Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

Rethinking 9 to 5: Canadian Organizations Step Up to Support Employees Through Flexible Work Arrangements

Rethinking 9 to 5: Canadian Organizations Step Up to Support Employees Through Flexible Work Arrangements

Flexible work arrangements, including flexible working hours, remote work, and compressed workweeks, are more commonplace than ever in Canadian organizations.

A recent survey by The Conference Board of Canada found that almost nine out of 10 (86 per cent) Canadian organizations are now offering at least one type of flexible work option, and employers stand to benefit through a more engaged workforce and increased employee retention.

“Employees value flexibility when it comes to when and where they work for a variety of reasons and demand for flexible work arrangements is likely to increase as the Canadian population ages,” said Allison Cowan, Director, Total Rewards and Compensation Research, The Conference Board of Canada. “Canadian employees are seeking a balance in work and family obligations, with many facing both childcare and eldercare responsibilities, and are looking to their employers for support.”

Highlights

Almost nine out of 10 organizations (86 per cent) offer at least one type of flexible work arrangement.
The top reasons for offering flexible work arrangements are to help improve employee engagement, respond to employee demand, and to help retain top talent.
Among those who offer flexible work arrangements, flexible working hours are by far the most common type of arrangement (93 per cent).
Survey respondents reported that the top reasons for offering flexible work arrangements are to help improve employee engagement (62 per cent), respond to employee demand (42 per cent), and to help retain top talent (35 per cent).

Previous Conference Board research found that employees are more engaged when they have greater control over how their work is done. However, despite mounting interest in flexible work options, reported participation rates vary. The majority of eligible employees make use of ad hoc remote days, flexible working hours, and summer hours, but less than 40 per cent of eligible employees make use of other options such as job-sharing, full-time remote work, and a compressed workweek or compressed days.

From the employer perspective, there are a number of obstacles to implementing flexible work options including management resistance (64 per cent), concern over productivity losses (63 per cent), a lack of jobs suitable for flexible work (59 per cent), and lack of technology available to them to accommodate offsite work (30 per cent). While concern over productivity losses is one of the top barriers to implementation, just over a third of organizations believe that employee productivity is positively impacted by flexible work arrangements.

While most organizations allow managers to approve flexible work arrangements on a one-off basis, survey respondents indicated that only a minority of managers (21 per cent) and employees (14 per cent) receive formal training on managing flexible work.

Flexible Work Arrangements: Transforming the Way Canadians Work is based on a survey of 324 Canadian employers conducted by The Conference Board of Canada in June 2017.

Follow The Conference Board of Canada on Twitter.

A copy of the report is provided for reporting purposes only. Please do not redistribute it or post it online in any form.

For those interested in broadcast-quality interviews for your station, network, or online site, The Conference Board of Canada has a studio capable of double-ender interviews (line fees apply), or we can send you pre-taped clips upon request.

If you would like to be removed from our distribution list, please e-mail [email protected].

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post