Flexibility rules among employee benefits
Kiwi job seekers and employees are prioritising flexible working hours over any other benefits companies may be offering, according to a new report. In Frog Recruitment’s 2022 Employment and Salary Trend report more than 1,000 job seekers and employees were asked what matters most to them in terms of salary packages, flexibility, learning and development […]
Kiwi job seekers and employees are prioritising flexible working hours over any other benefits companies may be offering, according to a new report.
In Frog Recruitment’s 2022 Employment and Salary Trend report more than 1,000 job seekers and employees were asked what matters most to them in terms of salary packages, flexibility, learning and development and other benefits like bonuses.
The results were equally in favour of flexible work hours and the ability to work remotely , while career development and training, bonuses and company-paid training rounded out the top five.
Frog Recruitment 2022 Employment and Salary Trends Report:
Top Ten employee benefits
1. Flexible work hours 73%
2. Ability to work remotely 73%
3. Career development and training 68%
4. Bonuses 62%
5. Company paid training 58%
6. Connectivity allowance 45%
7. Car park 45%
8. Wellbeing and support programmes 43%
9. Overtime payments 43%
10. Healthcare subsidies 40%
The results are no surprise to Frog managing director, Shannon Barlow (pictured below). “Most employers have started highlighting flexibility in their job advertisements and we are seeing that work hours and location are the top two considerations for job seekers. While having flexi-work-hours and remote work were equal, the reality is that people want both – the ability to work their eight hours from home in chunks that can work in with their home life. For example, a day might span from 7am to 7pm but include breaks for doing the grocery shop, watching the kids’ sports game and walking the dog. We call it ‘life-work balance’ over ‘work-life balance.”
Barlow suggests employers set fair perimeters to ensure structure is maintained in the standard working day.
“On the other hand agreeing mutually beneficial perimeters is vital for success. To offer ‘work whatever hours you like, wherever,’ will present challenges for employers when managing teams. Agreeing common daytime availability is essential for creating opportunities for the team to collaborate and engage.”
While flexible working options have become a norm in most organisations, there are still New Zealand employers who do not offer them.
“These employers are missing out on valuable talent. We know that beyond improving staff engagement and morale, flexible working options open up the talent pool by up to 45 percent,” adds Barlow.
To understand the results further, Frog Recruitment held a poll with 300-plus current job seekers asking them whether they valued the ability to work remotely more than being offered flexible working hours. The flexibility gap widened and a majority (66 percent) favoured flexible hours compared to one third (34 percent) of jobseekers preferring to work away from the office.
Additionally, when asked what they valued the most given a choice of two benefits, jobseekers prioritised career development and training (59 percent) over bonus schemes (41 percent).
“Salary packages aren’t the only way to enhance an employer value proposition,” says Barlow. “While salary base, annual leave, bonuses and training are all ways for employers to entice people into their organisation, intangible factors such as company culture, trust from management, diversity, equity and inclusion will attract – and retain – quality talent into an organisation, and employers will more likely be rewarded with loyalty and ultimately, lower turnover.”