For an employee, it’s hard to choose between a job that has a great company culture and values along with flexible working arrangements, and one that offers a better salary and benefits.
No doubt, both are important for an employee as they think about their careers. But a positive workplace culture or only flexible working isn’t a match for a better salary.
According to a recent study, 1.000 workers across the UK and Ireland were surveyed and 34% of employees ranked a better salary package and annual benefits as the most important aspect when looking for a new job! You can see more detailed information about the full results of that study here.
Why are better salaries and benefits packages a priority for employees?
With the current cost-of-living crisis in the UK at an all-time high, employees will strive to do everything they can to earn as much as money possible to provide for their families. This may mean some employees will work really long hours to earn overtime.
A latest study revealed that 11% of UK employees were working long hours, which can be classified as over 48 hours a week. ‘Manual working’ occupations were revealed to be the ones where paid overtime was provided most frequently.
Paying remote workers in the UK at a fair price is clearly needed to restore a good relationship between employees and employers at a time when union strikes and other employee protests are becoming more common.
Operative and assembly workers, managers and professionals were revealed to be the occupations most likely to work longer hours than most. Of women who had worked longer hours, 23% were in managerial occupations and 40% were in professional occupations.
The main reason why people worked where overtime was offered was to receive more pay, followed by wanting to meet the requirements set out in the job description.
Why is flexible working integral for employees?
14% of respondents from the UK and Ireland survey revealed that when it comes to looking for a new role, they value flexible/ remote working to be the most important aspect.
The COVID-19 pandemic would have contributed to that as it would lead to people striving to maintain that work-life balance during those troubling times, especially at the height of the pandemic.
55% of employees believed that remote working doesn’t harm company culture, although nearly 31% declared remote working was close to damaging workplace relationships. 26.2% of employees believed the pandemic had a positive effect on improving their company’s culture.
In another study, it had already predicted that the most obvious impact that the pandemic would have would be an increase in remote working. Approximately, between 20% and 25% of workforces in advanced economies could remotely work between three and five days a week. That represented an increase of nearly four to five times more remote work before the pandemic!
Conclusion
This shift in attitude towards flexible working and company culture suggests that employers still need to rethink their benefits packages and ensure that they are appropriate for post-pandemic working life.
Employers should also think about how they can improve their company culture so that it is more attractive to potential employees. But one thing is for sure, a positive workplace culture alone is no longer enough to attract and retain the best talent, and companies need to ensure that they always pay their employees for what they are worth.