What will flexible working look like in 2024?

The ideal working arrangement has been a hot topic in recent years, prompted by social and economic transformations that demand a shift in approach. This has led to a challenge for both employers and workers to negotiate a mutually satisfactory agreement

CREDIT: This is an edited version of an article that originally appeared on Forbes

The UK government has recently enacted new regulations on flexible working, granting workers the right to request flexible work arrangements from day one of employment. This underscores the permanence of flexible work and highlights the importance of early adoption by businesses.

The future of traditional workplace occupancy, and whether it will trend towards a rise or decline in favour of standard flexible work arrangements in the long term, remains uncertain. However, reports indicate a probable uptick in office occupancy numbers throughout 2024. While a return to the pre-pandemic five-day in-office work week appears improbable, data suggests an increasing number of companies are pushing for return-to-office mandates for several reasons.

Balancing the productivity requirements of the organisation with employees’ desire for flexibility to address family and financial commitments poses a significant challenge. Small businesses may encounter workforce shortages if there is an increase in resignation rates due to in-office mandates, ultimately impacting their long-term financial performance. This could potentially lead to trends like the “Great Resignation” of 2021.

Although 2024 may not witness significant shifts in work-from-home trends, it will mark the beginning of a transformative era, where remote work will become five times more prevalent than it was in 2019. Additionally, small businesses will increasingly embrace diverse flexible working arrangements, including structured hybrid models or entirely remote positions, in their endeavours to attract and retain top talent.

Companies that prioritise flexibility will experience accelerated growth, heightened customer and employee satisfaction and retention, increased innovation, and improved bottom-line performance. This isn’t mere speculation. By the close of 2024, business leaders who believed that return-to-office mandates alone would enhance productivity will recognise that there are additional factors at play beyond the physical location of workers. Meanwhile, organisations already offering flexibility will significantly outshine their competitors.

One long-term strategy gaining traction is flexitirement. As baby boomers gradually transition out of the workforce and younger generations step in, the risk of a significant knowledge gap looms without adequate succession plans. Flexitirement programs address this challenge by allowing retiring employees to continue contributing their experience while also integrating the fresh perspectives and energy of younger generations. This approach enables companies to harness a blend of seasoned expertise and youthful innovation at a fraction of the cost associated with hiring new talent.

As flexible work becomes more prevalent, it’s imperative for companies to adapt their management strategies to accommodate the evolving needs of the workforce and foster a supportive organisational culture. Leaders must prioritise the creation of an employee-centric work environment that emphasizes not only productivity but also employee engagement.