When it comes to your business, there’s one thing you need to think about above all else: your employees.
That’s never been truer than in the climate we currently live in. In 2018 it was reported that self-employment was rising in the UK—but why? Well, aside from being your own boss, it would appear that many people opt for self-employment to provide themselves with a better work/life balance.
However, there’s a simple way to stop your company from losing employees to self-employment, and that’s by focusing on employee wellbeing. There’s one area in particular you can focus on to help with this: flexible working.
There are a lot of arguments for flexible working, such as helping with the mental wellbeing of staff, which can also help increase productivity and profitability. But, it can also increase profitability by helping you to cut costs. But how? We’ve highlighted three ways to save on costs by focusing on employee wellbeing with flexible working below.
While you may not think it, the amount you spend on supplies will instantly be cut. If you have employees who mix it up and work from home for half of the week, they’ll be using significantly fewer pens, note pads and printing ink and paper, and a whole host of things you may not have thought of—milk, tea and coffee perhaps. This is particularly advantageous for smaller companies who need to keep margins tight at every turn.
But it’s not just these supplies, you won’t need as many desks and chairs to accommodate everyone at all times.
Then there’s desktop computers. Instead, replace them with laptops to ensure people can work on the go. Although it may seem expensive at first, in the long run, it’ll save you money and increase productivity.
Then there’s storage. Because everyone is on the move, you’ll be able to use cloud computing, removing a lot of stuff from the office, helping to save money, but also helping you to keep everything much safer.
Think about it, fewer people in the office, the less you have to spend on utilities such as gas, electric and water. While these come out at the end of each month, the amount they’ll be reduced by is significant, and can’t be ignored.
This will also help you to turn your office into a much greener space, as the carbon footprint of the office will be reduced.
While these are only three ways flexible working can help you save money, think of it in other terms too. You’ll be able to retain staff so you won’t need to waste time and money on hiring new people, and the chances of people leaving will be reduced due to the office offering something many don’t. Overall, it’s a win for everyone involved.