Almost three-fifths (56%) of respondents support full pay transparency, according to research by global job site Indeed.
The meaning of work, a report which analysed jobseeker trends from Indeed’s monthly visitors over the last five years and surveyed 2,008 UK employees, also found that 74% believe they can do their jobs to the same standard in four working days compared to five; this increases to 79% for younger respondents.
Pawel Adrjan (pictured), UK economist at Indeed, said: “Time will tell if [employees’] enthusiasm for the four-day week ever makes it the norm in the UK, but the idea has shot up the agenda of politicians, academics and even some employers over the last 12 months.”
Salary is considered to be the most important element of the employment package for 57% of respondents, although 55% of UK staff value work-life balance instead; employees who prioritise work-life balance stated that they would be happy to earn £6,000 less annually than those who are not primarily concerned about this aspect of wellbeing.
Adrjan added: “Demands for flexibility and work-life balance are also increasing, so employers who want to attract and retain the best staff will need to take an imaginative and flexible approach to how they organise their people.”
Three in 10 (31%) respondents are dissatisfied with their current level of pay, and 52% would consider leaving their job if their pay does not increase in the next one to two years.
Adrjan concluded: “In the UK, there has been a deep-seated reticence to discuss financial matters with even close friends, colleagues or family. This attitude is clearly being challenged, perhaps in part due to the huge interest that gender pay reporting has gathered, but perhaps more so thanks to the new generation of younger [employees] with different views on money and the workplace.”