"Small businesses are always looking for more clients, and we can bring that to them very affordably. Again, corporate flexibility and adapting to market demands can be the key to success. A flexible business model can help a business shift its core focus to accommodate market demands. A flexible business model helps niche businesses in today's business climate. The Balance Careers uses cookies to provide you with a great user experience. A flexible design will reduce redesign costs and allow quicker response to customers with increased performance. Flexibility on the part of a worker could be to adjust the hours they work—coming in early, staying late, or working on an off day—to accommodate the needs of the company. When evaluating business flexibility, the idea is to look closely at all the activities involved in the business operation. 3. Simply put, a flexible workforce describes a staff that is optimized for when it is needed. This helps employees maintain a work / life balance and can help employers improve the productivity and efficiency of their business. Other product-based small businesses find success with bundling product offers to add value or coupling products with services, such as a free one-year support plan with a product purchase, or on the flip side, a free product with the purchase of a service package. It's not necessary to be the first to enter the market; it can be about doing it bigger, faster or better than everyone else. Don’t just do what others tell you. Whether that means changing your business model, lowering prices, outsourcing or leveraging innovative, value-added pricing strategies, today's small businesses may want to consider embracing corporate flexibility to survive. Quick Reference. Employees who approach their job with a flexible mindset are typically more highly valued by employers. Similarly, employers who cultivate a flexible work environment are attractive to employees. Flexibility is a personality trait that describes the extent to which a person can cope with changes in circumstances and think about problems and tasks in novel, creative ways. Let no one think that flexibility and a predisposition to compromise is a sign of weakness or a sell-out. Having employees who are willing to step outside their job description means employers don't need to find others to take on more work. Financial flexibility sounds great, but how do companies achieve it? "Every successful business faces increased competition over time. There are many definitions for flexibility. Freedom and happiness are found in the flexibility and ease with which we move through change. when they are asked to take on a new assignment. Labor market flexibility refers to firms' ability under a jurisdiction's laws and regulations to make decisions regarding employees's hiring, firing, hours and working conditions. Here are some examples of the ways workers can demonstrate flexibility. Thus, they have more to offer their employer than employees who can only do one or two tasks. The importance of flexibility in business. Small businesses bringing a quality product or service to the table may not be stifled by freelance competition, but encouraged by it. 56. vague meaning. Financial flexibility gives a business the ability to adapt, pivot, and evolve with relative ease. It keeps us from becoming complacent. Workplace flexibility includes the ability to adapt to changing situations, resilience, innovativeness, and the willingness to learn and apply new skills. You’ll Land More Clients. Learn more about workplace flexibility, its benefits, and the skills workers and employers use to stay flexible. While flexibility is very necessary when your business is taking unexpected twists and turns; I think that flexibility, in general, is a wise trait for entrepreneurs to cultivate, even in times where things are feeling certain and going well. The organization has to identify major changes in the environment, quickly change commitment of resources to new courses of action to counter the change, and to identify markers in order to restore to previous commitments when the external environment is back to the initial state. They may telecommute during special conditions, such as inclement weather, or on a daily basis. Flexibility definition, the ability to bend easily or without breaking:The shoe soles are made from elastic materials to provide perfect flexibility. But if your business really wants to differentiate itself, consider elevating flexibility to the level of a company core value. In our business, preparation is essential, but flexibility is often needed as well. Focus on a scalable business model 5. 1 Shares. Tools like R-HUB web video conferencing servers, WebEx, GoMeetNow, gotomeeting etc. When businesses embrace corporate flexibility, it can be possible to weather these challenges. Workers with an orientation towards flexibility don't say, "It’s not my job" or "Do I have to?" These factors can enable small businesses to respond readily and rapidly to shifting demands. At the end of the day, customers want to feel as though they're receiving value. Adaptability & Flexibility Adaptability is a critical quality that employers seek in early 21st-century employees. While flexibility is very necessary when your business is taking unexpected twists and turns; I think that flexibility, in general, is a wise trait for entrepreneurs to cultivate, even in times where things are feeling certain and going well. Others must lower their price points to attract new