Brits looking for more flexible work-life hours but big companies hesitant to offer them
The ‘Great Resignation’ in the UK is in full effect, with analysis by Deutsche Bank finding that more people left their jobs at the start of 2022 than at any point in the last decade, with Brits considering their options caused by the pandemic. The number of open vacancies in the UK is at its highest point ever, meanwhile, redundancies are at their lowest point since the 90s.
Accountancy practices are seeking answers to counteract the surge of resignations from their employees. Recent research found that half of UK workers are prepared to leave their roles in order to access hybrid working benefits, with 41% of people likely to consider leaving their jobs within the next year.
The ‘big four’ are being forced to change their traditional employment styles as people are rethinking what they want from life after the pandemic with 57% of Brits saying they do not want to go back to the ‘normal’ way of working in an office environment with normal office hours, with people searching for a more flexible, tailored work-life. Research by Theta Global Advisors LLP found that more than half of British workers worked better at home, whilst 40% of Brits believe forcing a strict return to the office would hinder their performance.
Big companies, such as Deloitte and Goldman Sachs are still somewhat reluctant to fully adopt flexible work environments however, due to the fear of lowered productivity, with 24% of Brits saying that their employer hasn’t explored any flexible working options to help them return to work. Goldman Sachs have been in conversations about changing their work-life balance for almost a year after a leaked report disclosed abusive working conditions among junior bankers, who were working averages as high as 105 hours a week.
Chris Biggs, partner at consultancy and accounting disruptor Theta Global Advisors comments:
“It’s great to see the workers at the big companies realising how integral they are to their company and are calling for benefits which they rightfully deserve.
“The option of having a flexible work schedule has become fundamental for post-pandemic workers. But the big companies still seem reluctant to offer these benefits to their employees because of the fear of decreased productivity and therefore a loss of profits.
“At Theta Global Advisors we realise the importance of a reasonable work-life balance and how important flexibility is for workers. We find that this can increase productivity and provide workers with a working environment which they are happy with. The big companies are in a dangerous position where they need to change or could face a mass exodus of talent “
