Flexible working with better engagement

Co-workers smiling around a screen

Is the insurance industry behind the times on the latest policies?

Flexible working with better engagement: Old business men sitting on a bench

One of the biggest conversations taking place around the workforce is flexible working and its impact on engagement. Flexible working has impacted every business sector in major ways, so much so that 84% of managers said their firms had adopted hybrid working. In the insurance industry, it’s even higher,

89% plan to offer a hybrid work model and 45% plan to provide fully remote options”.

You might find yourself asking: What is it? Why is it so important? How does it affect the insurance sector? And what are its challenges? In this post, we are going to give you all the answers to these very important questions and more as we dive into this post-Covid program.

 

What is flexible working?

Flexible working is the name given to any type of working pattern which is different from your existing one.

Flexible working arrangements might include:

  • Changing from full-time to part-time work
  • Changing working hours to fit in with, for example, school hours, college hours, or care arrangements
  • Compressed hours, that is, working your usual hours in fewer days
  • Working from home or remotely for part or full time
  • Job sharing
  • Staggered hours, which allow you to start and finish your days at different times
  • Time off in lieu
  • Annualised hours, where your working time is organised around the number of hours to be worked over a year rather than over a week
  • Term-time work, so you don’t work during the school holidays

Although this concept is pleasant and practical, it doesn’t present any level of importance. This is especially the case for the insurance sector.

 

Why is flexible working important?

It’s simple, flexible working leads to better engagement!

Happier Employees + Optimised Working Environment = Better Engagement

Whilst the current stigma from the insurance sector shows a lack of trust in employees still getting work done and continuing to replicate levels of productivity, this isn’t the case. “84% said they are as productive or even more productive compared to a year ago – higher than the global average of 81”.

Employees using flexible working options experience fewer office distractions, are less likely to be absent, and stay with a company longer. Employees are also happier and have reported an improvement in mental health because of the switch to flexible working: “39 percent of those who worked flexibly had benefited from better mental health.”. This is incredibly important for the insurance sector who looks to get the most out of its employees: “Happiness made people around 12% more productive”

The positives don’t just stop there either. Employers adopting flexible working experience lower costs, an improved brand image, and gain access to a greater pool of talent as they aren’t restricted to local candidates.

Take a look at our tips for working from home!

 

How does flexible working affect the insurance sector?

“In terms of acquiring and retaining insurance talent, we’re in the most competitive environment many of us have ever experienced,”

“New roles and opportunities are emerging, job openings are near an all-time high, and retirements are accelerating. As insurance leaders evaluate their talent strategies, flexibility in all areas is essential for long-term success.said the co-chief executive officer of The Jacobson Group.

The insurance industry needs to look at holding on to its employees. Top executives know there is a shortage of staff and the business perception is poor. By building existing employee satisfaction with flexible working policies the insurance industry can improve perception, improve new staff acquisition, and improve current staff productivity all whilst reducing costs. It’s a win for every member involved with very few adjustments needed to become effective.

 

What are the challenges of flexible working?

The major three challenges the entire insurance industry will face when providing flexible working and engagement solutions for employees will be:

  1. Tech issues leading to lower productivity
  2. Cyber security risks
  3. Implementation without support

How do you navigate these challenges to achieve successful results?

Support Tree! Using our IT services you can be guaranteed successful solutions to these challenges and more. Not to mention our customer service and client care are second to none, just ask one of our clients (especially those located in the insurance industry) about working with us. We provide a free IT and cyber audit to ensure your business needs are met.

Flexible working with better engagement: Two supportive co-workers

Choose Support Tree for your cyber and technology needs!

enquiries@supporttree.co.uk / call 0207 260 2680