Flextime is the practice of letting employees have some control over their working hours. The flexible periods are at either end of the working day, usually with mandatory "core hours" in the middle (eg. 11am-2pm).
Some variations of flextime are:
- Fixed hours set by the employee for a given period
- Flexible start times as long as they work 8 hours a day
- Flexible start and end times as long as they work 40 hours a week
- Complete flexibility as long as they work 40 hours a week
Studies show that companies with a flextime policy have:
- less lateness and absenteeism
- lower staff turnover (and therefore, less recruitment costs)
- higher employee morale
- higher commitment to the company
- better job satisfaction
- better customer satisfaction
- a greater capacity to meet deadlines
See also: FlexTimeAndXp