Offering flexible work hours to your small business employees may serve as a cost-effective way to help recruit and retain the best workers. As a popular option to include in a benefits package, flexible work hours and alternative schedules can be agreed upon between an employer and their work staff to better accommodate the needs of employees.
When considering benefits like group health insurance, you may want to weigh the pros and cons of flexible work hours for your employees, especially since there may be little to no cost for your small business to implement this popular benefit.
Continue reading to learn about the advantages and disadvantages of flexible work hours in a small business.
According to the U.S. Department of Labor, flexible work hours serve as an alternative to a traditional work week schedule, letting employees change the times they arrive at or depart from work as a matter of agreement between them and their employer.
Examples of arrangements for flexible work hours may include:
Understandably, such arrangements are highly desirable to employees with families, children, and dependents. According to a survey by FlexJobs, working parents who are considering a job opportunity are likely to prioritize work flexibility and work-life balance over other main factors, even above salary and health insurance benefits.
Source: FlexJobs survey
The primary advantages of a flexible work schedule may include:
Overall, a small business might consider offering flexible work hours in order to better accommodate the needs and preferences of its workers.
Disadvantages of a flexible work schedule may include:
Ultimately, if employees are still completing their work on-time and as scheduled, and do not necessarily need to be in the office to complete particular tasks or projects, offering flexible work hours in an employee benefits package may be a worthwhile option to consider.
Besides offering group health insurance, flexible work hours can be another great way to help recruit and retain quality employees for your small business for minimal additional cost. With clearly communicated guidelines in place, your employees will likely appreciate having greater flexibility to complete their work while also having greater respect for their employer.
This article is for general information and may not be updated after publication. Consult your own tax, accounting, or legal advisor instead of relying on this article as tax, accounting, or legal advice.