'Unusual' flexible arrangements among offerings for multigenerational workforce: report
Employers across Australia are now using flexibility as a "strategic approach" amid strong workforce demand to make them more attractive to jobseekers, according to a new report.
Mercer's latest Australian Benefits Review revealed that flexible work arrangements made up two of the top five benefits reported by organisations.
According to the report, 96% of organisations are offering flexible work provisions, while 89% are offering working from home (telecommuting).
The report further found that more organisations are also offering "more unusual flexible arrangements" to meet the diverse demands of a multigenerational workforce.
Some of these unusual arrangements are working four days a week with no loss of pay, as well as a compressed working year. Another organisation in the report is experimenting with the option to work four years at 80% of salary, with the fifth year as leave while still being paid that pro rata amount.
"We are seeing flexibility used as a strategic approach that connects employee benefits with organisational goals, making companies more attractive to top talent in a competitive market," said Nithya Abraham, General Market Leader, Digital & Insights, Mercer, in a statement.
Meanwhile, the most offered benefit in Australia is health and wellness programmes, as provided by 97% of organisations.
The report also highlighted how 29% of employers are now offering financial wellness programmes, an 11-percentage point increase in 2024.
These programmes come as employers recognise the financial strain on employees, which can affect various aspects of employees' lives and compromise their mental and physical health.
"While financial wellness programmes rank eighth among the wellness initiatives provided by employers, this upward trend shows that more companies recognise the importance of offering financial advice and support to their employees," the report read.
