Companies offer flexible work arrangements to attract and retain talent, but most don’t have the structure or support in place to maximize the value these programs can provide, finds a survey.
The Hewitt Associates survey of 90 American employers finds that just 27% have company-wide, formal written policies and almost the same percentage doesn’t formally communicate to employees about the flexible work programs they offer. Also, 71% don’t measure the effectiveness of these programs at all.
Human capital has become many companies’ largest and fastest growing corporate expense so organizations are feeling pressure not only to manage costs, but to also make sure they offer programs that can attract, retain and engage key talent, says Carol Sladek, principal in Hewitt’s work-life practice.
“Flexible work arrangements have become increasingly popular programs among employers because they are both highly valued by employees and relatively inexpensive for employers to implement,” she explains. “But these programs can also be terribly complex to design, manage and measure.”
In order for flexible work arrangements to be effective, companies must communicate often to those responsible for implementing the programs, says Sladek, adding that they need to offer ongoing marketing and training initiatives that clarify responsibilities and expectations.
“These communication, education, and training initiatives will become even more important as companies increasingly make these programs available to a wider subset of their employee populations.”
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