October 2, 2019
New research from travel app provider Seatfrog claims that workers are looking for more than just fun or unusual workplace perks to brag about to their friends when starting a job. While on-site table tennis, a free bar and unlimited snacks has become commonplace in the war to attract talent, especially in the technology sector, around three in five of the 2,000 people surveyed dismiss perks as nothing short of a gimmick.
Meanwhile two thirds of job-seekers say while perks are a nice addition, they hold no real sway in terms of making job decisions and only 10 percent have turned down a role due to “inadequate” benefits.
Instead, workers are seeking a better work culture and to join companies invested in their personal development. Salary aside, the top reasons cited for taking on a new job are a good work-life balance (62 percent), the nature of the work itself (45 percent), opportunities for growth and personal development (41 percent) plus a strong culture (21 percent).
The study, exploring what workers want from their jobs, underlines the importance of companies helping their employees find work-life balance. Flexible working, a 4-day working week, shorter summer hours, unlimited holiday allowance, on-site childcare and funded travel all topped the list of what employees are looking for from their role.
The need for recognition
The study also claims that workers are twice as likely to value recognition for a job well done than workplace perks. This rises amongst women with 70 percent claiming that recognition for their achievements is far more valuable and important for job satisfaction than either a free bar, an office dog or unlimited ping pong.
The research claims that satisfaction levels amongst younger workers with work-life balance hovers between 15 percent to 25 percent depending on the sector. The industry with the highest satisfaction for work-life balance is Travel and Transport (24 percent very satisfied) compared to Media and Journalism which came bottom (7 percent not satisfied at all). Only 19 percent of employees within the technology sector said they were completely satisfied with their work-life balance.
Iain Griffin, Co-Founder and CEO of Seatfrog, said: “Perks may once have had a role to play in improving employees’ work-life balance and the tech industry is certainly renown for offering extreme ones. Yet we need to look beyond simple, temporary incentives and provide people with a true sense of purpose – changing day-to-day elements of the workplace so we not only attract top talent but retain them as well.”