In fact, according to the Institute of Public Policy and Research (IPPR) nine out of ten small firms are currently offering flexible working to their employees. Which suggests that it’s not only possible but beneficial for start-ups to allow their employees to work flexibly.
1. Match hours to work levels
When your business is in its formative years you might find that you only need part-time staff. After all, if there’s not much work coming in yet and you need to save on costs, you don’t want to have employees hanging around, right? Gradually building up the number of hours your team works or adding to your team as your start-up develops is the ideal solution. They get to fit their work around personal commitments such as young family, while you maximise your precious budget.
2. Save money on staff and overheads
Offering flexible working options can also save you money by acting as a value-added incentive that trumps a high salary. In one study, 30% of people surveyed would choose flexible working over a pay rise, meaning you can have the edge over your competition, if your overall package is made more appealing by the flexibility.
As well as this, you’ll save you money on things like office or desk rental, especially if you’re willing to through a remote working option into the mix.
In addition to all of this, flexible workers are more likely to be happier, healthier and more productive than their full time colleagues - so you will also save in sick pay/absence costs as well as benefit from better productivity - a no-brainer!
3. Get more skills for less cost
As your business grows, you’re likely to need more specialist skills - operations, marketing, sales and so on. But do you have enough work or budget to support full time roles? If not, then employing part timers is an ideal way to build a team without overstretching yourself on staff costs. Freelancers are also another flexible option to reduce your costs in the short term, until a more permanent resource is needed.
4. Attract top quality talent
Ultimately, however many hours your employees manage to clock, the difference between a business floundering and flourishing is the calibre and morale of its staff.
A recent survey showed that 70% of workers feel that flexible working makes a job more attractive to them, while another study found that, ‘by offering flexible hours, companies attract over-skilled employees to job roles and employees are happy to accept the roles because they’re so flexible’.
5. Create an amazing culture
You want the best and most motivated team to work with your clients and represent your business, not only are flexible and part time employees are more productive and more focused, the work life balance they have means that they are great role models and can make a great impact on your culture - which is great for business!
All of which goes to show that offering flexible working is one of the best ways to get high quality talent into your team without breaking the budget, especially during that all important startup time.
If you’d like to discuss growing your team with flexible working, get in touch today.