Quick post today because, well, it’s one of those days.
Flex time is just one component of work life balance. We will talk about the other components at a later date.
Today I want to talk about flex time.
This can include remote working, 1 a compressed work week (think a four day, ten hour week instead of a five day, eight hour week as an example), different start times (i.e. your boss letting you work 10 am to 7 pm even if office hours are 8 am to 5 pm), and for part-time employees can include options like job sharing.
So lately this is becoming a thing. 2 Gen Y workers really want flexibility in the workplace, and there is some evidence that there is a move towards employers giving just that.
Young people want to have fun more than they want to maximize cash-flow. With defined benefit plans going the way of the dinosaur and social security underfunded, however, I don’t find this line of thinking advisable.
As a Gen Yer I personally don’t get the fuss. 3 A ten hour a day, four day work-week sounds awesome (some days I work ten plus hours anyway), but it has reached the point that young people entering the workforce today are more interested in flex time than they are in money. 4
I’ll be honest, I don’t get it – but I also recognize that from a plan design perspective that doesn’t matter. The data is what matters – and it appears to pretty compellingly suggest that (at least younger) employees want flexible hours.
The question for me isn’t if this is something companies should be offering to their work forces (they obviously should – although the form this takes will of course be company by company contextual and business dependent).
No… the question for me is if flex time (for full-time employees) is something that can be offered in lieu of other extrinsic rewards. As an employee would you leave money on the table to work your 40 hours 5 when you want and where you want? If so, how much money would you give up? Why?
Share your thoughts below (or LinkedIn/e-mail since that seems to be preferred so far).
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