Understanding the impact of flexible working on the marketing industry

A new Flexible Working Bill is set to come into force in Spring 2024, and with 40% of the UK workforce looking for a new role in the New Year in the hopes of having a better work/life balance, it’s more important than ever for businesses to reassess their flexible working policies.

In a recent conversation with James Nally, Operating Director at Michael Page Marketing, we delved into the growing significance of flexible working in the marketing industry and the overall impact it has on both job seekers and employers.

We asked Nally his thoughts on key aspects, including the evolving priorities of marketing professionals, the implications of the impending Flexible Working Bill, and strategies to help businesses adapt to the changing landscape. Here’s what he told us.

Q: How much do you think marketers value flexible working when looking for a new role?

Flexible working continues to be a high priority for marketers. In fact, our recent Page Pulse survey  revealed that 30% of marketers are looking for a new role because they want a better work/life balance. This shows candidates now prioritise discussions on hybrid work models and flexibility over brand recognition, leading to a challenging scenario for once-dominant 'powerhouse' brands that fail to offer the desired flexibility.

Q: As well as flexible working, what else is important to marketing professionals right now?

The candidate's journey and emotional experience during the hiring process are increasingly pivotal. Timely company feedback reflects the level of care and investment in its talent pool. Requesting multiple interview stages and prolonging intervals between meetings pose significant challenges in attracting top talent. Moreover, the market continues to witness elevated financial expectations, with 50% of marketers that we surveyed saying they are looking for a new role because they want a higher salary. This is particularly prevalent in the entry and mid-level management positions, with candidates expecting top-end remuneration in line with current market trends. Our updated 2023 Salary Guides can ensure you’re paying your employees – new or existing – a fair amount in today’s market.
 
Q: Before the new Flexible Working Bill comes into action, what can businesses be doing right now to help give their employees the flexibility they want?

Stay attuned to their competitors' strategies and engage with ongoing market conversations. While flexibility is commonly associated with remote work, it's essential to prioritise accommodating diverse start and finish times, particularly for working parents. We're witnessing a growing trend where businesses are considering four-day work week contracts, enabling the hiring of experienced candidates beyond the role's requirements. This approach provides both the desired flexibility for employees and ensures optimal output for the business due to the increased expertise of the hired professionals. Furthermore, it's crucial to reevaluate budget allocation, ensuring that the budget remains consistent, even for defined four-day work week contracts. Recognise that the need for flexibility isn't solely about working from home but also about fostering an environment where employees feel comfortable requesting flexible arrangements, such as attending to personal matters like home maintenance or school events for their children.

Q: Why is giving employees good work/life balance and the right level of flexibility so important?

Retention is a pressing concern, especially in a competitive market where flexibility is increasingly sought after. Without a willingness to accommodate flexibility, businesses risk losing valuable talent to competitors who offer more adaptable work arrangements. 

Q: Overall, how much do you think the new Flexible Working Bill will impact the recruitment market?

While the workplace will undoubtedly experience some changes, the true impact will be on the evolving expectations within the workplace. Employers must remain vigilant and actively engage in discussions, as the marketplace will be flooded with pertinent information. Job seekers will increasingly demand more from their prospective employers. Being prepared for these changes and fostering open dialogue will be crucial for businesses to adapt to the evolving expectations in the recruitment market.

What’s next?

In a rapidly evolving landscape where employee expectations are shifting, understanding the importance of flexibility, and proactively adapting to these changes will be crucial for businesses aiming to attract and retain top marketing talent.

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