According to experts, there are three challenges facing businesses in the UK today:
Given the rate of bankruptcy, acquisition and change in many organisations, it is essential to lead from the front in a way that encourages employees to welcome change rather than resist it. Businesses need to be flexible and agile, and this includes the way they manage, train and retain employees. Business owners who discuss change and share ideas with their teams will be more likely to gain support, than those who impose change and make sudden announcements without any prior consultation.
Research published last year suggests that on average 40% of a business professional’s time is spent in meetings – the equivalent of 60 hours a month. And in February a Deliveroo survey found that the average UK worker says 51% of the meetings they attend are a waste of time. In a world where flexible working is on the rise, this is costly.
A range of studies suggests that better morale levels boost productivity. Flexible working enables staff to be more productive and effective wherever they are – at another office location and on the move as well as at home. Research indicates that flexible working benefits staff recruitment and retention levels; this is particularly pronounced for the younger workforce.
Half of the workers in the United Kingdom are expected to be freelance by 2020. That, and the rise of flexible working, will have a profound effect on the way businesses operate. Considering how to maintain morale and retain key staff will ensure long term sustainability.