Total compensation management is a viable, creative strategy for navigating the increasing prevalence of the flexible workforce. One of the lasting impacts of the consumerization of IT is a workforce for which flexibility is a right, not a privilege. More companies are attracting employees by leveraging working options that offer greater independence. Whether it’s working from home, telecommuting, bring-your-own-device or flexible hours, incorporating one or more of these perks into the job description can substantially increase a company’s reputation as a forward-thinking employer and make it a place where people want to work.
However, the flexible workforce does present some challenges, not only for communication and logistics but for keeping track of employee performance. A total compensation management strategy can help an organization optimize the value of its workforce while treating employees to more autonomy.
Is the nine-to-five job disappearing?
The idea of the nine-to-five workforce is fading into obscurity. People’s lives simply are not as rigidly defined as they used to be, and many job seekers prioritize flexibility at the same level as salary, prestige and opportunity for advancement when considering a job, according to Forbes. This can offer opportunities for companies to build a more adaptive, responsive and productive workforce. FlexJobs recently published a report of the most in-demand flexible jobs in 2013:
- Nursing
- Data entry
- Marketing
- Writer
- Java developer
- Editor
- Project manager
- Sales
- Accounting
- Customer Service
Many of these jobs would have been typical nine-to-fivers in previous generations. Now, they can often be performed in an ad hoc or project-based fashion, like software developing, writing and accounting. Others, like sales and customer service, are changing as businesses shift to a more open, 24/7 service strategy.
“With advances in technology and the way we communicate, it is becoming much easier for all different types of industries to offer flexible work arrangements such as telecommuting options,” stated FlexJobs Chief Executive Officer Sara Sutton Fell. “The days when people worked exclusively from their desk in an office setting are already a thing of the past, as most professionals check email, make calls, and access documents from mobile devices or personal computers.”
With a total compensation management program, employers can establish a better link between performance and payment, developing a platform in which salary correlates more closely to output and productivity, rather than an across-the-board measurement like the 40-hour work week. With granular compensation management, employers can also better institute performance incentives. This way, organizations are paying employees for what they actually do, not simply for just showing up to work between specific times. This makes for a more productive and process-driven workforce.
