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BUSINESS NEWS - Most Jobseekers Say Hybrid Working Now As Important As Financial Benefits

Posted 24th June 2022 • Written by •

Job seekers in the UK now view hybrid working as a pre-requisite for new roles, with a new study from IWG showing it is now as important as other financial benefits including health insurance, life insurance and group income protection.

IWG, a flexible office and workspace provider, found that 88% of workers said hybrid working was an important factor when looking for a new job this year, placing it alongside health insurance and group income protection (both 88%) and ahead of life insurance (84%), unlimited holiday (76%) and extended parental leave (71%).

The research points to data from Indeed, which shows that year-on-year searches for the term ‘hybrid’ have increased by 6,531% in the twelve months up to the end of April, making it one of the fastest growing search terms on their UK website.

Searches for remote work having also risen (+666 per cent), now accounting for 2.3% of all searches. This highlights the desire for people to be able to work closer to their local communities, with 60% of survey respondents confirming that they would like a workspace within 15 minutes of their home.

IWG’s research shows that hybrid working is beginning to gain parity with salary, pension and holiday as the key factors to consider when job hunting. When asked to rank their top five considerations when applying for a new role, office workers rated hybrid working (43%) as being more important than company culture (27%), equity and bonuses (27%), potential for progression (30%) and new colleagues (32%). Half, or 49%, of office workers said they would immediately rule out jobs that didn’t offer hybrid working.

Employees also identified several benefits to hybrid working. Two thirds, or 67%, said it improved work/life balance, while 37% cited improved mental health and wellbeing. Over a third, or 36%, said it had reduced their commuting load, with 31% saying it enhanced productivity.

Bruce Daisley, best-selling author of The Joy of Work and former EMEA Vice-President of Twitter, said, "We're right at the start of the biggest transformation in the way we work that we've ever witnessed. The biggest danger for firms is thinking that we're the end of the change; we're just at the start and companies need to prepare themselves."

Mark Dixon, CEO of IWG, said, “With a buoyant job market after a challenging couple of years, workers are demanding more of their employers and their roles. Gone are the days when salary was the only factor when considering a job offer, and nothing better demonstrates this than the rise of hybrid working.”

“Daily commuting is an expensive and unnecessary practice, and it’s clear to see that workers around the UK are taking back control of this time,” Dixon said. “Employers who don’t offer hybrid working are going to miss out on the best talent. Not only do employees benefit from a dramatically improved work-life balance, but by switching to a hybrid model, businesses can expect to save an average of more than £8,000 per employee, all while minimising their carbon footprint.”

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