WHY EMLOYMENT FLEXIBILITY?
In highly competitive environments, organisations must be able to respond quickly and effectively to changes in economic & market circumstances. One of the keys for rapid reaction to business needs is Employment Flexibility. In this blog we shall discuss forms of employment flexibilities and when to use them.
Functional flexibility
It is multiskilling concept, employees to carry out more activities than before, specialisation of roles is reduced & management can move employees from one task to another as the need arises.
Numerical flexibility
It is the ability to expand or reduce the labour force quickly as the need arises. This enables rapid response to changes in business and allows rapid shedding of costly staff, use of part time employees & outsourcing activities
Temporal flexibility
This includes flexitime arrangements where the working days can be varied within limits, working shifts, contract hours. All are varied according to circumstances.
Wage flexibility
This allows the organisation freedom to vary the pay employees in ways which best allow it to meet its objectives. For example, linking pay to individual performance, might act as an incentive to greater effort
