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Flextime Power Point Presentation

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Flextime Power Point Presentation

  1. 1. Compensation Strategies Business Research Report July 28, 2014 Presented by: Jamie Robinson Director, Human Resources Company A
  2. 2. Research Findings - Flextime  The availability of flexible work schedules is one tool that many see as critical to addressing the challenges families confront in managing the conflicting responsibilities of work and family life. (Devoe)  When employees are allowed flextime as a benefit, ◦ 92% are more satisfied with their jobs ◦ 85% are better engaged with their work ◦ 84% are more motivated (Human Resources Report, 2013)  Men are as likely as women to use flexible work arrangements (Hill, 2010)
  3. 3. Recommendations - Flextime  It is recommended that we offer more workplace flexibility by offering flextime to our employees.  Create a policy manual to document how the plan should be administered.  Core hours should be between 11 a.m. and 4 p.m. Arrival and departure times can be adjusted within these parameters.  The employee should collaborate directly with their manager; working together to design an optimal flextime plan.
  4. 4. Justification - Flextime  Happier, healthier, and more productive employees  Improved employee morale  Cost savings  Decreased absenteeism  Increased employee loyalty to the company  Lower employee turnover
  5. 5. Research Findings - Telecommuting  The rise of global networks and mobile technology now makes it possible to move work outside of traditional time-and-space boundaries (McDonald, 2013)  Many employees perform better and are more productive in a non-office environment (Biro, 2013)  In a study of 24,436 IBM employees, the employees reported that: ◦ Work interfered with personal and family life for 25% of them ◦ When employees were offered both flextime and the ability to telecommute, they clocked 19 more hours per week at 57 hours compared to 38 hours per week by employees working in the traditional office ◦ These same employees were happier and more satisfied with their job (Hill, 2010)  Workplace flexibility has proven to improve productivity along with other benefits of reduced operating costs, decreased absenteeism and the ability to win and retain the best talent. (McDonald, 2013)
  6. 6. Recommendations - Telecommuting  It is recommended that we offer more workplace flexibility by offering telecommuting to our employees.  Create a policy manual to document how the plan should be administered.  The employee should collaborate directly with their manager; working together to design an optimal telecommute plan.
  7. 7. Justification - Telecommuting  Happier, healthier, and more productive employees  Improved employee morale  Cost savings  Decreased absenteeism  Increased employee loyalty to the company  Lower employee turnover
  8. 8. Research Findings – Tuition Reimbursement  One of the most important and generous benefits a company can offer is tuition reimbursement (Jenkins, 2014)  53% of job seekers want tuition reimbursement (Harrison, 2003)  78% of job seekers want ongoing training (Harrison, 2003)  80% of employers offer some form of tuition reimbursement (Student Aid Services, Inc., 2014)  88% of employers found tuition reimbursement to be a useful employee retention tool (Student Aid Services, Inc., 2014)  66% of employers cited tuition reimbursement as the benefit most effective in retaining front-line employees (Student Aid Services, Inc., 2014)
  9. 9. Recommendations – Tuition Reimbursement  Offer a tuition reimbursement plan to our employees.  Create a policy manual to document how the plan should be administered.  Allow employees the ability to take classes to earn degrees, gain knowledge, or simply update their skills at the company’s expense up to $10,000 per year.
  10. 10. Justification – Tuition Reimbursement  Keep employees relevant with their skills and knowledge  Higher employee retention rate  Attract the best talent  Greater employee loyalty to the company
  11. 11. Research Findings – Paid Sabbatical  25% of the employers on Fortune’s 100 Best Companies to Work For in 2012 offered paid sabbaticals (The Build Network, 2013)  Morningstar plays up their sabbatical program in recruiting brochures (Overman)  Morningstar credits their sabbatical program as a great retention tool (Overman)  Sabbaticals allow employees covering for the employee to stretch and grow (The Build Network, 2013)  Stress levels decline over what they were before the employee went on leave (Levit, 2011)
  12. 12. Recommendations – Paid Sabbatical  Offer a paid sabbatical plan to our employees.  The sabbatical to include four-weeks of paid time off at the employee’s five year anniversary and every five years thereafter.  The sabbatical must be taken within two years of the eligibility date or will be forfeited.  Create a policy manual to document how the plan should be administered.
  13. 13. Justification – Paid Sabbatical  Great recruiting tool  Key retention tool  Great cross-training opportunity  Allows the covering employee to stretch and grow  Employee returns to work recharged
  14. 14. References:

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