When Justworks and SquareFoot conducted a survey with 314 employees and 47 employers of small- to medium-sized businesses, we discovered some surprising results.
Take, for example, that 42% of employees would take a lower-paying job if it offered a greater degree of workplace flexibility. And according to research conducted with Fortune 500 companies, employees with higher work flexibility “voiced higher levels of job satisfaction and reduced levels of burnout and psychological stress than employees in the company who did not participate.”
Paid time off has been written about time and again, but workplace flexibility now demands further attention as the workplace becomes increasingly digital.
Check out the infographics the SquareFoot team pulled together below, which explore paid time off and flexible work, as well as employee and employer expectations around paid parental leave.
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In Justworks’ and SquareFoot’s joint survey, we found that employee and employer expectations align with reality in certain cases. For example, 60% of employees value flexible hours and working remotely, and our surveyed employers offer that at about the same parity.
There is more of a discrepancy in unlimited paid time off — surprisingly, it appears that employers offer unlimited PTO slightly more than employees value the perk.
That being said, 51% of surveyed employees would take a slight pay cut for unlimited PTO. Both flexible work hours and working remotely tie at 42%, and paid parental leave trailed behind at 32%.
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According to our survey, only 36% of surveyed employers offer paid parental leave. Nearly half of employees (49%) value it, though only 22% of employees surveyed believes paid parental leave has a positive impact on the workplace.
And when it comes to paid parental leave, only 4% of surveyed employees said they joined their company because of a paid parental leave offering. Alternatively, 35% of surveyed employees joined a company in part because of flexible work hours, with working remotely only slightly behind at 30%.
As the workplace continues to change, one finding is clear: increasingly flexible schedules for employees may help with multiple facets in a small- to medium-sized business, from recruiting to retention.
These infographics originally appeared on Entrepreneur.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal or tax advice. If you have any legal or tax questions regarding this content or related issues, then you should consult with your professional legal or tax advisor.