Tuesday, July 13, 2010

Flexible working better than bonuses

By : Kara Gammel

Employees value flexible working more than performance-related bonuses, according to new research by PricewaterhouseCoopers (PwC).

The survey, which comes as the new Government promises to extend the right to request flexible working to all employees, found that both men and women equally ranked this benefit the most valuable.

Michael Rendell, head of human resource services at PwC, said that the recession has changed people's attitude towards work.

"With companies mindful of taking on new employees, existing staff have been expected to do more with less," he said.

"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."

The survey found that a good company pension plan was the prime perk for 15pc of respondents.

Benefits of less significance were paid time off to do social or humanitarian work, exposure to advanced networking or social activities and paid training and development.

Marc Hommel, pensions partner at the firm, said that this was proof that the full extent of the pensions crisis was starting to hit home to many employees.

He said: "Most UK employers believe they have a role in helping their staff save for retirement but are looking for realistic ways of doing this which do not destabilise the business."

The research found that respondents were clear about their future employer.

Half of those interviewed would prefer to be self-employed while almost a third would like to be employed by a company whose values match their own.

Mr Rendell said: "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."

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