The era of substantial salary increases for job changers is now a thing of the past. However, a new trend is gaining momentum: flexible work schedules.
Looking to attract talent without causing financial strain? Many companies are increasingly turning to one particular benefit: schedule flexibility.
In ZipRecruiter’s Q3 Survey of New Hires, 45% of respondents reported having “greater flexibility in their work schedule” in their new positions, up from 42% in the same quarter of 2023. This shift comes as the percentage of new hires receiving salary bumps, signing bonuses, and remote work options has decreased compared to the previous year.
This finding may come as a surprise, notes Julia Pollak, ZipRecruiter’s chief economist, given the prevalence of flexible work arrangements in the wake of the pandemic. However, it underscores the ongoing competition for talent and the cost-cutting measures adopted by companies.
“Employers are seeking ways to distinguish themselves without significantly impacting their bottom line,” Pollak explains.
While factors like compensation and company culture still weigh heavily on job seekers’ decisions, according to ZipRecruiter, 16% of new hires in the latest survey cited schedule flexibility as a key reason for accepting their job offer.
Notably, flexible schedules are not only attractive to remote-capable employees. Gallup’s 2023 survey revealed that on-site workers placed a higher value on “time” flexibility, such as choosing days or hours to work, over location flexibility.
This perk particularly resonates with certain demographic groups, with women and parents of young children more likely to benefit from this offering when transitioning to new roles.
Although offering schedule flexibility poses challenges for employers in terms of ensuring adequate coverage and the right mix of staff at all times, its low cost and popularity among employees make it an increasingly coveted option, especially among younger workers.
Vocabulary List:
- Flexibility /ˌflɛksəˈbɪlɪti/ (noun): The ability to adapt to different circumstances or the quality of being adaptable.
- Attract /əˈtrækt/ (verb): To draw or pull toward oneself; to lure or entice.
- Competition /ˌkɒmpəˈtɪʃən/ (noun): The act of competing; rivalry between companies or individuals for resources or market share.
- Transition /trænˈzɪʃən/ (noun): The process of changing from one state or condition to another.
- Employers /ɪmˈplɔɪərz/ (noun): Individuals or organizations that hire employees.
- Demographic /ˌdɛməˈɡræfɪk/ (noun): Statistical data relating to the population and particular groups within it.
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