The world of work has undergone a seismic shift in the wake of the coronavirus pandemic, and a new global survey reveals that employees’ priorities have transformed along with it. In a groundbreaking first, work-life balance has surpassed salary as the number one factor for workers worldwide when evaluating current or prospective jobs.
The Rise of Work-Life Balance
Recruitment giant Randstad’s annual review of the global workforce, which surveyed 26,000 employees across 35 countries, found that 83% ranked work-life balance as their top consideration, edging out both job security (83%) and pay (82%). This marks the first time in the survey’s 22-year history that work-life balance has claimed the top spot, signaling a profound realignment of employee priorities.
“Work today is about more than just a pay cheque. Talent globally are looking for workplaces that align with their personal values, aspirations and circumstances,” explained Randstad CEO Sander van ‘t Noordende. This shift underscores the new baseline for the world of work, where employees are demanding more from their employers even as they navigate challenging economic conditions and rapid technological change.
The Quest for Better Conditions
Far from being passive, workers are actively advocating for the changes they desire. The survey found that nearly half (45%) of respondents had campaigned for improved conditions at their workplace, while almost a third (31%) had left a job due to insufficient flexibility.
Compensation is still important but talent today have multifaceted expectations.
– Sander van ‘t Noordende, Randstad CEO
Generational Divides
The study also highlighted generational differences in work priorities. Balancing professional and personal life was most important to Gen Z workers born between 1997 and 2012, with 74% ranking it as their top concern compared to just 68% prioritizing pay. However, the significance of both factors increased with age, as 85% of Baby Boomers aged 61-70 highly valued work-life balance, while 87% prioritized salary.
Flexibility Becomes the Norm
The survey also found that flexible working arrangements have become increasingly entrenched in organizations globally. Year-over-year, the proportion of employees reporting flexibility in their working hours jumped from 57% to 65%, while location flexibility rose from 51% to 60%. Additionally, 64% said they could choose the intensity of their work, suggesting employers are granting their staff greater autonomy to integrate their jobs into their lives.
- Employees with schedule flexibility: 65% (up from 57%)
- Employees with location flexibility: 60% (up from 51%)
The Importance of Belonging
Despite the rise of remote work, a sense of community remains crucial for employees, with 83% desiring a workplace that provides a feeling of belonging. More than half (55%) said they would quit a job if they felt they didn’t fit in, a significant increase from 37% the previous year. This highlights the need for employers to foster inclusive cultures even in hybrid or remote environments.
Implications for Employers
These findings present both challenges and opportunities for organizations as they navigate the post-pandemic world of work. To attract and retain top talent, companies must:
- Prioritize work-life balance in job design and policies
- Offer flexible working arrangements as a default
- Foster a strong sense of community and belonging
- Tailor approaches to different generations’ needs
As van ‘t Noordende noted, “Talent globally are looking for workplaces that align with their personal values, aspirations and circumstances.” Employers who recognize and respond to these multifaceted expectations will be best positioned to win the war for talent in the years ahead.
The Randstad survey makes clear that the world of work has changed profoundly and irreversibly. By putting work-life balance at the forefront, offering true flexibility, and cultivating cultures of belonging, organizations can turn this disruption into an opportunity to build more engaged, productive, and loyal workforces for the future.
