Employees want flexible working more than bonuses

News Article - 13 July 2010
Category: Business

According to a recent study by professional services firm PricewaterhouseCoopers, flexible working is more important to staff than more traditional benefits such as performance-related bonuses. Flexible working was rated as the most important benefit by 47% of respondents, whilst bonuses came in second with 19%.

Both men and women gave equal priority to flexible working, with 41% and 54% respectively ranking it the most valuable benefit. If flexible working is embraced it is likely to take the form of shared parental leave for working parents. A better work-life balance was also highlighted as an important priority and more achievable in the long term (42%) than vastly increased responsibility and salary (39%).

Flexible working and lifestyle benefits have become more important to employees during the economic downturn and in the post-recession climate. Unpredictable bonus patterns due to financial uncertainty have led staff to pursue more tangible benefits that will provide long-term lifestyle stability rather than acute financial gain.

Now that the economic climate is improving, research has shown unhappy employees are unlikely to stick around at companies that do not meet personal needs. Rather than simply be happy to hold a position, it is likely they will jump ship to another organisation if significant job dissatisfaction is experienced. Businesses must keep this in mind as increased recruitment costs may drive down ability to compete in post-recession markets.

Access HR software allows companies to build up a profile of individual staff needs and effectively feed these into development policies. The learning and development module provides powerful options to workers, allowing them to engage in their personal development. With the ability to track and update training requirements, as well as provide details on short- and long-term career goals, staff can provide the detail necessary for companies to drive efficient development programmes that meet individual needs.

This helps ensure the long-term happiness of staff, which yields a number of strategic benefits. Not only will the company be more likely to retain and nurture skilled workers but it will also be more able to recruit key talent due to improved reputation.

For more information, please call Access on 0845 345 3300.

Article keywords: hr software, business solutions, flexible working, business software, the access group, access

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