Professional services firm PwC notes that the world of work in South Africa is vastly changed some two and a bit years post the Covid-19 pandemic.
A majority of employees who worked remotely as a result of the pandemic say that they are more productive and have grown accustomed to better quality and integration of work and life. Where this balance is threatened, and there is no room for negotiation with the employer, they’ll quit, PwC said.
“In truth, the flexibility required by today’s employees relates not only to how, when and where they work, but how they are rewarded — many companies continue to fall short in what they offer employees in two key areas: benefits and compensation – these were the reasons ranked highest by employees for wanting to change employers.”
What these statistics don’t consider, however, is how a lack of flexibility in working and/or remuneration arrangements affects the employees who stay rather than leave, said PwC. Managing human capital in the 21st century requires innovative motivational and reward methods, it said. For the time being, hybrid work is here to stay, said PwC. Companies must act swiftly to define their hybrid work model, make changes to processes and operating models, revamp strategic planning and, most importantly, re-look at remuneration arrangements, which all together attract and retain talent.
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