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In the current economic climate it isn’t just large companies that are being affected by increased costs. Small businesses are suffering in the same way but have the power to reap rewards by introducing more flexible working arrangements for their employees.
However, there are beliefs that small businesses are more reluctant to grant flexible working for their staff but are considering alternatives in a bid to cut rising overheads.
BT’s Business Managing Director Bill Murphy comments on nebusiness that the economic slowdown may be the key reason behind the reluctance to grant more flexible working.
BT has recently experienced a 20% increase in productivity, morale and staff attitudes - all of which Murphy attributes to allowing its employees more flexibility. In return they have witnessed improved cost saving and new business wins.
Also on the upside is the increase in staff retention, cutting recruitment time and overheads like investment and training, all elements which can prove more costly for small businesses.