A third of Aussie workers would consider a small pay cut if the job offered better work-life balance, more enjoyable work or a greater sense of fulfilment, the LinkedIn quarterly Workforce Confidence Index report reveals.
One in four workers would also take lower pay in exchange for a stronger chance to grow in the role, more flexibility to work onsite or remote, more inspiring company leadership, and a greater focus on their whole self at work, according to the index released this week.
Cayla Dengate, LinkedIn Careers Expert, said a focus on workplace flexibility may be driven by many Aussies taking stock of what’s most important in their life following two years of disruption.
“Gen-Z is the generation most likely to prioritise better work-life balance, while baby boomers were least likely,” she said in a statement.
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Dengate added that although younger workers are driving demand for better non-cash benefits, “Aussies of all generations are looking for roles with benefits like flexible work arrangements, a four-day work week and unlimited PTO”.
She said Australians have more confidence overall about their work experience and education, their organisation’s recent performance, and the time they can devote to job seeking, than at the start of the year.
The Workplace Confidence Index shows Australian workers are primarily interested in benefits that give them more control of their time, with younger Aussies driving the interest in these areas and in free mental health benefits.
In August 2021, 41% of Australians were working from home, according to the Australian Bureau of Statistics.
LinkedIn found remote working has risen by 7.7% since last year, even as social distancing measures ease, and its increasing availability suggests employers are becoming more open and flexible.
Marisa Ebsworth runs her jewellery business, Nem Be, from her home workshop in Perth and said this enables her to avoid prohibitive overheads.
Manufacturing the jewellery and doing her marketing at home allows her business to be more efficient, sustainable, and competitive, she told SmartCompany.
Working from home takes extra structure, “to feel productive” and “to get things done,” she said, but everything she needs is convenient and in one place.