The ROI of Flexibility (Part 2)

iStock_000057049148_SmallHow much do flexible work options save your business?

Let us count the ways! In a recent post, we reviewed how workplace flexibility can:

  • Increase employee satisfaction

  • Reduce attrition and turnover

  • Improve employee attendance

  • Increase discretionary effort

  • Lower stress levels

  • 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:

  • Telecommuting. Employees work from home either part or full time.

  • Desk sharing. One or more employees coordinate to share a single work space.

  • Drop-in workspaces. These are unassigned offices, available on a first-come, first-serve basis.

  • 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:

  • ClickMeeting for remote meetings

  • Skype for video conferences

  • 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:

  • IBM cut real estate costs by $50 million through telework.

  • Nortel estimates that they save $100,000 per employee they don’t have to relocate.

  • 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.

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