Career Advancement or Flexibility? What is more important?

Career Advancement or Flexibility? What is more important?

In the aftermath of Covid-19, there has been a notable shift in individuals' perspectives regarding their respective career opportunities. The focus has moved towards prioritising flexibility above anything else, resulting in an apparent reduction in the willingness to make extensive life sacrifices such as long commutes and in-person commitments.

In the middle of 2020, a series of events transpired during which both candidates and clients were in the process of grasping the details of a hybrid working model. This new model held significant implications for the structure of companies and the dynamics within teams. During this, a substantial portion of individuals within the jobs market showed hesitancy towards pursuing job transitions, largely due to their uncertainty surrounding their respective teams' enduring policies regarding future hybrid work arrangements.

Fast forward to the present, three years later, with the hybrid working model firmly establishing its presence, candidates still perceive flexibility as the key component when switching jobs or seeking new job opportunities. The number of applicants or people interested in a role is simply subject to ‘does this suit my personal life?’ If a perspective employer doesn’t have the level of flexibility expected from a potential candidate, they simply will not consider the opportunity even though this could result in a promotion in title, responsibility, and remuneration.

Within the financial services sector, a minority of companies adheres to a strictly in-office, five-day work week structure. This prompts the question: do these companies align with the preferences of the broader workforce?

If companies find themselves in a position whereby, they are seeking new talent, they must undertake a comprehensive review of their internal policies, or they run the risk of staff retention and attraction issues, they must align with these new preferences in the ‘new normal’.