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In terms of key employee benefits, flexible working hours takes the cake as the top priority for employees going into 2024.
A recent Perkbox study showed that flexible work hours outranked working from home as the key work benefit for Aussie workers. However, the majority are still unwilling to part ways with their work-from-home policy.
Three in five (61 per cent) of Australian workers would consider leaving their current job if their current employer no longer supported the work-from-home policy. This shows that although employees may favour flexible work hours, they are unwilling to sacrifice their working-from-home benefits.
A balance of both is key for employees. Along with flexible working hours, over half (58 per cent) said they valued rewards and other forms of recognition for achieving workplace milestones.
Perkbox chief executive Doug Butler stressed the importance of employers considering this data.
“Our data serves as a reminder that employees do value this benefit, and the majority would leave their job for it. In addition, employees are expecting more support from their employers than ever before, so removing benefits may carry risks,” said Mr Butler.
Other findings in the report highlighted how the cost-of-living crisis is affecting employees and their motivation to work in the current financial climate.
“Clearly, flexible working, remote work-from-home arrangements and cost-of-living concerns are all front of mind for employees this year,” said Mr Butler.
A third (33 per cent) of Australian workers feel negatively impacted in terms of their motivation levels due to financial pressures that are a product of the impending cost-of-living crisis, including 7 per cent saying that their overall motivation has been extremely negatively impacted.
To help combat this lack of motivation, pay rises and other strategies can be implemented to assist employees.
Over half (56 per cent) of workers believe that they are likely to receive a pay rise or some form of cost-of-living crisis support increase from their employer. However, over two in five (44 per cent) believe they are unlikely to receive this increase in support from their employer. Very split views from Australian workers.
The data displays what issues matter to employees in 2024, issues that need to be taken seriously by employers to create an efficient working environment that has business thriving.
“All of this data points towards a challenging year ahead for organisations as they manage their workforce. We strongly encourage employers to consider what matters most to their people and, where possible, tailor workplace arrangements to suit individual needs,” said Mr Butler.
Kace O'Neill
Kace O'Neill is a Graduate Journalist for HR Leader. Kace studied Media Communications and Maori studies at the University of Otago, he has a passion for sports and storytelling.
