Flexible working arrangements continue to be in high demand, as reported by Adzuna, a popular jobsite. In the month of July, there were 176,389 job vacancies listed for “hybrid” roles, offering employees the opportunity to work from home on certain days and in the office on others. This represents a 44% increase compared to the same month last year.
In response to rising inflation and increased grocery bills, some employers are now offering free food to their staff. Adzuna’s data reveals that in July, there were 5,307 job vacancies advertising the provision of free food or breakfast, a 48% increase from 2022. Additionally, other cost-saving perks on the rise include free gym membership (up 10%), exercise classes (up 50%), and childcare (up 113%).
While extravagant perks such as unlimited vacation and work-from-anywhere policies are becoming less common due to budget cuts, employers are strategically aligning their benefits packages to support their employees during challenging times. This includes offering free meals, childcare support, and free exercise classes, reflecting the tough economic climate.
According to Andrew Hunter, co-founder of Adzuna, although flexible working arrangements remain highly sought after, employers are also exploring alternative options like shorter workweeks to attract top talent. As budgets tighten, essential benefits like mental health days are being prioritized, while non-essential perks such as unlimited vacation, duvet days, and team holidays are being trimmed down.
Another job site, Indeed, has also observed a shift in the types of benefits being advertised by employers. Over the past four years, the mention of free alcohol in job postings has decreased by 70%, while on-site gyms have seen a 114% increase. Jack Kennedy, an economist at Indeed, attributes this shift to the combination of the pandemic, a tight labor market, and the cost of living crisis, which forced employers to rethink the perks they offer their workers.
Instead of focusing on fun perks like ping-pong and pool tables, employers are now designing more holistic benefit packages that prioritize physical and mental wellbeing. This is a response to the national health crisis and the growing recognition of the importance of workplace empathy.
Overall, the frequency at which young people switch jobs has always been relatively high. As Jon Boys, senior labor market economist at the Chartered Institute of Personnel and Development (CIPD), explains, “To be young is to have low tenure.”
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