Flextime Work Schedule - Research Paper Example

Flextime Trivest Partners The Head of Strategic Management Team Junior Research Analyst SUBJECT: Flextime Report Requested by Senior Managers on March 26, 2015 Introduction The purpose of the memo is to provide a report as requested by the senior manager on March 26, 2015 and will outline my research and decision on flextime for the company. Flextime is a working system where the employees have a choice of their starting and ending time for work. Flextime is thus a variable work schedule in contrast to the traditional work arrangements that require employees to report at work during the standard day working hours (Hawks, para 1). Trivest Partners is headquarered in Coral Gables, Florida and was founded in 1981. The private equity investment firm has invested in niche manufacturing, consumer goods segment, business services, and value added distribution. The firm investment criteria is guided by the existence of strong management, reasonable growth prospects, diversified customer base, sustainable competitive advantage, leading market share and attractive cash flow characteristics. The current investments include Ellery homestyles, Northstar seafood, Getichealth, Advanced discovery, Pelican water systems, Wise Company, Onepath systems and Northfield industries. Trivest is thinking about using flextime to improve the employee morale, attain high job satisfaction and improve the overall productivity of the company. The report will outline the company background and provide detailed analysis of the advantages of flextime for the employees and the company. The company will also analyze the disadvantages of flextime for the employees and the company and provide recommendations that should be implemented by the company. Advantages to Employees Flexible working hours provide the employees an opportunity to attend to their family needs, personal obligations and life responsibilities more conveniently without jeopardizing their work demands (Financial Post, para 2). Flexible working schedules save employee commuting time and fuel costs since some commuting is outside the ‘rush hour’. This will allow employees to get at work in time and avoid the fuel costs that are incurred in traffic jams during the rush hours (Hirsh and Sun, para 3). The flexible working essential eliminate employee burnout and overload. Employees experience mental and psychical burnout while working on an ongoing schedule of eight hours per day and thus implementation of flexible work hours provides them time to relax and avoid burnout (Financial Post, para 3). Flexible working will allow employees to take personal control over their work schedules and working environment. Implementation of flexible work hours is a sign of compassion and flexibility and thus employees will feel valued and appreciated by the company. Accordingly, the work-life balance will ensure employees plan effectively and take personal responsibility for the outcome of their job roles (Schmitt, para 7). The employees will experience a high job satisfaction and self-accomplishment since flexible working hours allows them time to refresh and relax (Javitch, para 7). In this case, employees will enjoy working since they have the opportunity to select their preferred working schedules such as morning schedules or night shifts (Nathan, para 4). Advantages to Company The company will also benefit from implementation of flexible working hours. The company will benefit from increased employee job morale, high engagement and cordial relationships that will ensure employees remain committed to the company (Boucher, para 4). Another advantage offered by the flexible working hours is the reduction in absenteeism and lateness. These working arrangements reduce work-related stress and sicknesses thus reducing the rates of absenteeism since employees enjoy working for the company (Fell, para 4). The company will also benefit from good corporate reputation that will enable the company to attract and recruit talented workforce in the market. The company will reduce the recruitment costs due to positive reputation in providing flexible working hours (Haun, para 2). The company will also benefit from low employee turnover of the valued staff. Job dissatisfaction, work-related stress and strict working schedules are some causes of high employee turnover in related companies and thus flextime will ensure high employee retention due to work-life balance (Haun, para 5). Another critical advantage of the flexible working hours is the ability to implement extended operations in the departments such as the customer service department that will be able to provide services on a 24-hour basis (Fell, para 8). The company will benefit from increased individual and collective organizational productivity since the work schedules allow the employees to work during their most productive time (Javitch, para 7). The employees will be capable of exerting extra efforts since their