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Early finish on Fridays most popular perk, research reveals

by Kavitha Sivasubramaniam
02/02/2023
Early finish on Fridays most popular perk, research reveals
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Nearly two in five (39%) employees value finishing work early on Fridays above other workplace perks, new research has revealed.

The survey of 5,000 working adults by global recruiter Michael Page also discovered that 35% are looking for an employer that offers opportunities to train, while 28% want a well-equipped and well-designed office environment.

In terms of contractual benefits, more than half (28%) would like 28 days’ holiday as a minimum, while 46% want a company pension contribution that is competitive.

The research, carried out by via OnePoll, further found that other desirable workplace perks included progressive hybrid, flexible and remote working policies, cited by 43% of respondents, and good family leave and parental policies, identified by 27% of those polled.

Doug Rode UK&I managing director at Michael Page, said: “Identifying what workers prioritise when looking for a new role is a useful tool for any company seeking not only to hire top talent but also retain their own. Businesses need to ensure that their contractual benefits are fit for the modern working world – and that their ‘nice to have’ perks reflect the new, post-pandemic desires of workers across the country.

“From early finish Fridays and significant annual leave allowance through to staying competitive when it comes to pensions, there are numerous ways that employers can attract talent. Thinking outside the box can be a great way to have an edge over the competition but often it’s a case of getting the basics spot on and always keeping your benefits refreshed and up to date.”

The study additionally showed that 22% of employees are planning to look for new jobs within the first six months of this year, with a further 19% unhappy with their current circumstances because they have not had a pay rise in the past 12 months.

However, as the cost of living continues to stretch household finances, more than a quarter (28%) of respondents reported receiving a welcome rise in their wages in the past three months.

 

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The podcast from Benefits Expert, the title for HR, reward and benefits professionals.

Seasoned professionals examine the challenges and innovations in today’s employee benefits, reward and HR sector. Every episode, they will unbox a key issue and unpack what it really means for employers and how they can tackle it.

The regulars are Claire Churchard, editor of Benefits Expert; Carole Goldsmith, HR director at the Royal Horticultural Society, and Steve Herbert, consultant and rewards & benefits veteran.

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The US retreat from diversity, equality and inclusion (DEI) is making waves far beyond the country's borders. In the wake of President Trump’s executive order abolishing DEI across federal government departments, global firms like Goldman Sachs and Accenture have rapidly dialled down their own efforts. 

The influence is being felt in the UK too. However, the UK operates under a different legal framework. It has stronger workplace protections and a government actively looking to enhance employee rights through its Make Work Pay agenda. But as US firms reposition their approach to DEI, UK subsidiaries could find themselves caught between conflicting priorities.

In the latest Benefits Unboxed podcast, co-hosts Claire Churchard, editor of Benefits Expert, Carole Goldsmith, HR director at the Royal Horticultural Society, and Steve Herbert, industry veteran and reward and benefits consultant, discuss how the US DEI rollback might impact UK businesses.

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