With a record-breaking number of employees resigning from their jobs during the Great Resignation, job seekers hold more power than ever to negotiate before accepting an offer. While salary remains important, many employees are also looking for work flexibility when considering a new opportunity.
According to a recent Topia survey of 1,481 full-time office workers, 96% of employees feel that flexibility in working arrangements is important when seeking a new job. Here’s why work flexibility is proving to be crucial in recruiting and retaining top talent in the current job market.
The “Great Resignation” is a term coined by Professor Anthony Klotz—an organizational psychologist at Texas A&M University—to describe the ongoing labor trend of record-breaking monthly resignation rates in the US economy.
In 2021, it was reported that a record-breaking 38 million workers quit their jobs. From January to May 2022, the BLS has reported quit rates consistent with 2021– proving to employers that job turnover isn’t slowing down.
The workforce and job market have seen numerous repercussions of the Great Resignation. For example, many organizations—beyond simply raising base compensation—have started offering more robust benefit packages and flexible work schedules to attract and retain employees.
Contrary to popular belief, the hiring cycle doesn’t just stop once a new hire signs your offer.
Topia’s “Adapt to work everywhere” study surveyed 1,481 full-time office workers between December 22, 2021, and January 11, 2022—including 299 HR professionals. The 2022 study focused on “flexible work arrangements,” defined as any work done outside the traditional office environment. Flexible work arrangements could include working from home, a local coffee shop, coworking spaces, or even from a different state or country than where the employee is based.
Of those surveyed, 29% stated they changed jobs in 2021, and 34% are planning to resign this year. Many employees noted that an increased desire for flexibility was a significant factor in staying or leaving. Here’s what the survey found regarding work flexibility:
While competitive salaries are a driving force in retaining and recruiting top talent, many other benefits should be considered. Mutual trust in employees can increase employee retention, and offering flexible work policies is an excellent place to start.
While 82% of employers already have a flexible work policy in place, an employer’s approach is crucial to reaping the benefits.. Here are some tips on using BerniePortal to manage your organization’s policy.
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