Remote Work and Flexible Schedules Key Factors in Compensation Packages According to New Report

March 29,2022. According to FlexJobs’ Work Insight 2022 Survey* with over 1,200 people currently employed, remote work is considered the second most important element to compensation and benefit packages, ranked only behind salary. In fact, remote work has become such a priority among today’s workers that 57 percent say if they are not allowed to keep working remotely in their current position, they will absolutely look for a new job. The value of having flexible schedule options was assessed similarly to having health insurance and vacation time.

Four-day workweeks, once considered an extremely fringe benefit, were identified as important by nearly a third of workers, while only half cited retirement benefits.

When asked which compensation and benefits are most important to them, workers specified:

  • Salary (83%)
  • Remote work options (77%)
  • Flexible schedule options (63%)
  • Health insurance (63%)
  • Vacation time (62%)
  • 401(k)/Retirement benefits (50%)
  • Skills training and education options (44%)
  • Special company perks (35%)
  • Bonus (34%)
  • Four-day workweeks (29%)
  • Equity (21%)
  • Paid maternity/paternity leave (18%)

Even though workers have vocalized the importance of remote work options, 36 percent reported that their companies will require them to be in the office full-time post-pandemic. Twenty-eight percent expect a hybrid workplace, and 23 percent anticipate a fully remote workplace. The remaining 11 percent were not sure about their company’s plans yet.

“We continue to see evidence that post-pandemic workers will not only expect but in many cases demand the ability to work remotely at least some of the time,” said Sara Sutton, Founder and CEO of FlexJobs. “Placing remote work and flexible schedule options on par with or even above key benefits, such as health insurance and vacation time, speaks very loudly about what today’s workers truly value, and I hope companies are listening,” Sutton concluded.

Additional key insights:

Pay Negotiations

  • 34% felt more empowered to negotiate their salary/ask for a raise in the last year

     –16% were able to negotiate successfully while 18% were not successful, meaning roughly half (47%) of workers who negotiated last year were successful

  • 32% have actually felt less empowered, and the remaining 34% have not experienced a change

2021 Salary/Bonuses

  • 50% said their salary increase/bonus was about the same as last year, with 23% receiving more and 27% receiving less
  • 71% say their company or employer has not recently offered anything really unique or special to try and retain workers
  • The 14% that specifically said their company has offered unique perks identified stock options, equity, extra paid time off, gift cards, and various bonuses (cash, signing, referral, and retention)

Pay Transparency

  • 42% have discussed their salary with a colleague, but 58% have not
  • 35% say their company is not transparent about pay
  • 33% say their company is very transparent
  • 32% say their company is a little transparent

FlexJobs created the survey, which was promoted to general audiences and its subscribers/members primarily through social media and newsletters. FlexJobs used a multiple choice and multi-select question format via SurveyMonkey’s online platform. The survey ran from February 23, 2022, to March 7, 2022.

Demographic breakdown of the 1,248 respondents: Gender: women (73%), men (26%), prefer not to identify (1%); Generation: Gen Z (6%), millennial/Gen Y (40%), Gen X (39%), baby boomer (15%); Education: less than a high school degree (2%), high school degree or equivalent (6%), some college but no degree (15%), associate’s degree (8%), bachelor’s degree (40%), graduate degree (29%); Career level: entry-level (10%), experienced (61%), manager (19%), senior-level manager (10%); Thirty-nine percent had children 18 or younger living at home with them.

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