Trading Dollars for Time - How flexibility has become the preferred currency

As the battle to bring Australians back to the workplace intensifies, workers are asking for more than just financial incentives. Recent people2people research reveals that Australian employees are seeking a wage increases of up to 10 percent as compensation to give up their work-from-home arrangements. 


The study highlights a shifting landscape where flexible work arrangements have become a top priority for workers. In some cases, despite financial incentives being offered, more than half of Australians prefer to work from home with no pay rise rather than to accept a 5 percent increase to return to the workplace. 


Intriguingly, the research shows that some employees are not satisfied with a 5 to 10 percent pay bump. Almost two in five workers are holding out for more, desiring a pay increase of over 10 percent in exchange for sacrificing remote work. This suggests that for many, the benefits of time and working from home go beyond monetary compensation. 


This demand for flexibility is contributed to the external commitments employees have made in their lives since the COVID-19 pandemic. Employees have come to value their freedom, whether it be maintaining fitness routines, attending children's sporting events, or simply having the flexibility to manage household chores during what would have been commuting hours. 


In 2022, the focus was predominantly on salary increases to retain staff. However, as the landscape evolves, maintaining flexibility has now become a priority, with remote work now surpassing financial compensation in importance for many employees. 


While some companies are attempting to lure workers back to the office with increased financial incentives, implementing pay cuts for remote workers is impractical and could adversely impact employee retention. 


For those considering negotiating a pay rise for returning to the office, I recommend timing it during regular performance reviews and going beyond mere office attendance but instead demonstrating high levels of achievement and productivity. 


Australian workers are redefining the expectations, they have for their work lives. It is no longer just about the pay cheque but also about the balance, flexibility, time and quality of life that remote work can offer. As companies grapple with attracting talent back to the office, the evolving demands of workers indicate that the future of work is more than a simple financial transaction and flexibility is now the preferred currency. 



Get in touch

Bianca Luck • February 12, 2024

Find out more by contacting one of our specialisat recruitment consultants across Australia, New Zealand, and the United Kingdom.

Contact us

Share this article

Useful links

Search for jobs today

Got a vacancy?

What's happening in the market?

How do I prepare for my job interview?

Recent Insights

By Claire McNab May 26, 2024
In today's rapidly changing world, the call for environmental responsibility is louder than ever. With climate change looming as a critical global challenge, businesses are increasingly under pressure to play their part in mitigating its effects. One of the most significant ways they can contribute is by taking accountability for their sustainability practices, particularly in reducing carbon emissions.
By Esha Nischol May 19, 2024
In today's rapidly evolving landscape, automation is reshaping industries and transforming the way we work. While automation offers numerous benefits, including increased efficiency and productivity, it also presents challenges and uncertainties for the workforce. Understanding the opportunities and challenges of automation on employment is crucial for individuals and organizations alike as we navigate the future of work.
By Hamish Lamberton May 15, 2024
In recent years, the rise of remote work has revolutionized the way companies approach recruitment. With advancements in technology and a growing acceptance of virtual communication tools, many organizations are now embracing remote recruitment strategies to attract and hire top talent. In this blog post, we'll explore how companies are adapting to virtual hiring processes and the strategies they're employing to succeed in this new era of recruitment. One of the key challenges of remote recruitment is creating meaningful connections with candidates without the benefit of face-to-face interactions. To overcome this obstacle, companies are leveraging video conferencing platforms to conduct virtual interviews and assessments. These tools allow recruiters to assess candidates' communication skills, professionalism, and cultural fit, all while providing a more personal touch than traditional phone interviews. In addition to video interviews, companies are also utilizing virtual recruitment events to engage with candidates and showcase their employer brand. Virtual career fairs, networking sessions, and informational webinars allow companies to connect with a broader pool of candidates regardless of geographic location. By hosting these events online, companies can reach candidates who may not have been able to attend in-person events, thereby expanding their talent pool and increasing diversity. Another important aspect of remote recruitment is the use of technology to streamline the hiring process. Applicant tracking systems (ATS) and recruitment software help companies manage job postings, track candidate applications, and collaborate with hiring teams more efficiently. These tools automate repetitive tasks, such as resume screening and scheduling interviews, freeing up recruiters to focus on building relationships with candidates and making strategic hiring decisions. Furthermore, companies are investing in employer branding initiatives to differentiate themselves in a competitive talent market. Through social media, company blogs, and virtual office tours, organizations can showcase their company culture, values, and employee benefits to prospective candidates. By highlighting their unique selling points and demonstrating their commitment to employee satisfaction, companies can attract top talent and create a positive candidate experience. Finally, remote recruitment requires a strong emphasis on communication and collaboration among hiring teams. With team members working from different locations, it's essential to establish clear channels of communication and set expectations for roles and responsibilities. Regular check-ins, status updates, and feedback sessions ensure that everyone is aligned and working towards common hiring goals. In conclusion, remote recruitment strategies are becoming increasingly essential for companies looking to stay competitive in today's digital age. By embracing virtual hiring processes, leveraging technology, and prioritizing communication and collaboration, organizations can attract and hire top talent regardless of geographic location. As remote work continues to evolve, companies that adapt and innovate in their recruitment strategies will be best positioned to succeed in the future of work.

NZ's 2024 Employment

and Salary Trends Report

Salary trends, talent attraction and retention strategies

Request your copy
Share by: