Flexible working hours also emerge as the most important benefit for employees: survey
Despite flexible working hours reigning supreme as the most valued benefit, 61% of Australian employees said they are prepared to jump ship if their company scraps their work-from-home policy.
Perkbox Australia's Employee Census Report, conducted in collaboration with YouGov, surveyed over 1,000 working Australians, including both employees and managers, to provide a snapshot of the workforce's sentiments as they head into the New Year.
It found that working from home is the fifth-most valued benefit across Australian employees, with 43% of the respondents citing it as important.
"Our data serves as a reminder that employees do value this benefit, and the majority would leave their job for it," Doug Butler, Perkbox chief executive officer, said in a statement. "In addition, employees are expecting more support from their employers than ever before so removing benefits may carry risks."
The findings come as 48% of employees said they plan to find a new job in 2024, including 21% who will look for a new role within their current organisation.
Flexible working hours on top
Meanwhile, majority of the respondents (67%) pointed to flexible working hours as the most important benefit granted to them in the workplace. Other said it was:
- Rewards and recognition for good performance (58%)
- Career progression and personal development (49%)
- Additional annual leave (45%)
"Clearly flexible working, remote work from home arrangements, and cost-of-living concerns are all front of mind for employees this year," Butler said.
Cost of living's impact
The report also tried to determine if the rising costs of living had any impact on Australian employees.
Nearly half of them (46%) said it had no impact their motivation at work, while another 27% said it hit their productivity. For another 27% of respondents, they said it improved their output on the job.
It comes as 44% of the respondents don't think they'll be getting higher pay or cost-of-living relief from their employer this year, according to the report.
Butler said their findings indicate a challenging year ahead for employers this year.
"We strongly encourage employers to consider what matters most to their people, and where possible tailor workplace arrangements to suit individual needs," he advised.
