Blog » Four day working week is biggest incentive to switch jobs

Four day working week is biggest incentive to switch jobs

25th January 2023

  

A SURVEY of over 1,000 UK people has revealed workers in Belfast are the most likely to be dissatisfied with their work benefits.

The study on workplace benefits, conducted by iComario, surveyed workers on their current benefits, and quizzed them on the employee benefits that might tempt them to move on. Over a third (36%) of Belfast participants reported their unhappiness, with those working in Liverpool (31%) and Newcastle (31%) similarly unimpressed by the benefits package they receive.

Over two thirds (68%) of respondents said they would change jobs if they were offered a similar role elsewhere with a four-day working week. Being able to work flexible hours (64%) and the opportunity to earn overtime pay (63%) also showed up as the benefits most likely to tempt workers away from their current employer.

Despite the four-day working week being seen as the holy grail, it was revealed that only one in ten in the UK (10%) currently receive this benefit. In light of the cost of living crisis 13% said that they would prefer to get food or energy bill vouchers over traditional workplace benefits like a company pension scheme or private health insurance.

The survey also found that one in nine UK workers (11%) don’t currently receive any work benefits at all.

All in all, there are ten workplace benefits desirable enough for the majority of the UK workforce to consider moving jobs for, if they were offered a similar these alongside a similar role:

Benefits most likely to tempt workers away from their employer

1.       A four-day working week (68%) 

2.       Flexible hours (64%) 

3.       Overtime pay (63%) 

4.       Remote working (56%) 

5.       A company pension scheme (56%) 

6.       A private healthcare plan (54%) 

7.       Performance based bonuses (54%) 

8.       Early finish on a Friday (54%) 

9.       Company shares (50%) 

10.   Employee discounts (50%) 

Over half of emergency service workers such as paramedics and firefighters (56%) admitted they are dissatisfied with the level of benefits they receive in their role, making them the workers most commonly unhappy with their perks at work.

Creative workers are also among those who are most likely to be unhappy with their benefits, with those working in marketing and advertising (50%) and design/ creative roles (42%) demonstrating ‘work perk’ dissatisfaction in large numbers.

A third of those who said that they are dissatisfied with their benefits (33%) said that they would rather receive the cash value of their benefits than the perks themselves.

Kerry Fawcett, Digital Director at iCompario said: “The study findings show how important a role benefits can play in retaining a happy and loyal workforce. Many workplace benefits make a tangible difference to people’s lives, and workers are much more likely to stay put in their current role if they feel that their employer is rewarding them sufficiently for their efforts.

“Our study gives some indication of the types of benefits that are most sought-after on a general basis, but employers are likely to want to conduct their own research to ensure that they are offering benefits that employees in their specific sector are looking for – getting this right can play a big part in retaining talent.”

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