Definition: Arrangements that allow employees to have a more variable schedule
as opposed to complying with the standard 8-hour workday
The days when all jobs consisted of 40 work hours spent in
eight-hour chunks Monday through Friday are over. Today, an
increasing number of employees work flexible schedules from a
variety of locations and even share jobs. Employees like these
arrangements, and they can be advantageous for the right
entrepreneur as well. Here are some of the most notable flexible
work arrangements and the key characteristics of each:
Flextime is the most popular flexible work option with
both employers and employees. It lets employees set their own
starting and quitting times within limits determined by
management.
Job-sharing lets two people share the responsibilities of
one full-time position. It's basically a form of part-time work
that provides you with the equivalent of one full-time employee
while giving the job-sharing employees the ability to keep their
careers on track while allowing more time for family
responsibilities or other activities.
Compressed workweek arrangements let employees work 40
hours in fewer than five days. Most commonly, this means four
10-hour days each week. Advantages to employees include an extra
day off and lower commuting costs per week. Many employers report
higher productivity from employees working compressed
workweeks.
Telecommuting employees work from home during some of
their scheduled hours. Telecommuters often come into the office one
or two days each week. This lets them go to meetings and stay in
touch with co-workers.