work is schedule at a time when they are most productive (Mehta, para 5). Disadvantages to Employees Flextime may lead to discord among employees since some may feel discriminated in scheduling the jobs. The feelings of inequity in the selection of preferred working hours will lead to low job morale and dissatisfaction among some workers (Hawks, para 4). Another disadvantage of flextime for employees is a sense of isolation and lack of social connection with peers since the peers may have different working schedules. In this case, the employee will suffer from poor relationships with co-workers (Mehta, para 6). Disadvantages to Company One of the disadvantages of flextime for the company is the limited collaboration among various departments and related roles during the varying work schedules. Flextime is not appropriate for some work sites or jobs such as assembly-lines that require the co-workers to be available at the sametime (Haun, para 3). Flextime may require additional supervision in order to ensure employees report to work within their schedules. In this case, the company may be forced to hire additional supervisors to record the attendance of employees during the various schedules (Hr council, para 3). Recommendation The company management must establish the departments and jobs that are ideal for flextime arrangements in order to ensure proper job coordination and minimize the need for supervision. Trivest senior managers should consider implementing flextime since it will improve the employee morale and productivity. Although flextime is associated with less team work, the management can deal with this challenge by ensuring that employees who work in related departments or roles are encouraged to pick similar working schedules in order to maintain work collaboration and coordination. Flextime will provide extended operational hours since the customer care service department will be operational both during the day and night. This aspect of flextime will enhance customer relationship building and ensure higher customer loyalty. Trivest Partners recommended flextime Work schedules Monday Tuesday Wednesday Thursday Friday 0.9:00 hrs to 17.00 hrs 0.6:00 hrs to 14.00 hrs 16.00 hrs to 00.00 hrs Summary/Conclusion Flextime refers to a range of work schedules that allow the employees to adjust their arrival and departure schedules from the workplace. The employees have an opportunity to select their preferred working schedule in order to attend to other personal matters and attain work-life balance. Flextime has gained popularity since it provides for alternative working hours and creates a work-life balance that is essential in ensuring higher job morale and productivity. Trivest Partners should implement flextime since it improve employee morale, reduce burnout, and improve the overall organizational productivity. References: Boucher, Peter. (2015). ‘How Flexible Working can Benefit you and your Employees’, The Guardian. Retrieved from http://www.theguardian.com/small-business- network/2013/apr/15/top-tips-to-allow-flexible-working. Fell, Sara. (2013, December 25). ‘Top 10 Benefits of Flexible Work Policies for Companies’. Huffington post. Retrieved from http://www.huffingtonpost.com/sara-sutton-fell/top-10- benefits-of-flexib_b_4158603.html. Financial Post. (2015). ‘What are the pros and cons of Flextime?’ Retrieved from http://www.financialpost.com/small_business/businesssolutions/story.html?id=645783. Haun, L. (2011, March 16). ’85 % of Companies offer Flex Time, but does it really mean they’re flexible?’, The Business of HR. Retrieved from http://www.tlnt.com/2011/03/16/85-of- companies-offer-flex-time-but-does-that-really-mean-theyre-flexible/. Hawks, Douglas. (2015). ‘Flextime: Definition, Advantages & Disadvantages’, Study.com. Retrieved from http://study.com/academy/lesson/flextime-definition-advantages-disadvantages.html. Hirsh, Stacey and Sun, Baltimore. (2004, September 26). ‘Flexible Work Schedules Pay Off: Giving Workers Leeway Builds Loyalty, Firms Say’, Boston.com Business. Retrieved from http://www.boston.com/business/articles/2004/09/26/flexible_work_schedules_pay_off/. Hr council. (2015). ‘Workplaces that work: Flexible work arrangements’. Retrieved from http://hrcouncil.ca/hr-toolkit/workplaces-flexible.cfm. Javitch, D. (2006, June 05). ‘The Benefits of Flextime’, Entrepreneur. Retrieved from http://www.entrepreneur.com/article/159440. Mehta, Mithila. (2014 February 12). ‘Pros and Cons of Flexi work hour policy’ The Times of India. Retrieved from http://timesofindia.indiatimes.com/life-style/relationships/work/Pros-and-cons-of-flexi-work-hour-policy/articleshow/24285656.cms. Nathan, Susan. (2015). ‘Flextime’. Retrieved from http://employeebenefits.about.com/od/voluntaryprograms/a/Fletime.htm. Schmitt, E. (2009, March 16). ‘How a Flexible Work Schedule can help you Strike the Balance’, Forbes. Retrieved from http://www.forbes.com/2009/03/16/work-life-flextime- leadership-careers-flexible.html. Read More