Employees rank flexible working above bonuses
Flexible working is the most valued benefit for employees ahead of financial benefits such as bonuses, according to a new survey.
Accountancy powerhouse, PricewaterhouseCoopers (PwC) found that flexible working was given fairly equal priority by men and women, with 41% and 54% respectively ranking this benefit as the most valuable. Moreover a better work-life balance was seen as more achievable in the long term by 42% of respondents than vastly increased responsibility and salary (39%). The survey also found that 50% of employees would rather be self-employed.
Michael Rendell, head of human resource services at PWC said: “Two years of recession have changed people’s attitude towards work. With companies mindful of taking on new employees, existing staff have been expected to do more with less. Our survey indicates that employees may be feeling the pressure, with large numbers hoping for a better work- life balance in the future, and half saying they would rather work for themselves.
“With bonuses unpredictable in uncertain economic conditions, employees are looking for broader benefits.
"Companies that can adapt to the UK’s growing flexible working culture will be best placed to sustain morale and retain top talent when the job market becomes more buoyant.”
The survey also found that a good company pension plan was the prime perk for 15% of respondents, making it the third most popular benefit. Benefits of less significance were paid time off to do social/humanitarian work (7%), exposure to advanced networking/social activities; and paid training and development (both at 6%).
Other interesting findings include how UK professionals imagine their future working lives. More people picture themselves working in a virtual place, where employees log on from any location, than from centralised hubs in major city centres, said the report. Surprisingly, it is the 16-25 year old bracket alone where a majority imagine an ‘office block’ in a city centre as their future workplace.
In the recent Queen’s Speech the government promised to extend the right to request flexible working to all employees.
A total of 1,167 employees were quizzed as part of the survey.
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