New study reveals attitudes towards remote work, hours and wages in the UK finance professionals.
Spendesk — the 7-in-1 spend management solution for small and medium-sized businesses (SMBs) — has released the results of a YouGov survey of how UK finance professionals view remote work, the four-day week and the salary increases.
The report’s key findings reveal that 80% of respondents think wages should be raised to offset cost-of-living pressures – but only 21% of companies plan to do so. 77% would prefer a four-day workweek, although only 5% of their employers are considering it.
And when it comes to remote work, 50% of young employees would leave their jobs if they were forced back to the office.
Satisfaction with remote work is high, but there are concerns about office ‘favoritism’
The YouGov survey found that there is widespread satisfaction with remote work opportunities among finance professionals, with nearly two-thirds (63%) of respondents satisfied with the arrangements their companies offer. A third (32%) of respondents would consider quitting their job if they were forced to return to the office full time, rising to 47% in the 35-44 age group.
Satisfaction with remote working conditions varies across the UK: North West, West Midlands and Wales scored lowest (54%, 52% and 50% respectively), while London, East Midlands and Yorkshire scored lowest. the best score (69%, 70). % and 70%). However, financial workers in London feel the greatest pressure from employers to come to the office; experienced by 33% of respondents in the capital compared to the national average of 19%.
Anxiety about the more favorable treatment of employees in the office is split evenly, with 40% worried and 39% not; although the 18 to 24 age group with less job security was the most worrisome (65%). About half (46%) do not lose face-to-face interaction when working remotely, although a quarter do, and 10% reported feelings of isolation. Only 5% of respondents said their company had allocated a dedicated budget for flexible working.
Strong desire for inflation-friendly wages and a four-day workweek
When it comes to pay, 77% of respondents don’t think remote workers should be paid less, while 80% think general wages should be increased because of rising cost of living and inflation – although only 21% said they your companies plan to do this.
More than three-quarters (77%) of financial workers in the UK would like a four-day workweek. Their employers, however, are not so enthusiastic: only 5% of respondents said their company plans to introduce the policy.
Commenting on the survey, Paddy O’Neill, Country Manager, UK and Ireland, at Spendesk, said: “Remote and hybrid work practices are here to stay, and it is obvious from the survey results that UK financial workers give great importance to such agreements. It is also clear that there is still room for improvement when it comes to employers, with very few respondents knowing whether their companies have a flexible working budget or a four-day week policy.
“Looking ahead, it will be interesting to see how employers respond to ensure worker retention, particularly with a looming recession and rising inflation rates.”
