Companies are losing out on experienced talent due to a need for full-time continuity
“We have only just had a decision and unfortunately they said no. I’m disappointed but have decided to hand in my resignation. I don't want to commit to more hours as I have a very young family"
This is a quote from yet another candidate I was approached by today who has been forced to resign her management position because she needed to reduce her hours, but her employer was unable to support the request.
In a world where we are staying older for longer, valuing time over material things and having children later in our careers, sticking with an employment model that only works for the small window of time between finishing basic education and being faced with any other life experience, is hugely limiting exposure to experienced talent pools.
If an employee has a baby, needs to look after a family member on a long-term basis, falls ill or is recovering from a serious illness, or even has decided they want to better their work life balance ... should it mean that they have to leave your company? Or that the skills and experience they have gained with you should no longer be accessible to you? Their change in circumstance may not mean that they want to leave your company, in fact they could be very happy working for you but just can’t manage full-time any longer.
Enabling part-time, whilst retaining full-time continuity is key
It’s understandable that you might be reluctant to reduce hours of a managerial role that needs full-time continuity, because the reality is that part-time simply isn’t always viable, especially at more senior levels. This is where Job-sharing comes into its own, there are no continuity compromises, in fact quite the opposite because with Job-sharing, the full-time job is shared and delivered by a partnership working as a single unit. Splitting their time in chunks throughout the week, the partnership share ownership of providing a full-time continuous service, often working either the first or last half of the week, over-lapping hours to hand over and communicating on a regular basis.
A Talent Partnerships approach is a win-win for employer and employee
There are many ancillary benefits of successful Job-sharing to a business like the fact that Job-sharers are more productive because they are accountable to each other and have more energy because their days off really are days off. They also make brave decisions faster, self-coach and often bounce off each other creatively, leading to more innovative and collaborative thinking.
Improved Business Continuity
On a practical note, as well as ensuring continuity throughout the week through their Handover and communication plan, partners can arrange to take holidays at different times, offering year-round continuity as well as the skills, experience and background of two people in one proposition.
Reduced Replacement Cost
Successful Job-sharing improves attraction, retention and progression opportunities for women in particular (although not exclusively). It’s widely published that 30% of employee departures are due to work-life balance and the true cost of replacing a staff member averages at just over £30,000 (with accountancy/ legal sectors bearing the highest costs) Offering the option to partner up and create a full-time proposition together creates new opportunities which reduce the potential for departure or lack of progression due to a work-life balance trade-off, saving crucial budget on the recruitment and re-training of new employees, which can be redirected to the bottom line.
Improved Diversity = improved financial performance
Improving employment options in support of diverse lifestyles increases gender diversity of teams and it's widely acknowledged that Gender-diverse companies are 15% more likely to achieve financial returns above their industry average. In the UK, for every 10% increase in gender diversity on the senior executive team, financial performance has been shown to rise by 3.5% (McKinsey & Co 2015).
A study carried out in the US by a Retail company reported that when Job-sharing and flexible working strategies were implemented “voluntary turnover rates reduced by 90% and productivity increased by 41%. People were happier and healthier too.” These findings are consistent with a separate study by the Society for Human Resource Management (SHRM), which found that 89% of HR professionals reported an increase in employee retention, simply by launching the implementation of flexible work arrangements.
So there you have it, Job-sharing should be a key flexible working option simply because it’s commercially advantageous. It’s not a compromise or a favour, but offers significant business benefits that crucially translate into greater financial returns.
Use our calculator to see how much it costs you to replace employees that are forced to leave due to work-life balance, so you can quantify the benefit of a Job share scheme. If you would like help to get started, contact us about becoming an Employer Ambassador on Ginibee.
Sara is the founder and CEO of Ginibee and a proud mum of two legends. Absolutely passionate about making successful Job sharing accessible, Sara set Ginibee up with the sole mission of "making successful Job sharing accessible" and has specialised in optimising and similifying the process to create successful Job shares since 2013 and in doing so has created a unique into a purpose-built platform, to accelerate the creation of Talent Partnerships.