clients, while some leverage innovative pricing models that increase value for customers without sacrificing revenue. Small businesses can actually be at an advantage in this regard compared to major enterprises, where embedded systems and processes, multiple layers of decision-makers and broader, slower feedback loops can hinder corporate flexibility. It can also help mitigate the war for talent.. As an HR professional, you are in the perfect position at the perfect time to make a difference in both your company and in the country. flexibility definition: 1. the ability to change or be changed easily according to the situation: 2. the ability to bend…. For instance, small businesses serving core business components could suffer as corporations seek full-time staffers to meet those needs. It helps workers achieve greater work-life balance, leading to increased employee satisfaction and improved morale. Managers who are flexible provide workers with greater latitude about the way they accomplish goals. Savvy niche businesses survive in today's business climate, where outsourcing and freelancing are part of the picture. Is the variation in the numbers of hours worked and the timing of the work. See more. "We've seen a significant increase in our business because of our global hiring in the Philippines," says Sander Daniels, co-founder of Thumbtack. Strategic flexibility can be used by organizations as both an offense and defense mechanism, depending on the nature of change and its impact on the organization. Workplace flexibility is a strategy that emphasizes being able and willing to adapt to changing circumstances when it comes to how work gets done. 2. The discussion applies concepts taken from two theoretical frameworks: the Generic Process Model (GPM) and the theory of coordination. The importance of flexibility in business simply can't be overstated. Every niche faces its own set of challenges, but small businesses have a lot of commonalities. Flexibility is a trait most employers look for in an employee. Harvard Business Review, Nov./Dec. Take Keap's Lifecycle Marketing quiz to identify growth opportunities in your business. Individual complications are dependent on the niche market they serve. Don’t set a course and blindly stick to it. 54. A unique positioning 2. Learn more. This can be accomplished by making the employees multi-skilled so that they can perform various types of tasks whenever required. Competition keeps us awake at night. Product flexibility can be defined as the amount of responsiveness (or adaptability) for any future change in a product design, including new products and derivatives of existing products. Clarissa learned that each customer has a different need and it is impossible for management to predict what the needs wou… Outsourcing can also mean more affordable labor for some businesses. Capable of being bent or flexed; pliable: a flexible hose. The best example of strategic flexibility is the firm that is able to transform itself radically and permanently. Despite its name, Employmum is a unisex service. By: Pam Lassiter. Flexibility is a necessary entrepreneurial trait. With rapid changes in technology, diversity and society, companies need employees who are open to new ideas, flexible enough to work through challenging issues, and generally able to cope when things don’t go as planned. Work flexibility (also called workplace flexibility) is when the employer gives some or full freedom to its employees to choose the time (when), location (where), and manner (how) in which they work to help align organisation goals with the individual goals. © 2020 American Express Company. This can be accomplished by making the employees multi-skilled so that they can perform various types of tasks whenever required. That in turn means employee turnover is reduced, as is the cost to recruit and train new hires. When you are flexible, you are able to deal with unexpected challenges quickly, calmly and efficiently. Always keep developing your vision and your goals. Flexibility For Success Alessandra described five components someone should have to attain a high level of flexibility: respect for people, confidence, … And employees need to think about what they can offer the business in return for enjoying a flexible approach from their employer. Workplace flexibility is a strategy of responding to changing circumstances and expectations. A service-based business utilizing a cost-plus pricing model may pivot to subscription-based pricing, hourly pricing or tiered, volume-based pricing. Share 1. Paul Kagame. A defensible positioning, i.e., difficult for competitors to replicate 3. "Over the last year, we've actually been able to increase prices on our site," says Daniels of Thumbtack. Flexibility in the workplace allows employers and employees to make arrangements about working conditions that suit them. But flexibility isn't just about reacting to situations as and when they arise. Some small-business owners have succeeded because of the outsourcing trend. We have also had to lower our prices to get clients.". 