business
1. Identify 2 examples of flexible working practices used by First Direct. 2.
One example is ‘mushrooming’; this is the reliance based on employed workers who work night shifts, flexible in terms of rotas and time flexibility approaches. A second example is its high proportion of part time workers, also flexible in terms of time and is beneficial to the business itself when needing a certain amount of workers they only pay those needed for that particular shift; no wage costs are then wasted.
2. Analyse 2 possible benefits for a business such as First Direct of creating a more flexible workforce. 8.
First Direct is one of the UK’s leading commercial banks. By creating a more flexible workforce, it could be beneficial in terms of motivation. The employees have appeared to approve of the companys approach to flexible working and have resulted in high rates of staff retention so far. Therefore this suggests that if the workforce were made more flexible, in moderation, it would create a more responsive organisation and the motivation of staff would rise and consequently produce more efficient results.
A second benefit for First Direct of creating a more flexible workforce is that it allows the firm to stand out of the market from other UK banks. By adopting such a contentious flexible operation it has required the business to develop a working culture that is very different from the traditional model. In this case standing out in the market is beneficial and has gained First Direct a high level of customer retention. Therefore creating a more flexible workforce is beneficial to them as part of the UK bank market.
3. To what extent is the creation of a more flexible workforce crucial to the continuing success of a company such as First Direct? 10.
When creating a flexible workforce there are three main aspects; functional, numerical and time; all which vary in the benefits to the business depending on the type of market it is in and how it operates.
As a
One example is ‘mushrooming’; this is the reliance based on employed workers who work night shifts, flexible in terms of rotas and time flexibility approaches. A second example is its high proportion of part time workers, also flexible in terms of time and is beneficial to the business itself when needing a certain amount of workers they only pay those needed for that particular shift; no wage costs are then wasted.
2. Analyse 2 possible benefits for a business such as First Direct of creating a more flexible workforce. 8.
First Direct is one of the UK’s leading commercial banks. By creating a more flexible workforce, it could be beneficial in terms of motivation. The employees have appeared to approve of the companys approach to flexible working and have resulted in high rates of staff retention so far. Therefore this suggests that if the workforce were made more flexible, in moderation, it would create a more responsive organisation and the motivation of staff would rise and consequently produce more efficient results.
A second benefit for First Direct of creating a more flexible workforce is that it allows the firm to stand out of the market from other UK banks. By adopting such a contentious flexible operation it has required the business to develop a working culture that is very different from the traditional model. In this case standing out in the market is beneficial and has gained First Direct a high level of customer retention. Therefore creating a more flexible workforce is beneficial to them as part of the UK bank market.
3. To what extent is the creation of a more flexible workforce crucial to the continuing success of a company such as First Direct? 10.
When creating a flexible workforce there are three main aspects; functional, numerical and time; all which vary in the benefits to the business depending on the type of market it is in and how it operates.
As a