Employees rate quality of work life higher than pay

More than half (55%) of respondents rate the quality of life in the workplace as being more important than financial incentives, according to research by recruitment firm Brook Street.

Its Survive and thrive research, which surveyed 1,000 London-based employees, found 32% would prefer a comprehensive benefits package, while 40% felt that flexible benefits plans were most important.

The research also found:

  • 60% of respondents view financial incentives, such as better pay, as the main reason to switch jobs.
  • 70% of respondents would expect higher pay if they joined a new employer and 60% would expect a promotion.
  • 12% of respondents regard being able to work flexible hours as a reason to move jobs, and 4% would switch jobs for a better benefits package.

Erika Bannerman, sales and marketing director at Brook Street (pictured), said: “There is a clear contradiction about what employees say they want and what they really want.

“A lot of organisations have spent a considerable amount of effort and money trying to enhance the quality of life of their employees through comprehensive benefits packages. As it turns out, in many cases they would have been better off focusing on their salary schemes instead.

“Years of pay freezes and wages below the rate of inflation are really starting to show. A couple of years ago, a comprehensive benefits package would have been a deal breaker.

“It seems that the recession has put hard cash on top of workers’ priority lists. Businesses which act on this trend will be in a better position to keep their staff.”