Key Takeaways:
- Nearly half of UK employees would reject a 15% pay raise if it meant sacrificing flexible working options.
- 83% of surveyed workers feel that their current workplace’s flexible working policies need improvement.
- Employees cite reasons such as lack of trust, discomfort in requesting flexibility, and concerns about career progression hindrance as barriers to embracing flexible working.
London, February 13, 2024: In a groundbreaking revelation, new research conducted by payroll and HR software company PayFit has exposed a significant disconnect between UK businesses and their employees regarding workplace flexibility. The study, which surveyed 2,008 UK workers, highlights alarming statistics indicating that a staggering 83% of businesses are not adequately flexible to meet the evolving needs of their workforce.
The Flexibility Dilemma: Pay Raises vs. Flexible Working
Despite the allure of pay raises, the research reveals that employee preferences are shifting towards flexible working arrangements. Surprisingly, nearly half of the respondents indicated that they would turn down a substantial 15% pay increase if it meant sacrificing workplace flexibility. This paradigm shift underscores the growing importance of flexible working options in the modern workplace landscape.
Quote from Firmin Zocchetto, CEO and Co-Founder of PayFit: “With the impending legislative changes, it’s time for businesses to review their policies and add a layer of sophistication to offerings so that the benefits are attractive to employees’ needs. The research is clear: for sustained success and employee happiness, businesses need to cultivate a workplace culture that embraces flexibility at every touchpoint.”
Employee Dissatisfaction: A Call for Policy Reform
The study sheds light on the dissatisfaction among employees with their current workplace’s flexible working policies. A staggering 32% of respondents expressed dissatisfaction with their employer’s flexible working policy, signaling a significant gap between existing policies and employee expectations. Furthermore, 83% of surveyed workers emphasized the need for improvements in their workplace’s flexibility offerings.
Quote from Firmin Zocchetto, CEO and Co-Founder of PayFit: “It’s also clear that even as financial pressures mount, employees are placing a premium on the ability to tailor their work arrangements to suit their lifestyles.”
Barriers to Flexibility Adoption
Several factors contribute to the reluctance of employees to embrace flexible working options. Among the key concerns cited by respondents are:
- Lack of trust within the workplace, with 25% of respondents expressing a need for more trust.
- Discomfort in requesting flexibility, with 34% feeling uneasy about raising the topic.
- Concerns about career progression hindrance, with 14% fearing that flexible working might impede their advancement opportunities.
- Perceived questions about commitment to the business, with 18% apprehensive about the implications of adopting flexible working practices.
- Lack of encouragement from employers, with 30% feeling that their current workplace does not embrace or encourage flexible working practices.
Quote from Firmin Zocchetto, CEO and Co-Founder of PayFit: “Turning this data into a meaningful employee experience will be integral to their strategy for growth and retaining top talent.”
A Call to Action for Businesses
As the Employment Relations (Flexible Working) Bill looms on the horizon, granting UK workers the right to request flexible working arrangements, businesses must adapt to meet the evolving expectations of their workforce. PayFit urges businesses to leverage data-driven insights to revamp their flexible working policies and foster a workplace culture that prioritizes employee wellbeing and satisfaction.
For further information about the research findings and PayFit’s solutions, please visit: PayFit Research Highlights
About PayFit: PayFit, launched in April 2016, revolutionizes and simplifies payroll and HR processes for growing businesses. With a presence in the United Kingdom, France, and Spain, PayFit supports over 10,000+ companies in managing their payroll and HR functions seamlessly.
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