Midlands workers want good work-life balance – PwC

MIDLANDS workers prefer a healthy work-life balance over more material perks such as bonuses, a new study has claimed.

Managing Tomorrow’s People, commissioned by PricewaterhouseCoopers, explores the work aspirations and expectations of 1,167 professionals in the Midlands and across the UK.  

The study showed flexible working arrangements were rated the most important benefit by 47% of those surveyed, above performance-related bonuses, which came second (19%).

Flexible working was given fairly equal priority by men and women, with 41% and 54% respectively ranking this benefit the most valuable.  Moreover a better work-life balance was seen as more achievable in the long term by 42% respondents than vastly increased responsibility and salary (39%).

The findings come as the new Government promises to extend the right to request flexible working to all employees.

Robbie Wigley-Jones, partner and employee benefits expert at PwC in the Midlands, said: “Two years of recession have changed people’s attitude towards work.  With companies mindful of taking on new employees, existing staff have been expected to do more with less.  

“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.”

He said that with bonuses being unpredictable in uncertain economic conditions, employees in the Midlands were clearly 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,” he added.

The survey found that a good company pension plan was the prime perk for 15% of respondents, making it the third most popular benefit – UK respondents put greater priority on pensions than any of their counterparts globally.

Benefits of less significance were paid time off to do social/humanitarian work (7%), exposure to advanced networking/social activities; and paid training and development (both at 6%).

“The full extent of the pensions crisis is starting to hit home to many employees,” said Mr Wigley-Jones.

“Most UK employers believe they have a role in helping their staff save for retirement but are looking for realistic ways of doing this which do not destabilise the business.”
                                                         
Other findings include how professionals imagine their future working lives.  More people picture themselves working in a virtual place, where employees log on from any location, than from centralised hubs in major city centres.  

Surprisingly, it is the 16-25 year-old bracket alone where a majority imagine an ‘office block’ in a city centre as their future workplace.

Respondents were clear about their future employer.  Exactly half would prefer to work for themselves.  Almost a third would like to be employed by a company whose values match their own, while the remaining 20% want to work for an elite company that employs only the best.

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