Flexible working hours are an indirect compensation benefit offered to employees that allows them to complete their tasks on their own time versus during a standard workday shift.

Flexible working hours are important because they’re one of the many ways in which employers can boost retention rates and lower employee turnover and absenteeism. 

By offering more flexible schedules to workers, an employer indicates to their team that they value their employees’ time. Within this general policy, workers can typically telecommute, start and finish their work according to their schedule for the day, and take care of personal errands or tasks without fear of repercussions (within reason).

Flexible working hours offer the following pros: 

• Builds trust and accountability among employees
• More productive teammates 
• Attractive benefit for prospects
• Great for staff retention 

With that in mind, flexible work schedules also present cons:

• Easier for employees to skip work (“time theft”) 
• Less immediate feedback and oversight for managers
• Fewer in-person coaching opportunities
• Trickier cross-department and -team collaboration

Remote work can be considered part of a flexible working hours schedule. And while remote work is rapidly becoming an industry-standard in the workplace, employers may find themselves struggling to help their employees be as productive as possible outside of the office.

The following five strategies help remote work teams:

1. Implement Software for Video Conference/Meetings
2. Commit to Virtual Collaboration Tools
3. Offer Integrated Communication Channels
4. Provide Project Management Tools
5. Consider a Productivity Monitoring Tool

Each can help you establish a stronger flexible working hours package for your team.

Related Terms: Company Culture, Employee Benefits