Half of Australian workers would take less money for more flexibility

In its latest People at Work 2022: A Global Workforce View report, the ADP Research Institute found that 48 per cent of Australian workers would take home less pay for a better work/life balance.

Additionally, it found that 60 per cent of workers want more flexibility in their working time, including things such as compressing hours into fewer, longer days, while 41 per cent said they would agree to a lower wage if they could have a say in how they structured their work hours.

It also found that 62 per cent of workers have thought about making a major career move in the past year, with flexibility being a significant factor.

Although flexibility seems to be one of the major driving forces for workers in changing or looking for new jobs, only 9 per cent of Australians have been offered a four-day working week.

“Many of our long-held beliefs about working have been upended,” Kylie Baullo, managing director, Australia and New Zealand, at ADP said.

“While the onus remains on employers to create an attractive working environment, which encourages employees to stay, the hiring market is highly competitive at the moment. This is a strong indication that business leaders must consider what employees value and be open-minded and accommodating in negotiation.”

Ms Baullo said businesses should allow themselves to think creatively to align organisational goals with the shifts in employee expectations.

“New arrangements, such as the four-day work week, have yet to be widely adopted in Australia. But these have the potential to be advantageous for both employers and employees. Such arrangements would previously have been dismissed, but now they are an example of real-world change caused by shifting worker priorities and astute business leaders,” Ms Baullo said. 

She added that although pay continues to be an important concern for workers, both domestic and international hires, many more are looking for organisations that can offer flexibility.

“Acknowledging, understanding, and addressing these priorities is now vital for successful businesses looking to retain their core talent and help them thrive,” she said.