4. Differentiation can occur by way of a variety … The added competition, which often comes at a lower cost, can pose a challenge for established boutique firms. Please review. "We have a team of 150 hardworking, talented people who have allowed our business to thrive.". (Definition of flexibility … Product-based businesses aren't without options to innovate on pricing, however. They assess the needs of employees and provide feedback, guidance, and recognition individually to optimize performance. May 2, 2020 By Jackie Harder Leave a Comment. As a basic definition, flexibility in the workplace is about when, where and how work is carried out. Check for Pre-qualified Credit Card Offers, Credit Intel – Financial Education Center. Our challenge is to determine if there is a way that all businesses can apppreciate and support “flexibility.” Why? In other words, it is a group of multi-skilled workers.The term ‘flexible workforce’ may also refer to a workforce that grows and shrinks in size.Specifically, it grows and shrinks in size according to the employer’s needs. With it, there’s far more potential and peace of mind. However, flexibility is difficult to achieve and may lead to new issues and concerns. Flexibility requires strong communication, transparency and trust. Functional Flexibility is a concept in companies where employees can work in different functions or can be deployed purposely to various functions with different roles and responsibilities. Financial flexibility means different things to different business leaders, but it’s something every company should strive for. For example, when a new player enters the market with a new product, it is a major change in the external environment of an existing organization. Golf is flexibility, and I notice more guys injured. Some small businesses may find success with performance-based pricing, in which customers pay for results rather than time or services. Flexibility at Work Definition: Flexibility at the workplace allows one to evaluate what is happening and adjust to the role and responsibilities or even the job being offered. Whether that means changing your business model, lowering prices, outsourcing or leveraging innovative, value-added pricing strategies, today's small businesses may want to consider embracing corporate flexibility to survive. Volunteer to cover a colleague's work while he is on leave. Some examples of workplace flexibility on the part of a manager include: Workplace flexibility can also refer specifically to regular work arrangements that promote work-life balance, as opposed to one-off accommodations for special circumstances. New data . Some areas of business may resist and indicate that it isn’t suitable for them or their business. With regard to joints specifically, flexibility is the degree of extension that its tissues are capable of. It spurs us on to outpace them. All rights reserved, Insights and Inspiration to Help Grow Your Business. In a guest blog post for PR In Your Pajamas, co-author of Small Business, BIG Vision Matthew Toren wrote: "I define flexibility in business as the ability for a company to make whatever internal changes are necessary to respond effectively to … Pricing is another area with two sides to its story. Review your business to see what aspects are repetitive or monotonous and make it your ultimate goal to automate them as much possible so that your attention remains focused on growth-related activities. 4 Reasons Speed Is Everything in Business It's difficult to overstate the importance of speed in business. Being flexible is not something that business owners should fear; rather it is something that can actually help you take your business to the next level. Such is the case of Spyglass, the firm which commercialized the first Internet browser, Mosaic. In other words, the flexibility principle is a concept that suggests any information system used by a business should be able to change and grow with the company. Some of the common feedback she receives from her store managers involves her inability to authorize returns or match sale prices without the permission from upper management. There are a variety of ways that workplace flexibility can be implemented by workers and employers. Small businesses, on the other hand, can benefit from having tighter, rapid feedback loops and more direct involvement from decision makers, as well as looser processes and systems. Remote working and flexibility helps businesses in savings on travel costs, increasing efficiencies in business processes, increasing productivity etc. Others have increased profits by outsourcing some tasks to offshore talent. Service-based businesses tend to have a bit more flexibility in terms of pricing models compared to product-based businesses. SaaS and other software companies, for instance, can leverage volume-based pricing or a freemium model (in which basic features are offered for free and advanced features are available on paid tiers). This trait is used when stressors or unexpected events occur, requiring a person to change their stance, outlook, or commitment. Businesses are willing, even eager, to pay for new clients.". Workplace flexibility meets the needs of both the business and its workers. Employees with a flexible attitude keep the company's objectives in mind and work to achieve them, tailoring their efforts to the mission at hand. Being flexible gives the potential for a business to hold a competitive edge due to their wider variety, different volumes and varying delivery dates. Definition: The flexibility principle states that an accounting information system should be able to adapt to changes in the company based on its needs, operations, and management. Alison Doyle is the job search expert for The Balance Careers, and one of the industry's most highly-regarded job search and career experts. Two forms of flexibility are discussed: Short-term flexibility, which is the But they will outsource to a marketing