iscover
Many employers are stepping away from the norms forced upon us by the pandemic by insisting staff return to onsite work. However, there are many who are not happy about these mandates, compounding stress.
These back-to-office mandates could alienate employers from their workers, as Flare’s latest National Employee Benefits Index revealed that the biggest drivers of employee loyalty are flexible schedule options (45 per cent) and support for reasonable work hours (32 per cent).
David Brudenell, chief revenue officer at Flare, noted that with the present volatility of the workforce, looking after the wants and needs of employees should be of top consideration.
“With job mobility the highest it’s been since 2012, and pre-recessionary sentiment high, keeping employees productive has never been more critical,” said Mr Brudenell.
“The national index shows employee perks and benefits drive productivity and loyalty, but most businesses have the wrong mix of them. Aussies want flexibility above all else – and are loyal to employers that offer it.”
The forcing of staff back to onsite work could have negative effects on stress, which, according to Flare, is running rampant.
The report found that financial obligations were the biggest cause of stress for Aussies. Of these financial stressors, the worst were:
- Mortgage pressures (94 per cent)
- Shrinkflation (92 per cent)
- Transportation fares (86 per cent)
- Childcare expenses (44 per cent)
Meanwhile, 41 per cent of Aussies are emotionally drained, 37 per cent feel overworked, and 38 per cent are considering leaving their current organisation.
Recognising what stresses employees and crafting policies to support them can help employers stand out from the crowd.
Mr Brudenell continued: “Benefits have the power to help employees thrive, acting as a buffer between economic pressures and emotional stress, but this is dependent on the right benefits, company processes and culture.”
“Encouragingly, the index shows businesses are beginning to move in the right direction in alleviating employee stresses, but maintaining this momentum will be the real testament in driving employee loyalty as we close out a turbulent year for business operations and retention.”
Unfortunately, according to Flare’s research, it appears that employers are restricting benefits rather than expanding them. It’s reported that there have been drops of over 70 per cent of the most popular benefits in the past year, with flexible work arrangements being the most notable shift at 16 per cent.
Jack Campbell
Jack is the editor at HR Leader.
