Research has revealed that employees deem job satisfaction more important than pay and would favour a more flexible approach to how they work over a 3% pay rise.
In a survey called the Investors in People’s Job Exodus Trends poll respondents were asked to choose between two possible scenarios –
- A 3% pay rise in line with recent UK increases, OR
- A different non-remuneration benefit.
The results revealed that, if given the opportunity, a third (34%) of employees would opt for more flexible working patterns.
Just under a third (28%) said they would like a clear career progression route whilst a quarter (24%) would prefer their employer invested in their training and development.
According to the survey nearly half (49%) of the UK workforce said they will be looking for a new job in 2016.
Poor management was given as the main reason (43%) why people were looking to move on from their current role. Unsatisfactory pay, together with staff feeling undervalued were also cited.
One in five (19%) employees across the country complained of having a high workload, and nearly a quarter (23%) are concerned by a lack of career progression.
Head of Investors in People Paul Devoy said the study highlighted that good management and how staff feel in their day-to-day role are now considered more important to workers than their salary.
“We know that bad leadership alone costs the UK £39 billion a year. If employers addressed these factors they would have a more committed workforce and far fewer resources tied up in constant recruitment drives. As the economy improves many employers run the risk of losing their valuable, skilled staff.”
“Saying thank you, involving employees in decisions, and giving them responsibility over their work are basic ways to make staff happier and more likely to stay. Employers also win, with a more committed workforce, higher retention and a clearer view of the future.”
Vanquish-IPS – helping organisations simplify the administration of flexible working patterns.
To help the workforce adopt a more flexible approach, organisations need to consider what management systems they have in place and how they can make new flexible patterns work for both the business and individuals themselves.
Workforce Management systems, such as Vanquish, support organisations looking to create a more flexible working environment for their workforce.
Vanquish simplifies the administration involved in managing the most complex working patterns and allows specific rules to be customised to each individual.
Real-time data capture delivers total transparency of employee working time, meaning organisations can actively manage and track an unlimited number of working patterns in a single solution, safe in the knowledge that they are complying with employment legislation.
Meanwhile, Vanquish Intranet provides a self-service portal which empowers employees to clock in and out, administer their own working time, check flexitime balances and request holidays from any web-enabled device.
Allowing employees to control how and where they carry out their work can help to create a more engaged workforce.
Typical examples of commonly used flexible working practices include –
- Home working
- Mobile working
- Job sharing
- Part time hours
- Compressed hours
- Annualised hours
- Staggered hours
- Phased retirement