Employers Can Expect To Attract Less Talent With A 5-Day Week!

Employers Can Expect To Attract Less Talent With A 5-Day Week!

author

James Rowland

Commercial Director James leads Account Management, Sales and Marketing at Neathouse Partners.

Date

24 February 2023

Updated

11 July 2024
3 min read
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Employers Can Expect To Attract Less Talent With A 5-Day Week!

A recent study from IWG found that an overwhelming majority of HR professionals (83%) think that hybrid working is necessary to attract top talent - that means stepping away from a 5 day week!

To stand out in the competitive landscape of recruiting top talent, IWG's research demonstrates that hybrid working and other wellness benefits are a must-have when it comes to being an attractive workplace for workers to consider.

This is highlighted even more by the fact that 64% of the 500 UK HR professionals surveyed revealed they had job seekers reject offers due to insufficient flexibility or exercise amenities.

This proves that employers need to offer the right perks when it comes to securing top talent to move your company forward.

Hybrid Working Is Here To Stay

Quiet quitting is happening more and more.

It's when an employee quietly leaves a job without notifying their employer, often because the workplace does not offer enough flexibility or wellness benefits for them to stay, leading them to search elsewhere for a more suitable role.

Hybrid working is an effective way for you to recruit and retain workers. It can also tackle quiet quitting by supporting employees to find a healthier balance between work and life responsibilities.

By offering flexibility like this, employers can better accommodate the needs of their team members and it also helps to reduce an employee’s commute times, meaning they have more time available for leisure activities and hobbies.

A recent survey of HR professionals showed that an overwhelming 49% consider this type of policy to be incredibly successful.

Many adopted it during the pandemic in 2020, and 62% have kept it since due to the positive outcomes it created, including improved employee satisfaction, and 57% experienced notable improvements in work/life balance!

Hybrid working is gradually becoming the new norm in many workplaces; clearly, it has a lot to offer employees and employers alike.

If your business hasn't been able to keep up with the trend of "quiet-quitting," then a hybrid working policy is an effective way for you to recruit and retain workers.

It's Not Just The UK!

These results are consistent on both sides of the Atlantic as employees across the US and UK are looking for similar benefits from their employers.

In a similar survey of HR professionals in the US, IWG found that the overwhelming majority (94%) use hybrid working to recruit new talent, with 93% saying it is a key tool for them.

Wellness Needs To Be A Focus Too

Wellness Needs To Be A Focus Too

According to IWG's research, well-being at work is here for the long haul and workers are expecting their employers to create an environment in which it can be achieved.

A remarkable 92% of HR specialists believe that a flexible working culture leads to more satisfied and dedicated personnel.

  • Research findings show that the shift to hybrid working has been incredibly beneficial for employees' mental health, with a staggering 96% saying it has vastly improved their well-being.
  • An overwhelming majority of 83% agree that remote working results in a healthier workforce, both mentally and physically.
  • Retaining employees can be incredibly beneficial to businesses, and the top benefits that positively impact employee retention are wellness-related. Offering fitness amenities (55%), providing access to green space (48%), supplying healthy snacks such as fresh fruit (47%) and granting access to a meditation room (41%) have proven immensely successful in keeping workers content.
  • The research found that employees are utilising their newfound free time in strategies such as wellness (58%), exercise (56%) and personal responsibilities at home (51%).

Hybrid working has revolutionised the corporate world by allowing workers more time to focus on their health and well-being due to the time saving made when the commute is removed.

According to IWG, which includes companies such as Regus and Spaces, data revealed that participation in workspaces outside of city centres such as suburbs and rural areas surged 36% last year - a clear indication that people want to work nearer home.

Productivity Goes Up With Hybrid

IWG's findings demonstrate that companies have experienced an overall improvement in their culture and collaboration since the transition to hybrid work became commonplace.

The majority of HR professionals (95%) strongly believe that employee productivity and well-being are directly impacted by the number of days spent in a physical office space.

An impressive quarter (25%) concluded that three days is the optimum amount required to maximise these benefits - results which were mirrored in US studies, where 97% agreed on this point.

Summary

With the job market fiercely competitive for top talent, employers must pay close attention to the challenges employees are facing. Last year's rise in "quiet quitting" should be a wake-up call of sorts - we must create and enforce policies that provide workers with an unparalleled work experience so they can reach their full potential while working with us.

The outcomes outlined above clearly demonstrate that hybrid working not only strengthens productivity but encourages a healthier organisational culture as well. It is becoming the standard for businesses wanting to protect their operations throughout this age of digital transformation.

Without it, organisations will be unable to attract and retain talent in an increasingly competitive environment.

Not only is it important to recruit top-notch talent, but also to retain the talented individuals you already possess.

This research highlights hybrid working as an effective means of achieving both tasks while simultaneously raising employee satisfaction and bolstering work/life balance.

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