Companies aren't the only organizations saving money through flexibility—governments are, as well. The Department of Environment, Land, Water and Planning in Victoria, Australia, has been implementing flexible work policies over the last several years, and their efforts are paying off. In fact, according to a state-commissioned report from the consulting firm Nous, flexibility is saving the Victorian government 31 million Australian dollars—nearly 23 million USD—each year.
Victoria commissioned the report to show how flexibility begets financial gains, not just social justice. "Today's report proves that flexible workplaces are not only the right choice but the smart choice," Minister for Women Natalie Hutchins tells The Mandarin.
In fact, the biggest benefit to the department was increased productivity—with employees reporting they can "work smarter and better" by working remotely or working part-time—but the department also witnessed less absenteeism and a better ability to attract and retain top talent, especially workers with caregiving responsibilities.
This news out of Australia not only corroborates our coverage of the financial benefits of structured flexibility, but it also echoes our research, which also showed that flexibility is key in increasing productivity and talent retention. In our survey of nearly 1,600 white-collar U.S. workers across a range of demographics and firmographics, we found that a lack of flexibility negatively impacts the performance and productivity for a third of the workforce—and that employees without access to flexibility were twice as likely to report being dissatisfied at work. Additionally, 1 in 2 employees said they would leave their job to find a more flexible alternative.
The benefits of flexibility are indisputable. If organizations here in the U.S. want to replicate Australia's results and poise themselves for economic growth, they must reconsider the fundamentals of how jobs are designed and how, where, and when work gets done—and Werk has the tools and data to help.