Egyptian senior executive and business owners have affirmed that flexible working conditions are the main incentive towards accepting a job offer, a survey conducted by Regus-a global workplace provider-illustrated.
The study explained that 70% of respondents said they would choose one job over a similar one if it offered flexible working conditions.
The survey added that 61% confirmed that flexible working conditions improve staff retention.
“Recruitment is an expensive process that many global businesses are keen to reduce. It’s cheaper to keep your employees than to lose them,” Regus report indicated. It added that a newly hired employee would achieve around 60% of the output produced by an existing employee during the first three months.
The survey also stated that it would take at least six months for a newly hired employee to start adding value to the company.
The survey pointed out that 58% of respondents said that offering flexible working conditions makes employees more loyal, while 55% stated that they would have stayed longer in their job if they were offering flexible working conditions.
The research also found that 48% of employees would turn down a job if it ruled out such practices.
“Hiring and retaining top talent is an age-old priority for successful businesses, but not all companies can afford to offer golden bonuses or mouth-watering salaries while remaining competitive,” commented Regus’s director for North and West Africa Thierry Vernet.
“Stemming churn is also vital to avoid incurring recruitment agency costs and the inconvenience of starting the hiring process,” Vernet added.
Vernet explained that flexible work has a lower cost than fixed office work, something that allows for lower stress and better working. He added that it provides a life balance to existing and potential employees as well as offering solutions to attract and retain top workers.