Contrary to the narrative often portrayed in the news media, flexible work arrangements persist, even thrive, post-pandemic.
Your HR team may have already implemented FlexWork as a way to boost worker productivity or attract or retain talent. But if you’re still on the fence about FlexWork, consider these facts from the Flex Index, presented by Scoop:
- Some 62% of U.S. companies are offering FlexWork, up from 51 percent in January 2023.
- Fully flexible companies are outpacing their peers in revenue growth.
- Teleworking more than one day a week directly correlates to a reduction in greenhouse gas emissions.
These and other insights were the subject of a webinar on Dec. 7 hosted by two GCO FlexWork consultants, in collaboration with SHRM-Atlanta.
Longtime consultants Elham Shirazi and Robin Mack specialize in creating, implementing, and evaluating FlexWork programs for organizations nationwide, including companies in Metro Atlanta. Recently, Atlanta was ranked No. 1 by CoworkingCafe as the best city for remote work, earning high marks for its availability of co-working spaces, accessibility to public Wi-Fi, and robust entertainment scene.
FlexWork Findings
ESG at Work: According to data from the Flex Index, Environmental, Social, and Governance (ESG) plans continue to be a hot topic in HR circles within organizations. As more companies aim to reduce their carbon footprint and champion social causes, more employees appreciate the advantages of working from home, from reduced commute times to increased work-life balance.
Occupancy Rates: FlexWork policies and office occupancy rates are moving in lockstep. From January to October this year, office occupancy rates have remained under 50% while the average required days in the office per week hover just above 2.5, according to the Flex Index. In the U.S., only three cities in Texas have shown an increase in office occupancy, with New York and San Francisco having some of the lowest levels of occupancy rates.
Company Size: When it comes to a company’s ability to offer and implement FlexWork programs, size does matter; 74% of U.S. companies under 500 employees are fully flexible, with 14% of these smaller companies operating in a structured hybrid environment. On the opposite end of the spectrum, 17% of companies with 25,000 or more employees are fully flexible, with 60% offering a structured hybrid model, according to the Flex Index.
What’s Next
The FlexWork trend is likely to continue into 2024 and 2025, with better technologies that make flexible work options more advantageous to businesses across a wide spectrum of industries, including professional and financial services, media and entertainment, government and non-profits, and more, Shirazi said. How can flexible work arrangements propel your company? GCO offers complimentary consulting services to customize a plan to fit your needs. To learn more, click here.