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Employees rate work-life balance over bonus
Flexible working is the most valued benefit for employees, ahead of material perks such as bonuses, according to a new PricewaterhouseCoopers survey. The findings come as the new government promises to extend the right to request flexible working to all employees.
“Managing Tomorrow’s People” explores the work aspirations and expectations of more than 1,000 professionals across the UK. Flexible working arrangements were rated the most important benefit by 47% of those surveyed, above performance-related bonuses, which came second (19%).
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Key survey findings
Flexible working was given priority by 41% of men and 54% of women (ranking this benefit the most valuable).
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%).
A good company pension plan was the prime perk for 15% of respondents, making it the third most popular benefit (UK respondents put greater priority on pensions than their counterparts globally).
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%).
A final word
“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.” - Michael Rendell, head of human resource services, PricewaterhouseCoopers LLP.
Want to know more?
Title: "Managing Tomorrow’s People: Where will you be in 2020?", PricewaterhouseCoopers.
Survey details: The survey was conducted in early 2010 and is based on a total of 5,746 responses from 113 countries including 1,167 responses from the UK.
Availability: To find out more information, you can call the main PwC switchboard number on +44 (0) 20 7583 5000, or visit PwC’s Managing Tomorrow’s People web site.
PricewaterhouseCoopers provides “industry-focused assurance, tax and advisory services to build public trust and enhance value for our clients and their stakeholders”. For more details visit www.pwc.com.