Finding the right work-life balance is the most common priority among UK workers when they are choosing an industry to work in or an organisation to work for, according to new research from Market Financial Solutions.
The London-based specialist lender commissioned an independent survey of 2,000 UK adults to explore the factors shaping people’s career decisions. A report containing all the findings of the study can be accessed here.
When asked what was most important to them when choosing an employer, this is how people responded:
- A good work-life balance (45% selected this as one of their top three priorities)
- A competitive salary (43%)
- Job security (38%)
- Benefits and perks (19%)
- Ability to work remotely (16%)
- Ability to make a positive impact on the world (13%)
- Clear path for career progression (13%)
- Company values and culture which align with my own (11%)
- Opportunities to gain training or additional qualifications (10%)
- The future outlook for the sector or company (9%)
There were notable differences based on employees’ ages. For instance, 22% of 18-34-year-olds said they wanted a job that could make a positive impact on the world, whereas only 10% of those aged over 34 said the same. Likewise, the ability to work remotely was more likely be selected as a priority for the younger age bracket compared to over-55s (21% versus 8%).
A key focus of Market Financial Solutions’ research was people’s perceptions of working in financial services. It revealed that the majority (55%) of those not currently working in financial services would not consider doing so, with the perceived stress and rigidity of the industry among the main reasons.
Paresh Raja, CEO 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. 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.
“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. 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.”
