Deloitte have issued an insightful report on US human capital trends in 2013, and the conclusion:
“…workplace flexibility has grown to become a requirement for organizations that want to make the most of its people’s productivity.”
Business leaders who balance their people’s needs with their company’s needs can be a step ahead of the competition in the race for talent. Finding this balance is what leading companies are doing now. Consider this:
“By 2025, Gen Y employees, now in their 20s, will grow to represent 75% of the workforce. For this emerging generation, work-life fit is valued more than compensation growth or skill development”.
By 2025, many of these GenYers will be building families, and the pressure will be on to find employers that have designed an organisation that embraces the concept of an elastic workplace. Flexibility is not just for mothers, Deloitte found that some 80% of professional men surveyed were seeking to work less hours, and that one in every five employees cares for elderly parents, a number that could increase to almost half the workforce. So societal pressure is combining with personal preference.
There are other factors too that are facilitating this evolution in the workplace:
Talent competition and changing expectations. Despite high levels of unemployment there are still talent shortages in critic al functions. So when vying for talent, workplace flexibility will a deciding factor.
Digital natives. Most of us are digital natives and the reality of connect anytime anywhere is the flux to the elastic workplace.
Workplace disruption. In the ‘open-talent’ economy employees are no longer bound by place. As more teams work across time zones the traditional 9 to 5 workday is obsolete.
Workplace flexibility is not a new concept, what is new is the way society at large is being reshaped by generational change, so flexibility is no longer a luxury but an essential. Smart employers are already adapting.
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