Flexi Wrk Options Final

7/31/2019 Flexi Wrk Options Final

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Group Members

Girish Gopi 8044

Jacqueline Gonsalves 8042

Marilyn Gonsalves 8043


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Introduction It is very difficult to maintain balance

between the personal life and the work

life of people.The women employees suffer more

than the men employees.

They need to look after their familymembers and at the same time they

need to carry out their work properly


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When the employee is under stress it affects

the workThe family problems leads to tension which

may lead to misbehavior and conflict among

the employees.Many companies are providing flexible work

time to solve this problem and to enhance the

quality of their work


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Examples

Federal Technologies is a leading playerin the software development industry

with more than 800 people across the

nation.They introduced a new concept of FWO

Bajaj Auto also provides its employee the

facility of telecommunication, whichhelps to balance between personal life

and work life.


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HP India introduced a new concept

of working part-time after maternitywhich helps the women employees

to take care of their children

Some other FWO are part time jobs,job sharing, partial retirement

scheme, reduced work life, leave

option etc.


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SWOT Analysis

Strengths

Employee satisfaction

Increased morale

Makes employees more committed

towards work.

Low employee turn over

Less absenteeism.


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Good coordination and smooth

transfer of work.

Good atmosphere

Achievement of organizationalgoal

Retention of talented employees


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Weakness

Chance of conflict amongworkers

Difficulty in decentralizationSalary sharing

Non corporation

Difficulty in introduction ofmotivational technique


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Case Study

Company: First Tennessee Bank (FTB)

Profile: A Financial services company,FTB is based in Memphis, Tennessee,

and has approximately 8,000 employees.

The company has 259 banking sites inTennessee, Mississippi, and Arkansas

and 150 mortgage banking offices in 28states


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Challenge: Costs & customercomplaints associated with

employee turnover

Solution: Implementation of

flexible work schedules &part-time work options withbenefits


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Policy Parameters

FTB removed company-wide writtenattendance policies and shiftedresponsibility for decisions aboutattendance and scheduling to employees& managers in individual branches

Part-time work options were created for

employees


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Parameters

FTB created a task force called theParenting Task Force that identified

problems in work schedules andattendance policies for employees

Training from the HR department to allthe managers to face work-life

challenges


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Developments

5 years after the policy changes, more than60% of employees used flexibility options &the bank reported saving over $3 million inturnover costs

Customer retention at FTB was 96% while

the industry average was 87%


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Developments

The accounts-reconcilement departmentshortened the amount of time it takes toreconcile accounts from 8 days to 4days resulting in a 50% leap in customerresponse

Part-time work option initiative saved

85% turnover of people who would haveotherwise left the bank


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Conclusion

By providing FWO the employees canbalanced their work life and personnel life,which help them to reduce their stress and it

makes them more productive which helps theorganization to achieve their goal

Documents

Flexi Wrk Options Final