Staff would sacrifice £1,949 from salary for flexibility

Work-life-balanceWorkers are willing to sacrifice an average of £1,949 from their salary in exchange for a better work-life balance, according to new research.

Job site Indeed surveyed 2,000 employees and found that if those earning the average annual salary of £31,461 gave up £1,949 a year, they would lose 7% of their pay packet.

The research also highlighted that nearly three-quarters (73%) of those currently working from home said their bosses want them back in their usual place of work, and for an average of three days. One in seven (70%) stated their employer is encouraging them to go back to their workplace for more days than they’d like, with 35-44 year olds and those earning £50,000 or more the most annoyed about this.

In addition, 38% of staff cited financial benefits other than salary, such as bonuses, pensions and private health insurance, are the the second most valuable element of their job. This has almost doubled from the 20% who ranked it as important in 2019, when it was the seventh most important feature.

Deepa Somasundari, senior director of strategic projects at Indeed, commented that the research suggests the ability to work flexibly is so important to workers wanting a better work-life balance that some would even be willing to sacrifice thousands of pounds from their salary in return.

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“We know that some jobs are more difficult to perform flexibly than others, but it’s important that workers and employers have honest conversations about how they plan to approach flexible working in the future because opportunities will outlast the pandemic.

“Employers who may be resistant to it should remember that a happy workforce is a more engaged and productive one, too, and allowing workers the opportunity to balance home life with work life will show that they value their overall wellbeing,” she said.