A recent survey revealed that more than half of U.S. employees plan to look for a new job in 2021. Experts predict turnover will increase significantly this year as employees resume job searches they put off over the past year. How can employers guard against this turnover tsunami? They can start by focusing on workplace flexibility.
Each person you ask will likely have their own opinion on remote work and its impact on culture and productivity, proving there’s no one-size-fits-all answer. However, the research speaks for itself in showing that overall, employees are looking for more flexibility from their employers.
According to a recent FlexJobs survey, 58% of employees said they would look for a new job if they weren’t allowed to continue working remotely in their current position. The need for flexibility is even more dire for working parents, with research showing that many would give up the following benefits as a compromise to be able to keep a hybrid work arrangement:
- 23% would give up vacation time
- 19% would take a 10% pay cut
- 17% would work more hours
- 16% would drop health benefits
- 13% would drop employer-matching retirement contributions
The interest in remote work isn’t solely based on comfortability and ease. There’s positive data behind productivity, work-life balance and loyalty to employers. Consider the following research from the past year:
- 55% of employees say productivity increased while working from home and 33% say it stayed the same
- 30% of employees say their ability to collaborate has improved in a virtual world
- 86% of employees engaged in some sort of professional development during the pandemic
- 37% of employees would consider relocating for permanent remote work
The past 15 months have shown us that flexible work arrangements have a positive impact on organizations and that employees are starting to expect this benefit from their employers. From the research we’ve seen so far, employers are listening. 82% of middle market CEOs say they plan to allow for partially remote workforces after the pandemic is over. As we move forward, companies that embrace flexible work and brand themselves as remote-friendly workplaces will fare far better in recruitment and retention.
Your team at MMA is here to educate, consult, and help you make the best choices for your company. To discuss flexible work options for your organization, please reach out to your local MMA office.