Companies that don’t offer flexible work arrangements will likely find themselves with a shrinking labor pool. A new survey from The Conference Board found that almost two-thirds of workers rate workplace flexibility as important. In a similar result, Monster found that 41% of employees would rather quit than return to the office full-time.
The Conference Board survey focused mainly on office workers. These are the top five most important non-salary compensation elements:
- Workplace flexibility options (location, hours): 65%
- Bonus, commission, or other incentive pay: 64%
- Generous PTO: 60%
- Retirement plans – company contribution/match: 59%
- Flexible and affordable healthcare plans: 53%
“Employees’ focus on flexibility amid a tight labor market puts the onus on HR leaders and C-suites to ensure hybrid workforces remain engaged, productive, and connected in the years ahead,” said Rita Meyerson, EdD, Principal Researcher at The Conference Board. “But it also opens new avenues in the competition for talent. Unlike salaries, bonuses, health care or retirement plans, workplace flexibility is the rare employee benefit that can save—rather than drain—financial resources, giving an advantage to companies that plan proactively.”