Almost half of UK employees say work-life balance is their leading consideration when choosing a job, new research suggests.
A study by Market Financial Solutions has found that a good work-life balance is the most common priority among workers deciding which industry to enter or which organisation to join.
The survey of two thousand adults highlights shifting expectations around employment, as well as contrasting views among different age groups.
Respondents were asked to select their top three priorities when choosing an employer. A good work-life balance was chosen by 45%, placing it ahead of salary on 43% and job security on 38%. Benefits and perks followed on 19%, with 16% citing the ability to work remotely. Making a positive impact on the world, which ranked at 13%, was selected more frequently by younger employees than older ones.
The research shows that younger workers place greater emphasis on purpose and flexibility. Among 18 to 34 year olds, 22% said the ability to make a positive impact mattered to them, compared with 10% of those over 34. Remote working also demonstrated a clear generational divide, with 21% of younger adults regarding it as a priority, against 8% of those over 55.
The study examined perceptions of working in financial services and found that 55% of people outside the sector would not consider a career within it. Many respondents viewed the industry as stressful and rigid, suggesting that concerns about workplace culture remain a barrier to recruitment.
Paresh Raja, chief executive of Market Financial Solutions, said:“As an employer, understanding the wants and needs of both current and prospective employees is really important, and this research provides really valuable insight in that regard.”
He said: “There are three factors that rank comfortably above the others when it comes to people’s priorities when assessing job options: work-life balance, salary and security.”
Raja added that employers should acknowledge the wider set of motivations influencing people’s choices.“But the data highlights that there are many factors that matter to people in their career choices and, crucially, those factors will vary based on someone age and seniority,” he said.
He continued: “We can see that the purpose behind their jobs, as well as things like the ability to progress or be part of a growth industry, are all still important.
“It underlines that point that no organisation can fixate purely on competitive salaries; to attract and retain the best staff, a rounded view of what motivates and engages employees is more important than ever.”
