Do employees prefer lifestyle benefits or holidays?

by L&D20 Jan 2017
A recent study – commissioned by specialised recruitment company Robert Half – shows employees in New Zealand prefer lifestyle benefits over more holidays when thinking about non-financial rewards.
When asked about additional benefits other than more pay, more than half (55%) of New Zealand Chief Financial Officers (CFOs) and finance leaders said that flexible working hours topped their employees’ wish lists.
Surprisingly, less than one in four (23%) say their employees would prefer more annual leave, indicating flexible working arrangements is a more attractive incentive than more time off for Kiwi employees.
Megan Alexander, General Manager Robert Half New Zealand said New Zealand workers would value flexible working hours.
“In the digital age and with a more mobile workforce, it's no longer the case that every employee needs to be in the office from 9 to 5 to be productive,” Alexander said in a statement.
“In many cases, managers are actively encouraging their employees to take advantage of their flexible work arrangements as they constitute an attractive alternative to salary increases.”

Other than additional compensation, which one of the following would top your employees’ wish list?
More flexible work hours 55%
More holiday / annual leave 23%
Home office / telecommuting 10%
More training or professional development opportunities 5%
Other corporate benefits, such as childcare, laundry, ironing services, fitness centre 7%
Source: independent survey commissioned by Robert Half among 100 New Zealand CFOs and finance directors.

Alexander said that companies can differentiate themselves by offering little extras, such as flexible working hours, the option to work from home and more holidays.
“Not only will this boost staff morale and productivity, but companies are also recognising the added value in gaining the reputation of an employer of choice, helping boost their talent acquisition strategies,” she said.