee!
Want in on this action? Consider offering one or more of the following flexibility options:
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Telecommuting. Employees work from home either part or full time.
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Desk sharing. One or more employees coordinate to share a single work space.
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Drop-in workspaces. These are unassigned offices, available on a first-come, first-serve basis.
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Office “hoteling.” As the name implies, this is a way to conserve office space by allowing employees to reserve desks, offices or meeting rooms for when they need them.
Travel costs. With the average cost of a domestic business trip approaching $1,000 (and overseas trip costs averaging more than twice that number), telework and virtual collaboration offer huge potential travel-cost savings for employers. To save your company time and money, consider the viability of:
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ClickMeeting for remote meetings
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Skype for video conferences
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Basecamp for virtual project management
Overhead and Travel Costs: What’s the bottom line on flexibility?
Take a look at these statistics from Global Workplace Analytics:
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IBM cut real estate costs by $50 million through telework.
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Nortel estimates that they save $100,000 per employee they don’t have to relocate.
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Sun Microsystems saves $68 million a year in real estate costs.
How much could flexible work options save your company? Check out Global Workplace Analytics’ free Employer Workplace Savings Calculator Lite. Plug in your numbers – and calculate your company’s ROI.
Increase your work flex ROI with Corps Team.
As a national leader in flexible professional staffing, we provide a full complement of solutions to support your workplace flexibility initiatives. Contact your local Corps Team office for flexible access to the experienced professionals your business needs.
