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According to a report from the Council of Economic Advisers — Work-Life Balance and the Economics of Workplace Flexibility (PDF) — published in March 2010, many companies overlook the benefits of implementing flexible workplace policies for their employees. Flexible workplace arrangements can include job sharing, phased retirement of older workers, and telecommuting. These practices allow workers to continue making productive contributions to the workforce while also attending to family and other responsibilities.
According to the report, flexible workplace policies can be linked to improved recruitment and reduced turnover, increasing the productivity of a company’s workforce and its overall bottom line. These practices are also associated with improved employee health and decreased absenteeism, a major cost for employers. The report suggests that if more firms would adopt these practices, then society as a whole would benefit, in the form of reduced traffic, improved employment outcomes and a more efficient allocation of workers to employers.
