Understanding what candidates truly value is crucial for attracting and retaining top talent. At Flexa, we've analysed over 98 million data points on candidate demand, company EVPs, and employee workplace satisfaction to provide insights into the future of work and employee preferences.

This article will cover:

1. The top 8 workplace benefits candidates are searching for in 2024

2. How to align these benefits with your Employee Value Proposition (EVP)

3. Data spotlight: The rising demand for the 4.5-day work week

Data spotlight: The rising demand for the 4.5-day work week

Our data reveals a significant shift in work week preferences. In the past six months, candidate demand for a 4.5-day work week has increased by from 8% to 33%. This trend reflects the ongoing evolution of traditional work arrangements, driven by changes in technology, societal norms, and employee expectations. From the traditional 9-to-5 office routine, we've seen a shift towards a wider variety of working arrangements. 

Up and coming iterations of an evolved working week include the 4-day week, 4.5-day week, and 9-day fortnight.

The 4.5-day week is something we have in place at Flexa. This may work differently for each company; however, we have half-day Fridays, meaning our team can switch off for the weekend earlier and come back refreshed on Monday. If you are a company considering changing to a more evolved working week we recommend watching our latest webinar where Joe O'Connor, CEO and Co-founder of Work Time Reduction shares his strategies and tips on navigating a more evolved working week.

The 8 most sought-after workplace benefits in 2024

Based on millions of searches performed on Flexa, here are the top eight benefits candidates are looking for in their next role, listed in order of popularity:

1. 🏡 Location flexibility

2. 🤑 Salary

3. 🌍 A work-from-anywhere scheme

4. ⏰ Hours flexibility

5. 🦕 An evolved work week (4-day / 4.5-day week)

6. 🧩 Alternative working patterns (part-time / compressed hours)

7. 🧠 Mental health support

8. 🏖️ Enhanced annual leave

Let's examine each of these benefits in detail:

1. Location flexibility 🏡

What it is: The ability for employees to choose their work location, whether it's from home, a co-working space, or another remote location.

Why employees care: Location flexibility allows for better work-life balance, reduced commuting time and costs, and increased job satisfaction and productivity. It also benefits workers in rural locations.

2. Salary 🤑

What it is: The monetary compensation employees receive for their work.

Why employees care: A competitive salary is crucial for financial stability, meeting personal goals, and feeling valued for their contributions. It's often one of the primary considerations for potential employees when evaluating job offers.

3. Work From Anywhere Scheme 🌍

What it is: A WFA policy that allows employees to work from any location, potentially even internationally, for a set number of days each year.

Why employees care: This offers ultimate flexibility for employees to travel, live in different places, and manage personal commitments without being tied to a specific location.

Companies offering this benefit: Boomi, Not On The High Street, and Huel.

4. Hours flexibility ⏰

What it is: The ability to choose working hours rather than adhering to a strict 9-to-5 schedule.

Why employees care: Flexible hours help employees better manage their work-life balance, accommodate personal commitments, and often result in higher job satisfaction and productivity.

Companies offering this benefit: Mars, Mondelez, and Attractions.io.

5. Evolved work week 🦕

What it is: A condensed work week, such as a 4-day or 4.5-day week, where employees work fewer days without necessarily working longer hours on the working days.

Why employees care: This allows for extended weekends, providing more time for rest, personal projects, and family, leading to improved mental health and job satisfaction.

Companies offering this benefit: Collin Property Recruitment, Simprints, Atom Bank, and People & Transformational HR.

6. Alternative working patterns 🧩

What it is: Non-traditional work schedules, such as part-time roles or compressed workweeks where full-time hours are worked over fewer days.

Why employees care: These patterns offer greater flexibility to manage personal responsibilities, pursue further education, or handle other commitments, making it easier to maintain a work-life balance.

7. Mental health support 🧠

What it is: Resources and initiatives aimed at supporting employees' mental well-being, such as counselling services, mental health days, and wellness programs.

Why employees care: With increasing awareness of mental health issues, employees value employers who prioritise their well-being, providing support that helps them stay healthy and productive.

8. Enhanced annual leave 🏖️

What it is: Offering more than the standard number of holidays.

Why employees care: Additional leave allows for more rest and relaxation, travel, and time with family and friends, which are essential for maintaining work-life balance and preventing burnout.

How to align workplace benefits with your EVP

To effectively incorporate these benefits into your Employee Value Proposition, consider the following steps:

1. Identify the right benefits for your EVP

•    Understand your workforce's diverse needs
•    Gather feedback through surveys or interviews
•    Aim for a range of benefits catering to different needs

2. Review existing policies and benefits

•    Assess current offerings against candidate preferences
•    Identify areas for improvement or refinement
  

3. Communicate your policies

•    Clearly explain new or updated policies to all employees
•    Provide training to managers on implementing flexible working arrangements
•    Encourage open conversations and address concerns
  

4. Promote your benefits and policies

•    Use platforms like Flexa to showcase your workplace benefits
•    Ensure job postings and recruitment materials highlight your unique offerings