For US workers, options like hybrid/remote work and flextime are no longer rare luxuries or “nice to have” perks. According to a new survey from The Conference Board, a majority now consider workplace flexibility a basic element of competitive compensation—one that can make or break a company’s ability to attract and retain talent.
Overall, the survey finds exactly 50% of US workers are satisfied with their current compensation. With average annual pay raises already at 22-year highs, simply raising base salaries further may soon be cost-prohibitive. In this environment, forms of non-salary compensation are increasingly important.
Among these non-salary elements, nearly 2 in 3 workers rank workplace flexibility options (location, hours) as important. That’s higher than any other component of total rewards—including competitive bonuses, paid time off, retirement plans, and healthcare options.
The latest workforce survey from The Conference Board was fielded from September 20 to October 4 and polled over 1,500 US employees—predominantly office workers. Respondents weighed in on their current work situation, how they felt about their current compensation, and what benefits they value most.
COMPENSATION PRIORITIES
When asked to select the five non-salary compensation elements they considered most important, there was broad consensus among US workers surveyed in September 2023:
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65% said workplace flexibility options (location, hours).
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64% said bonus, commission, or other incentive pay.
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60% said generous paid time off.
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59% said retirement plans – company contribution/match to 401(k) or 403(b).
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53% said healthcare plans that are flexible and affordable.
These findings corroborate our previous survey, when the same five items topped the list. In February 2022:
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71% said workplace flexibility options (location, hours) were important.
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Only retirement plans ranked higher (72%).
Far fewer respondents…
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