- | 12:00 pm
Majority of C-suite executives feel flexible working is at risk
According to a new survey, more than half of businesses are prioritizing financial readiness in the coming six months
In the wake of Covid-19, businesses adopted policies to improve employee morale and productivity while being more welcoming toward flexible work arrangements.
However, as organizations look for solutions to deal with the global economic slowdown, advancements in crucial areas of work life, such as flexible work schedules, are now in danger, according to a recent survey by LinkedIn.
About 76% of executives in the UAE are concerned that the advancements in flexible working and employee perks may stagnate due to the uncertain economic climate, according to the survey. Over 2,900 C-level executives from around the world participated in the survey.
Initiatives intended to improve employee well-being and skill development across UAE enterprises run the danger of being delayed. “The current global climate is slowing down progress in important areas of work life such as skills development, employee well-being and flexible work across UAE businesses,” according to LinkedIn.
While most CEOs in the UAE think that flexible working arrangements will continue for at least the next five years; more than three-quarters think flexibility may no longer be a top priority as business leaders focus on getting workers back to the office.
To save money and weather economic volatility, the study indicated that more than half (51%) of businesses are prioritizing financial readiness in the coming six months.
“This has resulted in a disconnect between company policies and employee preferences, and the difficult decisions that executives have been forced to make are taking a toll, with 35% admitting to feelings of guilt over these decisions,” the statement noted.
Although management priorities may have changed due to the relaxation of covid restrictions, many enterprises prioritize employee welfare. To retain employee morale and productivity, some businesses do not even plan to reduce costs, according to the survey.
Some employees have received incentives as a temporary fix for the rising cost of living, such as reduced transportation expenses (46%) or direct financial well-being aid (38%).
Workplace mobility will be prioritized, including allowing workers to move into new roles within the organization (41%), UAE-based executives stated.
Fast Company’s World Changing Ideas comes to the Middle East on 23 November 2022. Click here to know more.