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.
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.
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.