Lack of flexible working options is costing London SMEs up to £18,600 every year in rent

By not offering their staff any flexible working options, London’s SMEs are wasting up to £18,600 every year in rent, a recent research report from conference call provider PowWowNow has been able to suggest.

Figures published in the report suggest that by allowing just 1 in 5 of their workforce to work remotely, London based SMEs could save on average £1,544 a month in rent by revaluating their office space requirements. Those willing to implement flexible working for up to 30% of their employees could save more than £2,370 per month.

With figures from the Department for Business, Energy and Industrial Strategy indicating that there are over 16,455 small and medium-sized business now based in the capital, these potential savings amount to a combined total of over £306 million a year.

The study also revealed that companies in the Finance and Insurance industries based in London stand to make the highest savings; with SMEs in these sectors poised to save an astounding £27,970 a year by allowing just 20% of their workforce to work remotely and rethinking their space requirements.

Meanwhile, businesses in the East of England stand to save on average £444 per month, equating to a significant £5,328 a year. While office-based employers in the North East stand to save £430 per month by allowing 20% of their employees work remotely and almost £650 a month if they allow 30% of their employees to work remotely.

Elsewhere, in the South East business owners stand to save upwards of £7,100 a year by allowing 20% of their staff to work remotely; compared to the potential savings of £4,440 a Welsh business owner could be saving per annum.

TIME AND ATTENDANCE UK SYSTEM OFFERS EXTENSIVE OPTIONS FOR THE MANAGEMENT OF FLEXIBLE WORKING HOURS

Time and Attendance UK supplies an extensive range of workforce management solutions that cater for all the requirements of the modern workplace, including features which will help employers feel more confident about implementing a flexible working pattern.

The system can supply working rules for a variety of purposes, from simple determination of overtime by the number of daily hours worked, to the more complex payment of overtime hours adjusted when periodic targets are not met. The system also contains special rules to accommodate the formal flexitime contracts worked by many public sector employees. Workers paid on an annual contract basis can receive reports stating how many contracted hours they have yet to work.

Additionally, our top-range WinTA suite features an On-line Self Service module that allows staff to clock IN or OUT, check hours, request holiday leave + other functions via internet, mobile or other communications.

If you’d like to find out more about how we can help your company implement thorough and reliable flexible working arrangements, just contact us or Book a Demo.