Recruiting talent over the next decade will be challenging for many companies.
As the work demographic continues to shift and technology advances at breakneck speed, Inc. reports, traditional brick-and-mortar companies will be challenged to recruit and retain the best talent available.
Bill Gates understood this years ago, and it is wisdom now deemed conventional: As competition to hire increases, companies that give more flexibility to its employees will have the upper hand.
The gig economy, remote work, compressed workweeks. It’s clear we have transitioned to an age where workers expect more flexibility. But while “flexibility” has increased substantially, the majority of companies today are either unable or unwilling to adapt to the lifestyle demands of young workers. In turn, they’re losing good talent to companies with more flexible options like remote work.
According to a recent study by FlexJobs, 84% of millennials want more work-life balance and 54% want to work a flexible or alternative schedule.
According to Global Workplace Analytics, up to 90% of the U.S. workforce say they would like to “telework” at least part-time, with two to three days a week being the sweet spot for the right balance of “concentrative work (at home) and collaborative work (at the office).”
Other research from survey software firm Qualtrics found that roughly 76% of millennials would take a pay cut to work for a company that offers flexible office hours. Read the full story.