Yes. Workplace flexibility is no longer just an employee accommodation; it is a key management strategy that can positively affect employee performance and can improve an organization's financial performance.

"Workplace flexibility" can take on many forms. Every organization will likely define it differently and will implement it to varying degrees. "Workplace Flexibility 2010," an initiative based at Georgetown University Law Center, defines workplace flexibility as the ability to:

• have flexibility in the scheduling of full-time hours--e.g., a range of flexible work arrangements, including flextime and compressed work weeks;
• have career flexibility with multiple points for entry, exit and reentry into the workforce--e.g., extended time off and career on- and off-ramps;
• have flexibility in the number of hours worked--e.g., reduced hours, such as part-time or part-year; and
• address unexpected and ongoing personal and family needs--e.g., short-term time off and episodic time off.

1. The Initiative points out that there is a profound mismatch between the needs and priorities of working families and the way that work is organized into full-time, full-year arrangements, often with no opportunities for time off.

A study released in November of 2005 by the Corporate Voices for Working Families revealed that across different companies, industries, geographies and levels within an organization, effective flex programs were found to increase employee commitment, impact employee satisfaction, and reduce stress, which in turn has a direct impact on an organization's financial performance. Additionally, flexibility was shown to have positive effects on productivity, cycle time, customer retention and response time.

The positive impacts of flexibility can include:

1. Talent management. Organizational research presents compelling evidence of the positive impact of flexibility on talent management, especially retention of key talent. Many organizations believe that flexibility has saved them millions of dollars in prevented turnover.
2. Human capital outcomes. Individuals who have even a small measure of flexibility in when and where work gets done tend to have greater job satisfaction, stronger commitment to the job, and higher levels of engagement with the organization, as well as significantly lower levels of stress. These outcomes often translate into innovation, quality, customer retention and shareholder value.
3. Financial performance, operational and business outcomes. Flexibility tends to be a driver of financial performance and productivity and is often correlated to increased revenue generation and stock price, as well as a positive impact on client service.
4. Salaried versus hourly employees. The effects of flexibility on hourly and salaried employees are almost identical in that commitment is higher and burnout is lower for employees with access to flexibility compared to other employees.
5. Informal or real-time flexibility. Informal or real-time flexibility can have a strong impact on retention and human capital outcomes. Real-time flexibility is a powerful way to leverage the positive benefits of flexibility over a broader range of employees and allows the business to more readily respond to changing circumstances or customer needs.

Given the positive outcomes that result from flexibility in the workplace and the fact that increased flexibility is desired by so many workers, as a management strategy it makes sense for organizations to reevaluate the flexibility options they provide.