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9 ways to cut costs with strategic work/life & flex benefits

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in Employee Benefits Program,Hiring,Human Resources,Leaders & Managers,Performance Reviews

Amid layoffs, furloughs, pay cuts and frozen salaries, most organizations are holding onto their work/life benefits during the recession. And some of them are using flextime, telework and other employee favorites as cost-cutting strategies.

A new study by the New York-based Families and Work Institute (FWI) shows that 81% of employers continue to offer workplace flexibility; 13% have increased it.

Reason: “A number of employers have recognized that if they provide flexibility, they can save jobs,” FWI president Ellen Galinsky testified during a July hearing of the Congressional Joint Economic Committee. “Being a flexible employer tends to pay off for the business.”

Although businesses typically view flextime, compressed workweeks and part-time schedules as recruitment and retention strategies, just 6% percent of employers have ditched those practices, even as they cut staffs and freeze hiring.

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