A Third of Employees Prefer Flexible Working Hours To A Pay Rise
Research has revealed that 34% of employees would prefer flexible working hours over a pay rise if given the choice.
The research, part of the Investors in People’s Job Exodus Trends poll, asked participants to choose between a two options – flexible working hours or a 3% pay rise.
Other scenarios employees said they would like to see in the working environment included a clearer career progression route and the option to embark on more training and development to further their skills.
The survey also found that 48% of UK employees are actively looking for new jobs. The reason for this is because workers are no longer satisfied in their current roles, listing poor management as the primary reason for this. Other factors included employees not feeling valued, and a feeling of being underpaid.
19% of employees complained of a heavy workload, whilst 23% showed concern for a lack of career progression. Pay rises and current pay was also a concern, whilst the majority of younger workers were worried about progressing in their careers with 26% of 18 to 24-year-olds stating they felt there was no clear career progression route available.
A Changing Landscape
Head of Investors in People Paul Devoy said: “Improved salaries over recent months mean that pay has become less of a gripe for UK employees. But longstanding issues around poor management and how valued people feel at work continue to make UK workers miserable.”
He added that poor leadership is costing the UK economy £39 billion a year and said firms that address these issues are more likely to find success. Mr Devoy said such actions would create a more committed workforce and reduce the level of resources needed for continuous recruitment drives.
A failure to act could see employers at risk of losing their most valuable and skilled staff, he added.
The key for employers therefore is to focus on the small things that may influence an employee’s way of thinking. Making them feel valued can help to reduce some of the concerns they may have while involving employees in decisions and providing them with greater responsibility should mean staff are happier and more likely to stay.
This has benefits for the employer too, as the workforce is more committed and staff retention rates should be higher.
If you’re an employee that’s looking to tap in to the graduate talent pool, have an informal chat with Discovery Graduates today.