Our third and final report in the ‘Fair Flexible Futures’ programme demonstrates the financial case for frontline firms to invest in flexible working. The results show that break-even is reached surprisingly quickly, through savings in costs relating to sickness absence and staff churn.
Following on from successful pilot programmes in five frontline sectors (retail, construction, social care, teaching and the NHS), Timewise commissioned the Institute for Employment Studies to undertake a break-even analysis of investing in flexible working. IES calculated how quickly the benefits of improved retention and reduced sickness absence could offset the costs of a typical programme.
The findings make a strong case: within just a few years, savings begin to outweigh the costs of implementing flexible working, and begin to deliver financial returns.
We hope this powerful analysis will help fill the evidence gap on flexible working ROI, and provide the impetus for employers and policymakers to prioritise investment in changes to working patterns, for the benefit of business, the individuals they employ, and society as a whole.
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