New research from Regus has found that 85% of the UK’s working parents would forfeit other benefits in return for flexible working.
Its Working Parents Survey found that 96% of working parents said that they would engage with a business that offers flexible working as part of its benefits package. In fact, 74% said they would be willing to take on a different job if it offered them a range of working locations.
The figures are part of a wider trend towards better support for working parents. Recently, ten large businesses published their parental leave policies online, to give prospective job applicants the opportunity to understand what’s on offer before applying.
Jo Swinson MP, who championed the publication of the policies, wants all companies employing more than 250 people to follow suit.
Working Families, which specialises in work/life balance, has also just released a report assessing the family-friendly and flexible working experiences of over 630,000 employees in the UK. It found that two-thirds of companies offer employees the right to request flexible working from their first day of employment (which they are not legally required to do), and more than a third promote flexibility when advertising jobs.
What does it mean for business?
All employees, not just parents, now have the right to request flexible working. As these findings show, it is becoming an increasingly popular workplace policy, even outstripping traditional benefits such as pensions. With employer-backed childcare vouchers now coming to an end, an effective flexible working policy is one positive way that employers can help support working parents. Other benefits, such as discount vouchers and well-designed workplace savings schemes, can also help working parents balance their finances as well as their time.
Please contact your Brunsdon Financial Adviser if you require further information on any aspect of workplace benefits or employee engagement.
Sources
https://www.bbc.co.uk/news/business-45657859
https://www.regus.co.uk/work-uk/85-per-cent-parents-forfeit-benefits-work-perk
https://www.workingfamilies.org.uk/publications/working-families-benchmark-2018/
Please note that this article does not constitute specific advice. Brunsdon is not responsible for the content of third party web sites.
