Findings published by HSBC indicate flexible working environments are more important than financial incentives when it comes to motivation and productivity.
A study of British companies found that nine in ten employees (89%) believe that more flexible work would motivate them to be more productive at work.
These findings further underscore the increasing importance on work-life balance among today’s workers. The HSBC study found that almost one in five (18%) cited a poor work-life balance as the reason for leaving their last job. This reason ranked above “limited opportunities for a pay increase”, and employers would be wise to take notice.
The study also highlights a gap between the working style employees believe to be the most productive, and what is offered. Despite the strong emphasis placed upon flexibility by employees, a minority of businesses offer it. Less than three in ten workers are offered more flexible working conditions.
Contrary to popular belief, this is not just the younger millenial generation speaking up. Flexible working is valued most by 35–44 year olds where 59 percent value the opportunity “a great deal”. In the millennial cohort, the same number is 47 percent. Additionally, a good workplace culture was cited as crucial to improving workplace productivity.
In short, today’s workforce want a better balance between their work and home lives, and the companies that are recognising and making provision for this are creating happier and more productive workforces.