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Work-from-home (WFH) flexibility is the most highly-valued benefit by employees, followed by flexible hours and location.
More than nine in 10 employees surveyed in the UK said work-from-home flexibility is the most highly-valued benefit, with a staggering 94% of those who receive this benefit saying it increases their work productivity and happiness, according to a new survey by Business Name Generator.
The survey was undertaken between 21-24 March 2023, gathering opinions from 1,005 employees over the age of 18 in office-based roles in the UK.
*While the survey was conducted in the UK, HRO believes the content remains relevant and applicable to our readership in Asia.
Despite the high anticipation by employees, the survey found that just over a quarter of office-based workers are currently receiving this benefit (27%).
Flexible working hours and flexible working location came in second and third place respectively, with more than nine in 10 (93%) of respondents valuing these benefits.
A cycle-to-work scheme ranked as the least-valued benefit with just 37% of those who receive this agreeing that it helps to improve their productivity and happiness, with childcare vouchers (52%) and volunteer days (55%) also among the least popular.
The survey also revealed that a cost-of-living payment is the most important benefit for the Gen-Z workforce (aged 18-24), whilst those aged 55 and over favour a wider range of benefits, from a four-day workweek to being able to bring their dog to work.
Top 10 most valued workplace benefits in the UK:
Rank | Benefit | % of respondents that agree this benefit improves happiness and wellbeing | % of respondents who have this benefit |
1 | Work-from-home (WFH) flexibility | 94.0% | 26.7% |
2 | Flexible working hours | 93.0% | 28.4% |
3 | Flexible working location | 92.7% | 19.0% |
4 | Annual / quarterly bonus | 87.9% | 14.8% |
5 | Extra annual leave (a minimum of one day extra than the legal requirement) | 87.4% | 17.4% |
6 | Paid overtime | 85.7% | 26.4% |
7 | Market value salary | 85.1% | 8.7% |
8 | Unlimited annual leave | 85.0% | 2.0% |
9 | Company holidays / trips | 84.0% | 7.5% |
10 | Investment opportunities | 83.3% | 5.4% |
Monetary benefits remain important amidst the cost-of-living crisis
In the face of the rising cost of living, monetary benefits seem to be more important to UK employees than wellbeing benefits.
According to the survey, more than 60% of respondents agree a lack of salary information in job ads is a ‘red flag’. Further to this, almost half of the respondents (46%) said they wouldn’t apply for a job that doesn’t have good monetary benefits, while 37% said they wouldn’t apply for a job that didn’t have good wellbeing benefits.
Having said that, just over a quarter (28%) of employees in the UK have seen additional monetary benefits since the cost-of-living crisis, such as more paid overtime, annual bonuses, or one-off cost-of-living payments. Even fewer have seen more additional non-monetary benefits, with just 21% of employees in the UK enjoying the likes of free lunches in the office and subsided travel.
Meanwhile, almost one in four (23%) UK employees said they have left a job because of a lack of workplace benefits.
Chloe Chai, spokesperson for Business Name Generator, said: “With no end in sight to the cost-of-living crisis, workplace benefits will continue to be a sticking point for employees. Ultimately, staff will vote with their feet by leaving companies who lag behind their expectations.”
Lead image / Shutterstock
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