The ROI of flexibility in leadership
Wednesday, October 9, 2024 - Dignify
The nature of flexibility in the workplace
Flexibility – sometimes, it may seem impossible. With all the things your team has on their plate to do, you might look at everything and think there’s no room for flexibility at all. You get caught in a spiral where you find yourself unable to move deadlines, denying requests for time-off or hybrid work, or refusing to change processes that aren’t working for your team members. It’s not that you’re trying to be an uncompromising leader, or be uncompromising to your team, it’s just what you see needs to be done based on everything on your plate.
It’s easy to get locked into this mindset. “I can’t, I can’t, I can’t.” And it makes sense – we are naturally averse to changes or flexibility, especially when we’re under all the stress and pressure that come with tasks and deadlines. However, the evidence shows us that flexibility is not just possible, but often beneficial, no matter what the situation is. Flexibility in leadership – being adaptable in decision-making, open to feedback, and responsive to the varying needs of your team – yields substantial returns for your company, your team, and yourself. Not only does it improve employee morale, retention, and productivity, but it also forwards your company’s bottom line. We’re going to take a look at a few examples that show why flexibility really matters.
Employee engagement and retention
One of the most direct returns on flexibility in leadership is its impact on employee engagement and retention. Leaders who are flexible and open to accommodating the needs of their teams, whether by adjusting schedules, being adaptable on approaches to tasks, or allowing for remote or hybrid work arrangements, are the most effective at keeping their employees actively engaged with their work. When employees have a leader that they can count on to accommodate them in the ways that they need, they are much more likely to go above and beyond in what they do, and it shows in the results.
A Gallup analysis which covered 256 organizations across 96 countries in 54 industries conclusively found that organizations in the top quartile of employee engagement outperformed those in the bottom quartile by a massive margin. These organizations, among other statistics, boasted:
- 23% higher profitability
- 18% higher sales
- 81% lower absenteeism
- 64% greater safety
- Significantly lower turnover in both low and high turnover incidents
Strengthening employee engagement in your organization in a way that is sustainable can and will have irreplicable benefits for your company’s bottom line, and it’s not something that can be left to the wayside. By practicing flexibility in your leadership, you can tap into some of these benefits and ensure that your team is creating as much value as possible.
Employee productivity
Flexibility creates productivity, and rigidity destroys it. Sticking to rigid, one-size-fits-all approaches with employees without taking their unique needs and ideas into account will only lead to frustration, stress, and ultimately, inefficiency. An employee that isn’t being listened to is one that isn’t having their needs met, isn’t being treated with dignity, and isn’t one that will be as productive as they can be.
Some ways that you can put flexibility into action and make your people more productive include:
- Offer remote/hybrid options for work or flexible hours to enable employees to work when and how they will use their time most effectively
- Be adaptable on processes and willing to change them when employees find a more efficient or effective way of doing something
- Allow your employees to take a mental health day when they feel burnt out and unable to complete their work and meet the expectations set for them
- Be open to feedback on your leadership to understand what you can change or reinforce to support your team members in the most effective way
Each of these will also help you create a strong level of psychological safety in your team, which will allow your team members to make more innovative, effective creative decisions to drive value.
Work-life balance
Finally, flexibility in leadership will help employees experience a healthy work-life balance, which is one of the most in-demand factors of employment in recent years. 63% of people said that they would choose work-life balance over better pay, and 90% of employees agree that work-life balance is important to what they do. Most remarkably, over half of the Gen Z employees that quit their job in 2022 reported a lack of work-life balance and flexibility as their reason for leaving.
For many employees, work-life balance has become non-negotiable. They need to feel able to respond to things that happen in their lives without putting themselves at risk in their work. So, if an employee needs to pick up their kid from school, wants to build in some time with their family into their schedule, or needs to work from home some days, do your absolute best to be flexible with them and accommodate that. It will go a long way towards keeping your top talent around for the long term.
The bottom line
By being responsive to the unique needs and preferences of employees, flexible leaders help create a supportive environment where everyone can thrive and create the most value they can for the company. Flexibility doesn’t mean lack of structure. It means being willing and able to pivot when new information or circumstances arise, and accommodating people as necessary. Leaders will see a significant return on their investment and forward the bottom line of their company through greater engagement, greater productivity, and a healthier work-life balance.