Each year, the Optimas Awards are given by Workforce Management to recognize initiatives that achieve business results for the organization. One company that has succeeded by thinking outside of the box is Best Buy.
Last year, the procurement department in Best Buy’s corporate headquarters increased their savings by decreasing their expenses. This initiative was titled ROWE, or Results-Only Work Environment. With ROWE, salaried employees set their own hours and generally decided on how, when and where they get their jobs done. Hourly employees in the program have to work their minimum hours required by federal law, but they get to choose when they do it. Surprisingly, this flexible work arrangement didn’t change the way the teams were managed.
The results have been impressive thus far, with decreased turnover and employee improved productivity. Overall, ROWE teams say they feel 35 percent more productive. The procurement team backs this up by reporting a 45 percent productivity jump from the previous year.
The results-only approach deserves recognition as a major advance in work/life balance for employees and could be replicated at many other companies. At least Best Buy believes so. In 2005 they launched a subsidiary, CultureRX, which has been in conversations with seven Fortune 100 companies as well as smaller businesses to help them initiate similar programs.