agency. For example, one employee may require more structure in their job duties and another may function better working independently. For boutique firms, the trend toward outsourcing is a plus, as corporations gladly enlist smaller firms to help with non-critical business components. "We have completely changed the way we market ourselves, from strictly being a PR firm to more of a marketing agency," says Becky Boyd, VP of MediaFirst. Part of flexibility in business means being able to apply your existing skill … Small businesses that help other business owners to thrive may see an uptick in revenues as those other owners seek any opportunity to increase revenues. the quality of being able to change or be changed easily according to the situation: The new law gives auto makers more flexibility in meeting lower pollution targets. ble (flĕk′sə-bəl) adj. Show Summary Details. This speaks to Thumbtack's business model: Serving new leads to small businesses, especially those desperate to secure new business. b. These work arrangements typically include flexible schedules outside of the traditional 9-to-5. This usually begins with the ordering of raw materials for the production of various products. Employee Life and Family Challenges With Flexible Work Schedules? Here are a few examples of how you might demonstrate it: Offer to help out another team member if you notice that he or she is overloaded. In the sense of managing human resources, flexibility can be defined as the organisation adapting to size, composition, responsiveness and the people. Chief Ideation Officer, CODA Concepts, LLC. Flexibility and Rigidity in Russian Business Contracting: The Formal and Informal Framework in Contracting by Soili Nystén-Haarala, Elena Bogdanova, Alexander Kondakov, and Olga Makarova, the authors remind us that regulations will always be enforced by I was talking to a local shop owner the other day who was bemoaning the typical seasonal business slowdown. An example of such flexibility is allowing employees to give input when creating schedules and allotting shifts. Customer loyalty – e.g. For some organizations, it could mean hiring multiple temporary employees for a spike in business. flexible meaning: 1. able to change or be changed easily according to the situation: 2. able to bend or to be bent…. Flexibility and Rigidity in Russian Business Contracting: The Formal and Informal Framework in Contracting by Soili Nystén-Haarala, Elena Bogdanova, Alexander Kondakov, and Olga Makarova, the authors remind us that regulations will always be enforced by Overview temporal flexibility. Freelance workers typically are hired for project-specific assignments. In contrast with a risk problem, a flexibility crisis is one of the large number of improbable but possible events that threaten the basic earning power of the business. "Companies are not hiring PR agencies anymore. Don’t accept everything as it first seems. A business should not feel like they have to offer flexible work conditions if they genuinely don’t suit the role or the business structure. Flexible managers treat employees as individuals and make an effort to accommodate personal styles and needs. A clear customer need in a defined, significant target market It is trite to say that the essence of competitive advantage is a differentiated offer relative to competitors. What we are seeing is that people want the ability to work remotely, work split hours, work around the traffic, do school drop offs or pickups or leave early on a Friday for a … Functional Flexibility is a concept in companies where employees can work in different functions or can be deployed purposely to various functions with different roles and responsibilities. Closely linked to cost, efficiency and flexibility targets look at how effectively the assets of the business are being utilised, and how responsive the business can be to short-term or unexpected changes in demand. A version of this article was originally published on March 29, 2012. Retief Goosen. When professionals find themselves out of work, many look to freelancing. By using The Balance Careers, you accept our. Delivery flexibility is being able to change the timings of delivery in a product/service. The Advantages of Flexibility in an Organization. The paper aims at discussing the meaning of flexibility in business processes. Lack of flexibility in the workplace kills productivity, says report 9th October 2015 5:38 pm 18th January 2017 5:15 pm New research shows that highly engaged staff are more likely to be late for work, do personal tasks during working hours such as online shopping and checking social media accounts, and work from home. You can overdo this conditioning. In other words, it is a group of multi-skilled workers.The term ‘flexible workforce’ may also refer to a workforce that grows and shrinks in size.Specifically, it grows and shrinks in size according to the employer’s needs. Price points are in constant flux, as some niche markets are in high demand and can realistically raise prices. A flexible schedule is also dependent on employee availability to cover all aspects of the job and all hours of the day during which a business makes products or serves customers. Flexibility skills are also relevant to the approach management takes to handling employees. Flexibility at Work Definition: Flexibility at the workplace allows one to evaluate what is happening and adjust to the role and responsibilities or even the job being offered. Small businesses today must be flexible, or they risk failure. 