Flexible working 'valued more than bonuses'

Employees believe that flexible working is the most valuable benefit they can be offered, beating many financial rewards, a new PricewaterhouseCoopers survey has revealed.

Flexible working arrangements were rated the most important benefit by 47 per cent of the 1,200 UK workers surveyed, above performance-related bonuses, which came second at 19 per cent.

Flexible working was prioritised by a significant number of both men and women, with 41 per cent and 54 per cent respectively ranking this benefit the most valuable.

A better work-life balance was seen as more achievable in the long term by 42 per cent of respondents, compared to a considerable increase in responsibility and salary (39 per cent).

The Managing Tomorrow's People report also found that a good company pension plan was the prime perk for 15 per cent of respondents, although networking and social activities, and paid training and development came bottom of the list of valued benefits, cited by just 6 per cent.

Half of the professionals questioned said they would rather be self employed, while almost a third sought to be employed by a company whose values matched their own.

Michael Rendell, head of human resource services at PricewaterhouseCoopers, said: "Two years of recession have changed people’s attitude towards work. 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."

But Audrey Williams, head of discrimination at Eversheds, questioned the extent to which flexible working for all workers could be implemented both legally and in practice.

She commented: "More employees are expected to be given the right to ask for flexible work arrangements under the coalition government, but it is unlikely that employees will be able to insist on flexible working. Any new law will probably be based on the existing model for parents, which simply enables employees to ask for flexible work arrangements and to have their request considered formally."

Source People Management