13 December 2024

Find out exactly what is flexible working, plus the different types of flexible working and the many benefits for both employers and employees in this guide.

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What Is Flexible Working And What Are The Benefits?

Flexible working has been part of the modern vernacular for a number of years now. Such is its rise in popularity, in April 2024, it became law for employees to have the right to request flexible working arrangements from the first day of their employment. According to the Office for National Statistics (ONS), in 2024 more than a quarter of working UK adults use hybrid working models, enjoying a more flexible approach to their work pattern. So, what is flexible working, and what are the benefits for employers and employees?

What is flexible working?

Flexible working is an arrangement that gives employees more control over how they structure and manage their role. Essentially, it gives people more flexibility in where, when and how they work. The intended goal of flexible working is a better work-life balance that enhances job satisfaction and boosts morale, creating a more motivated workforce.

Businesses have adopted flexible working models because they recognise that prioritising employee needs, for example individual preferences or personal commitments enhances employee wellbeing. In turn, this leads to improved staff retention, engagement and productivity.

There are various ways that employers can implement flexible working models into their organisation; it isn’t simply a case of letting people work from home. The main types of flexible working you’ll encounter are:

1. Remote workin

Remote working is perhaps the most common example of flexible working. Remote working is when employees work from locations outside of the traditional office setting. Many people choose to work from home, while others work from places with internet access, such as cafes or libraries. A lot of remote workers spend their week hot desking. This gives them access to a hot desk in a serviced office for those days when they want to take a break from their home office and enjoy a collaborative environment in a coworking space.

2. Flexitime

Flexible working is also about the hours and times that you work. Employees can choose their own working patterns, usually within designated timeframes and set around a core period when everyone is expected to be contactable. For example, a company might require employees to be available from 10am to 2pm, but allow them to complete the rest of their hours before or after.

3. Hybrid working

Hybrid working is a combination of office-based hours and remote working. It’s fast becoming the norm for most employees according to ONS, and allows colleagues to get together for meetings and in-person collaboration when necessary, with the freedom to work elsewhere as and when required.

4. Job shares

Job shares give two or more people the opportunity to take on the same role, but share out the responsibilities. For example, one person might work two days a week, while the other does three days per week.

5. Freelance and contract work

A lot of people choose to work for themselves as freelancers or even as a secondary job for an extra income. Similarly, individuals might choose contract work, which lets them take on a role for a short period of time and then have some time off. Freelance work allows you to choose your own hours and place of work, and can be a gateway into running your own business.

What are the benefits of flexible working for employees?

Having more autonomy over your working schedule is appealing for many reasons. These are just some of the benefits of flexible working for employees:

1. Better work-life balance

Flexible working enables people to juggle all of their commitments, be it their job, childcare, or hobbies. Having the ability to work from home or in the evening allows individuals to fit in all of the things that matter to them, with less of the stress associated with a more traditional way of working.

2. Increased productivity

When you have a choice of where to work, you’re able to pick somewhere that you know motivates and inspires you. You can pick a spot that's free of distractions for improved focus, or somewhere lively and vibrant that energises you. Colony has created spaces that appeal to all ways of working, with dedicated desks, breakout zones and private areas specifically designed for productivity.

3. Improved wellbeing

Studies show that another one of the great benefits of flexible working is a reduction in overwhelm or burnout. Without the need to stick to rigid schedules or be tied to one location for long periods, workers can incorporate health and fitness activities into their routine. Even something as simple as being able to take a long lunch and make up the time later in the evening can improve overall wellbeing.

4. Reduced costs

Not having to pay for travel, whether that’s petrol, train fares or parking can significantly reduce monthly outgoings.

5. More time

One of the biggest benefits of flexible working is the time you get back. All of the other benefits mentioned above essentially come back to freeing up time. For parents, carers or pet owners, this can be a huge bonus, giving you time back to manage your other responsibilities while still pursuing a career.

What are the benefits of flexible working for employers?

The advantages of flexible working aren't just for employees. It can be a strategic advantage for employers too. By embracing flexible working arrangements, businesses can unlock a range of benefits, including:

1. Attracting and retaining top talent

Offering flexible working and allowing employees to work remotely lets employers hire professionals regardless of their location, therefore broadening the talent pool. By increasing job satisfaction for staff, flexible work models also improve employee retention, foster loyalty and reduce turnover.

2. Boosting productivity

Flexible working empowers employees to work when and where they’re most productive. Whether that’s remote work or condensed hours, employees can choose an environment and a time that suits them. Colony offices are open 24 hours a day to fit in with any working pattern.

3. Cost savings

By adopting remote or hybrid models, employers can save significantly on overhead costs such as office space, utilities, and supplies. Having fewer staff in the office means you can rent a smaller private office and only rent meeting rooms or event spaces as and when you need them. Additionally, a better work-life balance for employees can reduce absenteeism, lowering the costs associated with temporary replacements or lost productivity.

5. Increased agility and resilience

Organisations that implement flexible work policies are more adaptable to change, as they’re used to working in an agile way and responding to individual circumstances. If any disruptions occur - for example, a pandemic - businesses with remote-friendly structures are more likely to maintain continuity and reduce downtime.

6. Supporting diversity and inclusion

One of the advantages of flexible working for employers is being able to accommodate employees with varying needs, such as caregivers, individuals with disabilities, or those living far from major business hubs. This inclusivity fosters a diverse and innovative workforce, and also means companies can employ the best person for the job, not just the one that lives nearby.

Flexible working with Colony

The benefits of flexible working are varied and plentiful for both employers and employees. To make flexible working even better, Colony offers a range of coworking spaces beautifully designed for professionals in all fields. Our subtly zoned interiors, well-planned out communal spaces and community teams make Colony an exciting and inspiring place to work. Discover quiet areas for concentration, sociable spaces to encourage collaboration, and fully stocked kitchens to see you through no matter what time of day you’re working. With a range of memberships, all with flexible terms, you can get the work-life balance you crave in a coworking space that does more.

Contact us now for more information, or get started by arranging a day pass or signing up for a Colony membership today.