Understanding Flexible Schedules for Modern Workplaces

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As the accounting profession looks to fill their talent pipeline, offering a flexible schedule can be an effective part of recruitment, employee engagement and retention.

A flexible schedule is intended to provide employees with more control over their work schedule so it can better fit their lifestyle. However, it doesn’t mean there is no structure or that they don’t have in-person attendance expectations.

Types of Flexible Schedules

• Working from home: Many workers find that working outside of a standard office environment allows them to focus better without the interruptions of an open office. Working from home may be an ideal fit in these scenarios. Some positions may be designed as 100% work-from-home opportunities, while others function best with hybrid scheduling. Employers should prioritize company culture and connection to help employees who work from home feel part of the team.
• Part-time employment: Many workers choose part-time employment to care for children or fulfill other responsibilities. Flexible work opportunities can provide even more support in these cases.
• Compressed workweeks: A compressed workweek means employees complete the same number of hours in fewer days. Working a four-day workweek, where work is completed in four 10-hour days, is becoming more common for professional roles.
• Flex time or flexible hours: With flex time, employees have flexibility in the timing of their work as long as they complete their expected number of hours. If an employee is asked to stay late or work an extra shift, for example, they can take an equivalent number of hours off later in the week.
• Asynchronous work: Asynchronous work allows employees to choose their own schedules, including start and end times, breaks and which days they work. This is often a good solution for companies with employees in different geographic locations who need to schedule meetings across time zones.

Advantages of Flexible Schedules

• For employees: Employees value flexible work schedules because they offer more freedom to design a schedule around their unique needs. Benefits include better work-life balance, enhanced productivity, reduced stress and greater job satisfaction. When employees have the flexibility to take time off or change their schedules, the likelihood of job-related stress decreases and job satisfaction increases. One study found that working at home increased job satisfaction by 65%, and working an alternative schedule boosted the likelihood of job satisfaction by 62%.
• For employers: Offering a flexible schedule allows employers to expand their talent search to include skilled workers in other locations and candidates who need to work from home for personal or family reasons. Employers could also see improved outcomes, including higher retention rates, enhanced productivity and reduced overhead costs.

Disadvantages of Flexible Schedules

• For employees: Not all employees enjoy working from home. They may feel increased pressure to be productive or feel like they are always on the clock. Blurring of work-life boundaries can quickly lead to employee burnout. Schedule flexibility can also create challenges for teams. When you aren’t sure when a team member will be in the office or on the clock, it can be harder to schedule meetings and get feedback.
• For employers: Some employees work better away from the office, but others don’t. When employees are struggling, they can’t do their best work and may not be as productive without the accountability of an office environment. Managers must be careful that employees working flexible schedules don’t become out of sight, out of mind.  Maintaining communication, providing feedback and offering recognition when schedules vary require extra effort.

Trends in Flexible Scheduling

Flexible work opportunities have dramatically increased since 2020, and they are here to stay. Younger generations of workers already have increased expectations for flexible work opportunities, and the benefits for employee health and wellbeing are undeniable.

With strategic vision and practical policies and guidelines, employers can use flexible work to attract new talent, increase engagement and retain their best employees.

Julie Caplan is the marketing content program manager at Paychex. She can be reached at jcaplan@paychex.com. Paychex is an NJCPA member benefit provider. Learn more at paychex.com/accounting-professionals. Access the full article on flexible work at go.paychex.com/nj-flexwork.