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The self-serving employee survey

by | Sep 11, 2023

Investor’s Notebook

The self-serving employee survey

by | Sep 11, 2023

A recent article by Knight Frank titled “The Secret to a Happy Workforce: Unveiling the Most Valued Office Perks” delves into the enticing world of workplace benefits. From beanbag-filled lounges to gourmet cafeterias, the piece paints a picture of an employee’s haven. Yet, amidst this rose-tinted portrayal, a vital piece of the puzzle seems conspicuously absent: the critical importance of an adequate and fair salary.

Let’s not mince words. This article, although seemingly well-intentioned, appears to be another push in the grand corporate scheme to lure workers back to the office. While innovative office designs and thoughtful perks can make office life more palatable, to present them as the ultimate solution for employee contentment is misleading, especially in our current economic climate.

Employees today are grappling with soaring living costs, unpredictable market dynamics, and an ever-present uncertainty about the future. In such circumstances, a comfortable payslip is not just a luxury; it’s a lifeline. The primary concern of many is to ensure that they can pay their bills, service their mortgages, and secure a decent living for their families. Ironically the CEO salaries for FTSE 100 firms have risen at record rates. Do you find this frustrating? Well bad news; corporate don’t care, but at least they give us fancy coffee…

To divert the conversation from this pressing concern and redirect it towards office perks seems not just disingenuous but also tone-deaf. It’s as if someone were to offer you a state-of-the-art umbrella when you’re seeking shelter during a storm.

This isn’t to say that workplace amenities don’t have value. In a booming economy, where basic financial needs are comfortably met, employees might appreciate, or even look forward to, such perks. But we’re not in such an economic state. For many, the thought of a beanbag or a free latte doesn’t compensate for the stagnating wages and the looming threat of inflation.

Knight Frank’s article inadvertently highlights a broader, more systemic issue: the widening chasm between the corporate echelons and the average worker. There seems to be a bubble within which these corporate decision-makers reside, wherein their perceptions of ground realities are drastically skewed. This detachment isn’t just problematic; it’s dangerous. It fosters an environment where genuine worker concerns are not only neglected but also dismissed as secondary or even frivolous.

Workers, on their end, are caught in a precarious position. They’re often reluctant, or even fearful, to voice their true concerns. This silence can be attributed to several factors: job insecurity, fear of retaliation, or just the belief that their voices won’t be heard or valued. The onus, therefore, is on companies to be proactive, to seek genuine feedback, and to make decisions rooted in empathy and understanding.

The narrative needs to shift. Instead of presenting office perks as the “secret” to happiness, companies should start by ensuring that their employees aren’t financially stressed. An employee constantly worrying about their next bill or an impending mortgage payment isn’t going to be placated by a pool table or a sushi bar in the cafeteria.

Moreover, the push to get workers back into the office post-pandemic needs a more thoughtful approach. The past few years have shown that remote work is not only feasible for many roles but also preferred by a significant portion of the workforce. The flexibility it offers, the commute it eliminates, and the work-life balance it potentially fosters are all tangible benefits. If companies are keen on getting employees back, they need to provide compelling reasons beyond superficial perks.

This all circles back to a deeper, fundamental question: what do workers truly want? If corporate leaders took the time to genuinely engage with this question, they might find that the answers are simpler than they think. A fair wage, job security, opportunities for growth, a healthy work environment, and genuine respect and recognition for their contributions.

Knight Frank’s article may have intended to shed light on the positive aspects of modern workplaces. Still, it inadvertently exposes a corporate mindset that seems disconnected from the true desires and needs of the workforce. It’s high time for a recalibration, a return to basics, and a renewed focus on what truly matters.

In the end, if companies genuinely wish to foster a happy and productive workforce, they must step out of their bubbles, listen intently, and act with both empathy and pragmatism. To the top directors and board members of Real Estate firms in the UK, don’t be surprised when the next generation have a much higher and constant employee turnover than previous generations. It was you that had your fingers buried in your ears and hands over our mouths when we tried to voice our concerns.

About John Gallagher

About John Gallagher

John Gallagher is the pseudonym for a young graduate that works for a major global real estate firm. In a series of articles for The PC “John” will tell us what his generation really thinks.

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