Author : Yaprak Selin Keskin
Publication date: 03.08.2023
The rapid technological advances have fundamentally transformed communication and business practices. As a result, flexible working models have gained increasing popularity in the corporate world. Let’s talk about the significance of flexible working models in the future of business and potential changes in the ways we conduct business. In particular, flexible working models offer a plethora of advantages to businesses and employees replacing traditional office-based arrangements. Which are these significant trends that may shape the future of work?
Flexibility: Complexity in the Workplace and Changing Approaches
Flexibility in the workplace is complex, as interpretations vary across organizations, departments, and teams. Managers often find it challenging to determine how to allow the best employees to work in a manner that suits them. IBM and Bank of America experimented with flexible working arrangements but scaled back due to a perceived lack of business benefits. However, the post-pandemic landscape has seen a surge in companies expressing their intentions to "embrace flexibility," particularly through a hybrid working model.
Reasons For Changing The Working Model
There are three primary reasons for this shift in mindset.
Boosting Productivity With Remote Work Flexibility
Firstly, businesses recognize that the 24/7 remote-work flexibility can be harnessed to enhance productivity. Employees' ability to work in environments where they feel most comfortable and focused can lead to improved output and creativity.
Retaining Talent Through Flexible Policies
Secondly, there is growing pressure from employees, especially Millennials, who see flexibility as a non-negotiable aspect of their work-life balance. Therefore, the threat of losing valuable talent has pushed many companies to adopt more flexible policies to retain their workforce.
Work-Life and Business Goals
Lastly, some leaders believe that granting flexibility automatically results in a better work-life balance for employees. Offering freedom to manage work schedules and locations is expected to improve employees' work-life balance.
As companies embrace flexibility, they must balance business objectives with employee needs and expectations. Successful implementation requires careful consideration of individual differences, team dynamics, and overall organizational goals.
Flexible Working Models
1. Remote and Distributed Work:
One of the most notable changes in the business world is the widespread adoption of remote and distributed work models. The power of the internet enables employees to interact with one another and their employers regardless of geographical boundaries. Remote work broadens the talent pool, improves work-life balance, reduces commuting costs, and enhances environmental sustainability.
2. Flexible Working Hours:
Rather than adhering to the traditional 9-to-5 work schedule, flexible working hours are expected to become more prevalent in the future. Recognizing that employees' peak productivity hours may vary, flexible working hours enable them to work according to their productive cycles. As a result, this fosters increased motivation.
3. Shared Office Spaces:
With the rise of flexible working models, shared office spaces will also see increased prominence, replacing the traditional office lease model. This allows businesses to reduce their rental costs and collaborate with smaller teams or freelancers more efficiently.
4. Project-Based Work:
In the future, work models will increasingly be project-based. In particular, companies will form temporary teams of experts for specific projects, enabling them to work more flexibly and efficiently. This approach brings together diverse skill sets, leading to more innovative solutions and a broader knowledge base.
5. Automation and Artificial Intelligence:
Automation and artificial intelligence will play a greater role in the future of business. So, these technologies will revolutionize repetitive and time-consuming tasks. This way, they will liberate employees to channel their efforts towards more strategic and creative pursuits.
Flexible Working Models In The Future
In the future of the business world, flexible working models and changes in how we work will prove beneficial to both businesses and employees. Remote work, flexible hours, shared spaces, project-based approaches, and tech innovations foster an effective, efficient, and sustainable business landscape. Therefore, companies must continue to adapt with flexibility and innovation to maintain a competitive edge amidst these transformations.
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