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March 1, 2022   Enterprise, Entrepreneurs, Start-ups, Small Businesses, FinTech and Alternative Finance, Innovation and Resources, Leadership, Competition, Human Capital, Health   No comments

Flexibility is Important to Attract, Recruit and Retain Talent

Forbes | Jack Kelly | Feb 23, 2022

flexible working - Flexibility is Important to Attract, Recruit and Retain TalentCompanies concerned about the Great Resignation and trying to find, attract, recruit and retain talent should first do one thing: ask the candidate what they want. It sounds simple, but this doesn’t happen.

The pandemic has made us think differently. While we want to be paid well, there is more to the picture. Here are some of the things that management should take into consideration when they are interviewing applicants. If businesses are serious about getting the best talent, they need to think outside of the box and become creative.

The Four Or Five-Hour Workday

There is no reason why a person has to work for eight hours a day. It's an outdated construct from the past. During the last two years of the pandemic, people have worked remotely and spent considerably more than eight hours a day working.

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They also put in late nights and weekends. Partly this was done, as there wasn’t much else to do during Covid-19 lockdowns. Also, there was the prevalent fear of losing your job.  A four or five-hour workday would be seen as an employee benefit. It doesn't have to be for everyone. For those interested, the tradeoff is that they will have to get in on time, work diligently without any internet shopping searches and remain dedicatedly focused. If you are able to produce what is expected or exceed expectations, you’re out by around 2 p.m. or 3 p.m.

Flexible Staggered Hours

A record number of women left the workforce due to school closures and the lack of affordable childcare. It was particularly challenging as public schools closed and the kids had to endure irritating online video classes that necessitated parental help. A flexible and staggered work schedule would smooth out these types of problems. Let’s say there are dual-working parents with demanding jobs. One of the parents could start their day at about 10 a.m. after dropping the kids off at school. At the end of the workday, at about 3 p.m. or 4 p.m., the partner would leave to pick their child up from daycare or preschool.

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Flexibility entails offering the person the autonomy to decide where, when and how they do their best work. LinkedIn data shows that when employees are satisfied with their company’s time and location flexibility, they are 2.6 times more likely to report being happy and 2.1 times more likely to recommend working at the company.

Mental Health And Emotional Well-Being

Workers will no longer be taken advantage of. They won’t put up with mean and vindictive bosses, low pay, cruel treatment or a toxic environment. Employers learned the hard way—when attrition hit alarming rates. They've recognized the importance of mental health and emotional well-being. The data indicates that if employees feel cared for at work, they are 3.2 times more likely to be happy at work and 3.7 times more likely to recommend their company as a place to work.

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NCFA Jan 2018 resize - Flexibility is Important to Attract, Recruit and Retain Talent The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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