Benefits from flexible working
11 November 2022
Where are you reading this? Probably at your employer's offices, but perhaps you’re at home, since flexible working arrangements have become very much part of the new world of employment, according to recent studies and reports.
And that could bring benefits for tool hire firms and other businesses.
A real estate consultancy suggested that many companies are now putting less pressure on employees to return to offices and are retaining the hybrid and flexible arrangements they put in place during the pandemic.
And in an earlier blog post on the site about the spiralling energy costs, one hirer told me that, with fewer personnel now permanently office-based, they might be heating building spaces that are now too large.
One reason for the shift is that firms want to do everything they can to retain staff in a very strong jobs market. Indeed, in another earlier blog post, Neil Holloway, managing director of the Wilson Brook executive search and recruitment consultancy, told me that “The impact of Covid-19, overseas workers returning post-Brexit, people wanting to do something different after the lockdowns or seeking a better work-life balance have all made recruitment more difficult for employers.”
As a result, he says, employers are having to be creative and more flexible in their offerings. Staff prefer having more time with families, a better work-life balance, the reduction or elimination of time wasted commuting, and the money they save by not driving or taking the train every day.
This can also help employers. As also reported previously, Neil Graham, managing director of The Hireman, believes that being able to offer flexible working has enabled them to recruit well-qualified people for whom commuting is not an easy option.
It has been suggested that sharply rising utility bills will make people want to return to the office more regularly in an effort to save money. However, the money saved on heating bills would likely be outweighed by travel costs. And if an energy crisis leads to rationing, power cuts or, even, a shorter national working week, that might not be an option.
So the phenomenon of working from home could remain well beyond the autumn and winter. And as some rather cynical commentators have suggested, the trend could be reinforced because of the FIFA World Cup. It kicks off in Qatar on 20 November - just over a week away - with the final match scheduled for 18 December. With both England and Wales participating in the tournament (they’re even in the same qualification group), many people will doubtless have already booked their seat on the sofa.
But seriously, why could this trend be good news for business? It’s because if people are spending more time working at home, they may well need to improve their work spaces. The money saved by not commuting could go towards projects like loft conversions, garden offices and extensions. And people might just want to brighten up or renovate the areas they will spend most of their time in.
So while there may be talk of a recession and a house price slowdown in the months ahead, other areas of opportunity will remain or develop. Perhaps it’s all about being flexible, in more senses than one.
Photo: Taryn Elliott
