UK businesses spot the opportunity in flexible work

January 2004
Management Services;Jan2004, Vol. 48 Issue 1, p3
Academic Journal
The article presents information on the decision of business enterprises in Great Britain to switch to the rewards of flexible working, according to the latest Business in Britain report from Lloyds TSB Corporate. One third of firms currently offer work options for full time employees and these companies are already reaping the benefits. Flexible contracts and working hours are a major boon for businesses; firms offering flexibility claim that staff retention and morale are significantly improved, and that productivity is directly increased. Over one third or 37% of businesses have seen much greater staff morale following the introduction of flexible working and just under half, 49%, say that being a bit more adaptable has helped them retain valued staff. Peter Navin, Banking Director for Lloyds TSB Corporate, says that flexibility is now a vital recruitment tool that can give employers the edge in an environment where the competition for quality staff is intense. However, many firms believe that being more accommodating would be too impractical. Although only one in ten or 11% of companies do not think they would actually benefit from flexible working, seven out of ten or 72% still see it as unworkable.


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