Tag Archives: flexible

News

The rising cost of running a business forces more companies to think flexibly

• Two-thirds (67%) of UK businesses believe offering flexibility is crucial when it comes to competing for people with the most sought-after skills
• Half (49%) of businesses saying they have been operating in ‘a candidate’s market’ – one that favours candidates over companies
• Over half (52%) of businesses have increased salaries but can’t afford to keep raising wages at the rate they have been going

Two in three (67%) UK businesses believe offering flexibility to their workers is crucial if they are to successfully retain and attract talent, according to a new report published today.

Businesses realise they cannot compete on salary alone and instead offering flexibility is key to helping companies manage the rising costs of running their businesses. Over half (52%) of businesses have increased salaries to attract talented workers, but say wages rises can’t continue at the rate they have been going.

The second ‘Future World of Work’ report from Sonovate explores what flexibility means to businesses and workers throughout the UK, and how businesses are employing flexibility to remain competitive in what’s been a candidate’s market during 2022. It brings together quantitative research from 4,000 people and 500 small and medium-sized business owners, as well as qualitative interviews with senior thought leaders from the future of work, employment and fintech sectors.

With half (49%) of businesses saying they have been operating in ‘a candidate’s market’ – one that favours candidates over companies – businesses are having to think more creatively about what flexible benefits they can offer to attract, retain and reward their workers. Seven in ten (70%) businesses surveyed say the most skilled people know their worth and will only work under conditions that suit them.

The use of flexibility extends also to retaining the best people already working in permanent positions. Over a third (35%) of businesses report an increase in the proportion of their permanent workforce requesting to switch to contract or temporary roles.

Offering greater flexibility is practical for many businesses from financial and operational, as well as recruitment, perspectives. The report finds that businesses are increasingly turning to different forms of flexibility to attract and retain staff, particularly where it isn’t feasible to compete on salaries in a high inflation, recessionary market. More than four in ten (43%) businesses have raised wages for talent but say they cannot afford these inflated salaries for long.

The forms of flexible working most favoured by the UK’s businesses include allowing workers to choose their own hours (58%), accepting requests to move from permanent to temporary contracts (58%), and providing employees with utilities and internet subsidies to work from home (also 58%). Other popular options amongst businesses include enabling workers to choose which, or how many, days they work (56%), and enforcing a partial work from home policy (54%).

These broadly tally with the desires and expectations of workers. Sonovate’s research finds that 30% of freelance workers want to choose their own hours, as well as how many and which days they work. Three in ten (27%) want to be able to work part time if they wish to, and 25% are keen to work from home when they want to.

Richard Prime, Co-Founder & Co-CEO of Sonovate, comments on the findings: “As the cost of living crisis deepens and creates new dynamics and expectations, our understanding of what flexibility means and how it works is fast evolving. Flexibility goes far beyond where and when people work; it encompasses policies that let workers move between permanent and temporary contracts, wider benefit packages for longer-term contractors to match their permanent colleagues, and the right technology to enable flexible working and prompt pay.

“The reality we’re seeing on the ground puts paid to the suggestion that a cost of living crisis or high inflation environment will stem the tide of workers requesting or even demanding greater flexibility from the businesses they work for. The future of work is transforming month to month right in front of us. Macro market events that we might think would hinder the shift to a new world of work are instead accelerating and shaping working habits in fascinating ways.

“For many businesses, 2022 was the year of the candidate’s market; it remains to be seen whether that will continue into 2023. Either way, if 2023 heralds greater growth, lower inflation and more stability, it’ll be fascinating to see how flexibility extends its reach further and forces more businesses to think creatively about how they attract, recruit and retain.”

 

News

Research reveals the most productive time of day for each profession

A new study has pinpointed the most productive and creative times of day for each profession, with the average UK worker being most effective around lunchtime.

Brits are most productive late in the morning, at 11:54am, but feel most inventive during their midday break, reaching their creative peak at 12:42pm.

The research[1], conducted by Tic Watches, the watch and sunglasses specialist, asked 1,500 employees to reveal the hour of day they feel most creative, productive and energetic.

It appears that Brits have their most creative ideas just before lunch, with 10am-11am (15%) and 11am-12pm (11%) the most common responses. Women reach maximum creativity slightly later in the day than men, at 12:54pm and 12:24pm respectively.

The findings also suggest that the introduction of more flexible working hours could increase the nation’s creativity and productivity among younger workers.

While the average times were pretty consistent across age groups, younger workers are the least likely to feel creative between the hours of 9am and 5pm. More than two in five (42%) 25-34-year-olds feel most creative outside of these traditional work hours, compared to only a third (33%) of 35-44s and around a quarter (27%) of 45-54s.

Productivity follows the same pattern. More than one in six (18%) millennials feel most productive before 9am, while the same number feel they’re most efficient on an evening after 5pm – more than any other age category.

There is also considerable variation by profession. Accountants feel most productive in the morning at 9:48am, the earliest of all the occupations surveyed, while sales professionals get most work done in the early afternoon, at 1:12pm.

The professions that feel productive earliest in the day are:

1) Accounts – 9:48am

2) Civil Servants – 11:00am

3) Plumbers/Electricians/Builders – 11:00am

4) Administration/Office Workers – 11:42am

5) IT – 11:48am

The professions that feel productive latest in the day are:

1) Sales – 1:12pm

2) HR/Recruitment – 12:54pm

3) Finance – 12:36pm

4) Operations – 12:24pm

5) Teacher – 12:00pm

Despite not reaching their creative and productive peaks until lunchtime, Brits feel most energetic at 11:06am. More than a fifth (21%) of workers say they feel most active between 10 and 11am, before slowly fading as the day progresses. Workers feel laziest in the later hours, with 4-5pm and 3-4pm being the least energetic hours – just 3% of Brits feel most energetic at this time.

Interestingly, nearly a quarter of employees (23%) feel most sprightly before 9am, again suggesting that earlier working shifts might be worth exploring.

Joanna Shurety, Lifestyle Coach at Shurety Coaching, has shared her top three tips for increasing productivity at work:

● Find your best time – everyone is different, so find the best time for you to work. Assess the things that need to be done each day and identify the pockets of time available.

● Regular sleep – having a regular sleep and wake-up time is the best way to get consistent, restorative sleep. It will help your mind and body unwind and recover so you can start your days off in the best possible way.

● Plan your day – spend the first bit of your morning planning, building in time for tasks, lunch and periods away from your screen. Having a structure and focus for each day lets you celebrate and be accountable for what you achieve.

Danny Richmond, Managing Director at Tic Watches, said: “Covid-19 will undoubtedly have a long-lasting impact on the day-to-day of many professions. Lots of workers have enjoyed the flexible working arrangements afforded to them over lockdown and some may push for these to become permanent.

“Our new research has shown that many Brits feel more energetic, creative and productive outside of the typical 9-5 working hours, so it could benefit both employers and employees to continue this flexibility.”

For more expert advice on how to increase your productivity at work, visit: https://www.ticwatches.co.uk/blog/2020/09/how-to-make-to-boost-your-productivity-by-hacking-your-body-clock/