Flexibility—The Key to Attracting & Retaining Frontline Talent
October 22, 2024
by Kristin Brennan
The modern workforce craves flexibility. Traditional benefits alone are no longer enough to attract and retain top talent. Today, businesses must adapt or risk losing valuable employees to companies that understand the importance of accommodating individual needs.
This is where offering flexible pay and scheduling options comes into play. Flexibility gives employees their desired work-life balance, leading to a more engaged, satisfied, and productive workforce.
Understanding the Power of Flexible Pay and Scheduling
Traditional benefits, while often comprehensive, fail to acknowledge that each employee has a unique set of needs and priorities.
For example, a single, younger worker might prioritize gig-like flexibility over robust health insurance. Parents, however, may value immediate access to wages for improved financial well-being. It’s easy to see why offering flexibility as an employee benefit has become increasingly popular.
How and Why to Implement Increased Flexibility
According to a recent study, a significant proportion of hourly workers (80%) reported facing economic difficulties in 2023. More than half of them (52%) stated that these challenges had led to a notable increase in their stress levels.
While increasing wages is an important step toward addressing employees’ economic struggles, companies that prioritize a modernized pay experience and flexible work arrangements will gain a competitive edge in the ongoing quest to attract and retain top hourly talent.
How do you handle this as an employer? The answer might be surprising—but implementing a comprehensive workforce management software can be the key.
Earned Wage Access
For example, with Legion InstantPay, employees can have immediate access to earned wages, which improves their financial well-being and reduces stress and turnover.
By introducing earned wage access (EWA), employers can provide a flexible pay solution that enables employees to tap into a portion of their earned wages ahead of their regular payday. This innovative approach offers immediate financial relief for workers facing unexpected expenses while empowering them to take control of their finances and break free from living paycheck to paycheck.
Scheduling
The 2024 State of the Hourly Workforce Report, a recent study commissioned by Legion Technologies, revealed a striking insight: nearly half (47.5%) of managers surveyed pinpointed inflexible scheduling as the primary obstacle to retaining hourly employees in 2023.
Legion Automated Scheduling leverages the power of AI to create optimal schedules that match business needs with employee preferences and skills. With automated self-service shift swaps and shift claims, employees get more control over their work-life balance.
Increased flexibility in pay and scheduling shows employees that you value their individual needs, which is a great recruiting tool. When you meet employee needs, they are happier and more likely to stay with your company.
Reap the Benefits
Let’s explore the advantages of offering flexible employee benefits:
- Increased Employee Satisfaction: Allowing employees to tailor their schedules to their needs makes them feel valued, leading to greater job satisfaction and a more positive company culture.
- Enhanced Recruitment and Retention: In a competitive job market, organizations offering flexibility have a distinct edge, attracting top-tier talent and reducing expensive employee turnover.
- Improved Work-Life Balance: By offering options like flexible schedules and instant access to pay, businesses demonstrate care for employees’ well-being outside of the workplace, leading to better focus and productivity.
- Cost-Effectiveness: These benefits provide what employees genuinely value without the price tag of costly benefit packages that employees may not even care about. Automated scheduling also leads to better utilization and lower overall costs.
- Reduced Onboarding and Training Expenses: As turnover is reduced, so are the costs of onboarding and training new employees.
Planning and Implementation
While workforce management software has many advantages, businesses must plan carefully for successful execution. Consider these important factors:
Communicating Clearly and Effectively
Successfully transitioning to a flexible model requires transparent communication. Companies must effectively communicate with their workforce, explaining available options, program guidelines, and the value of personalized benefits packages.
A dedicated platform for providing these benefits and communicating with employees in one place can streamline this process, providing employees with access to information and resources.
Legion Frontline Communications is employee communication software that creates multiple opportunities for employees to speak with their team leaders before, during, or after their shift and can be accessed within the same space where they manage their schedules.
Managers can also use Frontline Communications to create polls and surveys to gauge the success of new initiatives among their employees.
Flexibility Is Foundational to Employee Satisfaction
The need for more flexible scheduling and pay options for hourly workers is clear. These programs offer businesses a way to attract and retain top talent, foster a happier and more productive workforce, and even save money. They demonstrate care for employee well-being by recognizing the individuality and varying needs of a diverse workforce.
When you’re ready to revolutionize your team, schedule a free demo with us. We can help you reduce labor costs significantly, cut scheduling time in half, and achieve higher employee satisfaction.