Flexibility or Higher Pay: Which Do You Prefer?
Modern workers subscribe more and more to the axiom "time is more valuable than money." How will the business world acclimate to accommodate this trend?
Is time really more valuable than money? It makes sense in theory: you can always recover lost dollars but you'll never get back lost hours. But how much are workers willing to sacrifice their time -- and the ways in which they want to spend it -- in order to secure more financial stability?
Businessman Victor Lipman, writing over at Forbes, believes the trend is pushing more toward the direction of flexibility. He cites a new global survey administered by the software company Unify that indicates 43% of workers would prefer flexible work hours over a pay raise. One-third would take a new job with lower pay if it meant more autonomy over work hours. According to Unify CMO Bill Hurley, business leaders who ignore this trend risk losing good employees.
As with many privately administered surveys, it's important not to take the numbers as gospel. After all, only 800 people "worldwide" participated, and Unify just so happens to be in the business of selling products that would help client companies adopt flex hours. Still, as Lipman writes, society is moving away from the rigidity of the typical work week and more toward alternatives such as telecommuting. It would seem that regardless of whether time is more valuable than money, the future looks like a place where we no longer have to make a choice between one or the other. Therefore, management needs to adapt.
Remember: a company's most important asset is its workforce. When valuable members of that workforce request a little more flexibility, the supervisor tasked with granting or denying the request needs to consider morale and talent retention in his or her cost-benefit analysis. Lipman explains that it's okay to grant leeway to keep people happy as long as you can ensure productivity won't suffer (it may very well improve). Adherence to the prior norms for the sake of continuity makes little sense if those norms are no longer necessary or pragmatic.
The stringent, unbendable structures of business-past are going the way of the dodo. Valuable talent, particularly from the younger generation, will expect employers to allow them flexibility as long as they can still get the job done. With the myriad ways technology has opened up new approaches to work, it's not an unreasonable request to grant.
Read more at Forbes
Image credit: Dooder / Shutterstock
Pfizer's partnerships strengthen their ability to deliver vaccines in developing countries.
- Community healthcare workers face many challenges in their work, including often traveling far distances to see their clients
- Pfizer is helping to drive the UN's sustainable development goals through partnerships.
- Pfizer partnered with AMP and the World Health Organization to develop a training program for healthcare workers.
The controversy around the Torah codes gets a new life.
- Mathematicians claim to see a predictive pattern in the ancient Torah texts.
- The code is revealed by a method found with special computer software.
- Some events described by reading the code took place after the code was written.
The controversy over whether Jesus had any siblings is reignited after an amazing new discovery of an ancient text.
Orangutans join humans and bees in a very exclusive club
- Orangutan mothers wait to sound a danger alarm to avoid tipping off predators to their location
- It took a couple of researchers crawling around the Sumatran jungle to discover the phenomenon
- This ability may come from a common ancestor
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.