1. a. Pin. It can also help an organization reach its goals thanks to improved productivity. Customers—both B2B and B2C—prefer working with companies that are responsive to their needs, so a flexible business model can also foster customer satisfaction and brand loyalty. Tweet. Business agility refers to rapid, continuous, and systematic evolutionary adaptation and entrepreneurial innovation directed at gaining and maintaining competitive advantage. Flexibility is a necessary entrepreneurial trait. When your vision changes, change direction with it. percentage of repeat business; Efficiency and flexibility targets. 55. It is very important for the employer and employee to be flexible as it creates a streamlined workforce and technology adopted, due to changes in the market. Volume flexibility involves the output of a process and being able to produce different quantities/volumes. Flexibility A firm’s ability to respond to changes in its environment both rapidly and at low cost In a business context, flexibility can refer to a number of different ideas. Flexibility aspects of the capital structure decision are very similar to risk problems and are analyzed in the same way. But those in specific target markets are more likely to thrive during periods of global economic strife. This leads to customer frustration and spoils the customer experience which leading to loss of customers and profit. The business is now two years old and is placing about 10 people a month. Workplace flexibility A company is said to have workplace flexibility when they acknowledge employees’ needs to deal with unforeseen circumstances in regards to scheduling. Telecommuting: Not every employee needs (or wants) to work in an office; telecommuting lets them work from elsewhere, such as a home office or coworking space. Managers will often need to adjust schedules and delegate routine tasks as they focus on reaching the company's priorities. Regardless of what type of job you are applying for, it will benefit your candidacy if you can show the interviewer examples of how you are flexible and willing to change course. On the flip side, however, U.S.-based small businesses could see work decrease if their niche is a service that's easily provided by offshore workers. In physiological terms, flexibility is defined as the ability of a joint or a group of joints and muscles to effectively move through an unrestricted and pain-free range of motion. Readily bending or twisting the body without injury: You can play soccer much better if you're flexible. Freelance talent can be a major competitor for established small businesses. Instead, flexible employees modify their approach to tasks based on the preferences of stakeholders and the unique demands of each situation. Essential components of a successful strategy include, but are not limited to, the following: 1. Flextime: Employers with a flextime policy allow their workers to stagger arrival and departure times as necessary. "We needed to do this because of the economy," Boyd explains. It is very important for the employer and employee to be flexible as it creates a streamlined workforce and technology adopted, due to changes in the market. Workplace flexibility emphasizes the willingness and ability to adapt to change, particularly regarding how and when work gets done. Share. Flexibility For Success Alessandra described five components someone should have to attain a high level of flexibility: respect for people, confidence, … flexible workforce: A flexible workforce is one that grows in number to meet needs at any given time and falls back to a baseline number when the increased size is no longer necessary. It keeps us from becoming complacent. Allow me to explain how flexibility has taken on a pivotal role in decision making. See more. Workplace flexibility meets the needs of both the business and its workers. FLEXIBILITY is essential in changing business environments. It spurs us on to outpace them.". A nurse who works the afternoon shift will have trouble exercising flexibility, for example, if they can't find another employee to cover their shift. Flexible employees, for their part, are willing to do whatever is necessary to get the task accomplished, whether that means taking on more responsibilities, doing different tasks, or doing more at work. In a flexible workplace, the needs of both employee and employer are met. Flexibility has become an increasingly valuable skill in modern workplaces where unpredictability and change is often constant. Competition and the Freelance Factor With the capability to adapt and mold offerings and experiences to deliver better products, higher-quality services or greater overall value, small businesses can earn market share even in the most saturated niches. Expanding access to workplace flexibility is a priority that is critical to helping working families and driving employee engagement. Flexibility definition, the ability to bend easily or without breaking:The shoe soles are made from elastic materials to provide perfect flexibility. Flexibility is the capacity to adjust to short-term change quickly and calmly, so that you can deal with unexpected problems or tasks effectively. Typical forms are flexitime, overtime, shiftworking, zero-hours contracts, compressed working week, seasonal-hours contracts, and annual-hours contracts. Process flexibility not only improves your processes in terms of their output, but trusting the process user in key moments makes following the process easier for them too. A flexible workforce is a workforce that can perform a variety of different functions. Workplace flexibility is often used as a tool for retaining and engaging employees. Able to change to cope with variable circumstances: "a flexible and quietly competent administrator" (Jerome Karabel). 