Improved flexible working culture also has the potential to encourage the economically inactive or unemployed individuals to return to work, potentially boosting GDP by up to 4.7 percent. Organisational cultural behaviour most impacted by ageing workplace suggests Zurich survey. Increased longevity will prompt changes to cultural behaviour within organisations and has the greatest implications for the workplace, according to a new poll from leading insurer Zurich.

Of those surveyed, two fifths of risk and HR benefits professionals (41 percent) believe that organisational cultural behaviour is the most significant factor affecting the workplace in light of increased longevity, ahead of changes to employee benefits (26 percent). The latest research* highlights the challenges for employers as older workers are set to comprise a larger proportion of their workforce in the coming years.  When asked which other workplace factors would be most impacted by increased longevity, nearly a fifth (19 percent) highlighted personal development and training as the third area to address in light of an ageing workforce, followed by changes to the physical workplace environment (14 percent).

The research also examined the impact of increased employee mobility from a risk management perspective, with employees operating from multiple locations. Recognising the changing nature of the workplace and the trend towards an ‘always on’ mobile workforce, half of those surveyed (50 percent) cited employee health, wellbeing and security as being the most significant implications for their businesses over the next five years.  Over a third (35 percent) said managing and measuring employee productivity and engagement would have the greatest impact for their organisations.  Investment in technology (12 percent) and employee benefits (three percent) were also highlighted as areas for the employers to address in the future.

Commenting on the findings Simon Foster, Head of Corporate Life and Pensions, UK and International Savings said, “We understand that changes in employee mobility and longevity are having a significant impact on employers as they try to strike a balance between meeting the changing needs of their employees whilst managing the associated risks inherent within in their businesses. As the workplace continues to evolve there is an opportunity for insurers, employee benefit consultants and employers to work together to ensure businesses provide an optimum environment for an increasingly mobile and  older workforce, enabling them to continue to contribute to the workplace and help deliver tangible benefits for their organisations”.
 

Citrix, revealed the results from its study with Centre for Economics and Business Research (Cebr) into the potential economic impacts of a more widespread ‘work from anywhere’ culture in the UK. The study found that 96 percent of the UK knowledge worker population would take advantage of flexible working if made available to them. This could potentially add an extra £11.5bn per year to the UK economy through the more productive use of available working hours, the equivalent of 0.7 percent of GDP. In addition, more extensive flexible working practices could save commuters £7.1bn, with a reduction in commuting costs and time spent travelling (which also has a value). 

“Over recent years many organisations have become firm advocates of the benefits of flexible working and this study verifies the impact such a culture can bring to the wider UK economy,” said Jacqueline de Rojas, Area Vice President, Northern Europe, Citrix. “Technology now enables us to work from anywhere, at any time. It is time to move on from judging workers on how long they spend at their desks to evaluating them on the work they actually deliver. By realising that employees do not have to be in the office from nine to five, employers will reap the benefits of an even more productive, contented workforce – and as illustrated here, reaching a new, untapped pool of talent in the process.”

Benefits to today’s workforce

The research also revealed that there is currently a high demand from employees in the UK to work more flexibly. 94 percent of UK knowledge workers would opt to work from home on average two days per working week. If organisational culture throughout the United Kingdom changed to allow for this, there would be savings in commuter costs of £3.8bn, with a further reduction of 533 million hours spent travelling to and from work annually (increasing these savings to £7.1bn the commuter value of time is taken into account). Such changes would result in an improved work-life balance as well as considerable financial gain for individuals.

Widening UK employment

In addition to improving the work/life balance of those currently in full-time employment, today’s report also indicates that the desire for more flexible working opportunities could deliver significant benefits to the wider UK economy by engaging people previously excluded. The research revealed that:

68percent of those currently unemployed, retired, carers, disabled, long-term sick or a full-time house-husband/wife would be inclined to start working if given the opportunity to work flexibly. Should this economically inactive part of the UK population re-enter the workforce due to a change in working culture, this could boost the UK’s GVA by up to £78.5bn (adding 4.7 percent to the total UK GDP). 60 percent of part-time working respondents indicated that they would be inclined to work more hours if given the opportunity to work remotely. With 745,000 part-time workers in the UK who would like to work remotely, this could potentially create an additional £1.6bn in GVA output

Jacqueline de Rojas adds: “Businesses in the UK need to look very closely at the provisions they make for flexible working. Those that choose not to enable workplace mobility will lose out in the war for talent and could arguably suffer from lower employee productivity. The technology to make this happen is widely available, but we need to see a mentality shift to where it becomes an everyday part of working life.  The economic argument for flexible working is quite clear – the UK as a whole needs to contribute to a culture where anywhere, anytime working is the accepted norm.”