Achieving a work-life balance is a high priority for the modern employee. For working parents, new research from Regus suggests it is particularly vital. Wasted time means time not spent with family. Conforming to standard office hours was something people had to put up with in the past, but today other, more flexible, options exist—and parents are becoming increasingly aware of these options. 2,500 working parents in the UK and US were asked what they would spend their wasted commuting time on if they could get it back. The answer was clear—71% said they would use it to increase the quality time that they spend with their family.
In Hong Kong, there are around 200,000 families with both parents working on a full time[1]. Parents nowadays are more concerned about having a working arrangement that enables them to balance family and work, thus flexible working is now the number one desired benefit for working parents.
Employers, take note—if you do not have a flexible working strategy or have not investigated how to get one, then it could have a negative impact on your bottom line. Why? Because a business is only as strong as its talent—and if working parents are most concerned about the opportunity for flexible working, then they are very likely to take their talent to a business that offers it.
In fact, Regus research found that 85% of working parents feel so strongly about flexible working that they would forfeit other benefits to make it available. 96% of those surveyed said that they want to work for an employer that provides flexible working as part of a benefits package, while 85% are willing to work through their lunch break for flexible working. Perhaps the most important finding for employers is that 74% said they are willing to take on a different job if it offered a range of working locations—that’s almost three quarters of working parents who would walk out of a job and into a new position, possibly with a competitor, because their new employer was smart enough to recognise that working parents have no time to waste.
New technologies, such as mobile and cloud applications, artificial intelligence and automation empower people to work where, when and how they want—in a way that suits them and their lifestyle. In Hong Kong, open working hours and remote working remain two of the most welcomed flexible working arrangements on top of a 5-day work week schedule[2]. If it’s more convenient for a working parent to be near a school or nursery, or near a client, rather than the main office, strategies such as co-working and flexible spaces can make this shift possible. For many parents, a 9 – 6 schedule is simply too old-fashioned and impractical especially when a simple adaption to the the schedule can be made—such as a late start and a late finish, an early start and and early finish, or even no fixed schedule but a focus on delivering results.
Employers and employees need to have an open discussion about flexible working for the benefit of both parties. Perhaps other benefits can be swapped for a flexible option, or a new work schedule can be created. Having a flexible schedule that can work around the priorities of children has always been important. But now, with new technologies empowering parents to work how and where they like, it has become the number one perk for working parents worldwide. Smart employers should take note—not just for their employees, but for the future of their business.
[1] “Roundtable on Children’s Policy”, Hong Kong Policy Research Institute, April 2018
[2] “How to Resolve Long Working Hours in Hong Kong” Survey Results, Centre for Human Resources Strategy and Development, Hong Kong Baptist University, 2015
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Article by:
Nancy Yip Area Director, IWG Hong Kong |
Nancy Yip is the Area Director of IWG (International Workplace Group) Hong Kong, leading operations in Hong Kong and is responsible for the overall performance of all flexible workplaces operated under IWG through the brands of Regus and Spaces.
Paul Arkwright
Publisher