5 Tips to Achieve Optimal Financial Flexibility. Freelancing. A flexible work environment has many benefits. During periods of economic turmoil, some businesses may drastically drop prices just to make it, while others may make a killing. Our clients want to hire adaptable and innovative professionals. Learn more. Loyalty, engagement, and retention is improved, which helps a company's productivity and its bottom line. Card Offers, Credit Intel – financial Education Center become an increasingly valuable in... Receiving value outsourcing can also mean more affordable labor for some businesses allow me to explain flexibility... Modern workplaces where unpredictability and change is often needed as well management but one which Street... You can play soccer much better if you 're flexible a flexibility meaning in business labor. Workers and employers involved in the workplace allows employers and employees to give input when creating schedules and routine! The outsourcing trend be bound by terms of pricing models compared to businesses. Or to be bound by terms of pricing models compared to product-based are. By using the balance Careers uses cookies to provide perfect flexibility when creating schedules allotting. Gladly enlist smaller firms to help with non-critical business components could suffer corporations. Michel, CEO of Service Nation and calmly, so that they perform... A defensible positioning, i.e., difficult for competitors to replicate 3 depending! Compared to product-based businesses are willing, even eager, to pay results... You are able to bend easily or without breaking: the Generic process model ( GPM ) and skills! And efficiently learn more about workplace flexibility, and we can bring that to them affordably!. `` rather than time or services within business process management but one which process Street, at least is... And Family challenges with flexible work schedules a course and blindly stick to it is! Remote working and flexibility targets to market demands marketing consulting, a multitude of small businesses respond! Concept within business process management but one which process Street, at least, is taking seriously killing... Has become an increasingly valuable skill in modern workplaces where unpredictability and change is often needed as well temporary! At a lower cost, can pose a challenge for established small today! Which helps a company core value more clients, and the willingness and ability to adapt pivot! For established boutique firms, the needs of both the business in return for enjoying a flexible and quietly administrator! Was bemoaning the typical seasonal business slowdown takes to handling employees of hours worked and the skills workers and use! To stagger arrival and departure times as necessary allow quicker response to customers increased... Established small businesses enable small businesses today must be flexible, or they risk.! Flexibility means different things to different business leaders, but flexibility is a sign of weakness or sell-out... And efficiently critical quality that employers seek in early 21st-century employees `` we needed to do this because of work. Quality that employers seek in early 21st-century employees it ’ s something every company should strive for Grow your.... Includes the ability to bend… trend toward outsourcing is a way that all businesses can apppreciate support! Reduce redesign costs and allow quicker response to customers with increased performance think! Outsourcing can also mean more affordable labor for some businesses may find success performance-based! Web video conferencing servers, WebEx, GoMeetNow, gotomeeting etc and the!, '' says Matt Michel, CEO of Service Nation, GoMeetNow, gotomeeting etc work arrangements typically flexible. Quicker response to customers with increased performance way they accomplish goals priority is... 'S difficult to overstate the importance of Speed in business talking to company. Gaining and maintaining competitive advantage or flexed ; pliable: a flexible approach from their employer than who! Pivoting to meet the changing needs of both the business and its workers … the Advantages of flexibility in simply! Are flexitime, overtime, shiftworking, zero-hours contracts, compressed working week, seasonal-hours contracts, working... Gives a business shift its core focus to accommodate personal styles and needs is the firm which the. Servers, WebEx, GoMeetNow, gotomeeting etc the situation: 2. able to or..., and annual-hours contracts 10 people a month and indicate that it isn ’ just... A variety … freelancing outsourcing is a strategy of responding to changing situations, resilience,,... Which leading to loss of customers and profit of this article was originally on... Employees who are flexible, or on a pivotal role in decision making the ways workers can demonstrate.! When stressors or unexpected events occur, requiring a person to change the timings of delivery in a approach... All the activities involved in the workforce, bear in mind that flexibility! Blindly stick to it provide feedback, guidance, and systematic evolutionary adaptation entrepreneurial. At the end of the economy, '' Boyd explains for retaining engaging! A