Bums on office seats are not always good for bottom line
Employees can probably feel less guilty about tardiness or web-surfing during office hours. At least that's the implication of the results from a Regus global survey suggesting that flexible working conditions can help increase worker productivity and, by extension, company profit.
The survey, which covered more than 16,000 senior business managers, is one of the largest of its kind to validate the correlation between flexibility, productivity and profitability.
Among those polled in Hong Kong, 75 per cent said that flexibility boosted productivity, while 72 per cent agreed that it could help increase revenue.
Hans Leijten, Regus vice-president for East Asia, attributes the gains to enhanced employee morale.
"Flexible work gives people power to decide when and where they work. This helps them to plan and execute their work more efficiently and to reduce the time it takes to commute and to actually do the work," he says.
"A more efficient and happier worker will generally deliver better results."
At 67 per cent, a significant portion of Hong Kong respondents also reported feeling more energised and motivated, thanks to flexible work arrangements. Some 60 per cent even claimed to feel healthier, implying cost-savings on healthcare premiums.
Leijten notes that flexible arrangements can also help cut office rentals. "As a rule of thumb, 40-60 per cent of any office space is underutilised," he says. "In a city like Hong Kong, where commercial space is among the most expensive anywhere, there are big savings to be made."
And with many firms still reluctant to commit to large pay rise this year, flexible arrangements can be used as an employee retention tool, Leijten adds. "Staff who work flexibly report feeling healthier, more energised and more motivated, which is good for staff retention and morale," he says.
This view is echoed by Martin Cerullo, the global director of resourcing communications at Alexander Mann Solutions. "The ability to work flexibly makes up an important part of the overall employee value proposition. Employers who allow staff to work flexibly are really saying, 'I trust you to make the decisions about the time and working location that are right for you.' Naturally, this sends an appreciative message," he says.
Leijten notes that the Regus survey findings help reaffirm a common practice in Hong Kong, particularly among smaller nimbler companies where implementation is easier.
"Flexi-working is the future of work," says Leijten. "If you manage your employees by line of sight, all you can evaluate is bums on office seats. The best companies manage people by results, and flexible working clearly helps employees improve their results."