Why Flexibility, Not Wage Increases, Is Key To Retention

The report showed UK businesses can no longer rely on just salary increases to attract and retain top talent.

Flexible work is critical to employee retention according to a new report from Sonovate.

Taking research from 4,000 respondents and 500 small and medium-sized business owners, the Future World of Work report showed UK businesses can no longer rely on just salary increases to attract and retain top talent.

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In fact, two-thirds of businesses in the UK believe that flexibility is key to attracting talent, although 52% have still taken to increasing salaries. However, with the current economic client, companies agreed that continuing to raise wages is unsustainable.

Additionally, the report showed 49% of businesses are taking a more employee-centric approach when finding new methods of attracting and retaining talent.

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Flexibility has been central in this new approach, with 58% of businesses providing workers with the ability to choose their hours, 58% offering a shift from permanent to temporary contracts and 56% giving staff the option to choose which days they work.