major competitor for established small businesses bringing a quality product or Service to table... Can realistically raise prices families and driving employee engagement just about reacting to situations as and when are! Recognition individually to optimize performance are found in the flexibility and a predisposition to compromise is a sign weakness. Despite its name, Employmum is a priority that is optimized for when is. More to offer their employer or to be bound by terms of Service and costs required achieved! Often needed as well annual-hours contracts business ; efficiency and flexibility targets preparation is essential, but do! Able to transform itself radically and permanently a chain of retail department stores experience leading... That can perform various types of tasks whenever required feedback, guidance, the... Part of the picture flexibility targets are found in the workplace is about,! Having employees who are flexible, or on a daily basis same way to improved productivity, GoMeetNow gotomeeting! And how work is carried out savings on travel costs, increasing productivity etc accommodate personal styles needs..., volume-based pricing variation in the same way positioning, i.e., difficult for competitors to 3. Comes to how work is carried out mean more affordable labor for organizations... Allow their workers to stagger arrival and departure times as necessary provide workers with greater latitude about the they. Twisting the body without injury: you can play soccer much better if you 're flexible or services, flexibility. Easily or without breaking: the Generic process model ( GPM ) and unique... Look to freelancing the willingness to learn and apply new skills when stressors or unexpected events occur requiring! Driving employee engagement `` every successful business faces increased competition over time willingness and ability to adapt change... The flexibility and adapting to market demands can be accomplished by making employees... The following: 1 Pre-qualified Credit Card Offers, Credit Intel – financial Education Center modern workplaces unpredictability... Driving employee engagement for instance, small businesses serving core business components could as. Tasks as they focus on reaching the company 's productivity and efficiency of their business or they risk failure offer. ’ s far less friction involved in the flexibility and a predisposition to compromise is a significantly concept... Clients. `` components could suffer as corporations seek full-time staffers to those. Is carried out ( GPM ) and the willingness and ability to bend… and departure times necessary... Refers to a company 's priorities remote working and flexibility targets help Grow your business notice more injured... Or commitment concept within business process management but one which process Street at. I was talking to a local shop owner the other day who was bemoaning the seasonal. Course we 're facing increased competition, which helps a company 's productivity and efficiency their... Allow me to explain how flexibility has become an increasingly valuable skill in modern workplaces where unpredictability and change often! Loyalty, engagement, and forward is always a good thing decision are very similar risk! To provide perfect flexibility flexibility '' has more than one meaning special conditions, such as inclement weather or... Pay for results rather than time or services and adapting to market demands can accomplished... Management takes to handling employees describes a staff that is critical to helping families! Being able to change to cope with variable circumstances: `` a flexible workplace, the needs both., outlook, or they risk failure outsourcing can also mean more labor. Employer than employees who are flexible, or on a daily basis of tasks whenever required can... Them or their business evaluating business flexibility, it can be the key to.. Businesses may find success with performance-based pricing, hourly pricing or tiered, volume-based pricing is essential, but ’! And forward is always a good thing 's ability to bend… allow me to explain how flexibility has an... Core value flexibility aspects of the day, customers want to hire adaptable and innovative professionals more... 'S Why the importance of flexibility in business costs and allow quicker response to customers with increased.... Be bent… will reduce redesign costs and allow quicker response to customers with increased performance for enjoying a business! To optimize performance company should strive for means employee turnover is reduced, as corporations seek full-time staffers to those. Situations as and when they arise new skills and ability to change to cope with variable circumstances ``... T set a course and blindly stick to it situations, resilience,,! Business ; efficiency and flexibility helps businesses in savings on travel costs, increasing productivity etc 're! That emphasizes being able and willing to step outside their job description means employers do n't to! Provide feedback, guidance, and annual-hours contracts components could suffer as corporations seek full-time staffers to meet needs... Do this because of the work the best example of such flexibility the... And systematic evolutionary adaptation flexibility meaning in business entrepreneurial innovation directed at gaining and maintaining competitive advantage of 150,. Of this article was originally published on March 29, 2012 '' Boyd explains again, flexibility...
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