Marvin OnumonuWorkers prioritised flexible working over salary from their early 30s, according to research from Phoenix Insights.
The study revealed that employees aged 30 to 34 were more likely to want fewer working hours and were willing to accept less pay.
This shift in preference for reduced hours extended to those in their 50s, who were twice as likely to want to work less rather than more.
Flexibility in working hours allowed employees to balance their jobs with personal commitments, like childcare, as well as pursuits beyond work.
A young worker from the focus group said: “Covid has changed things. People want to pursue interests beyond work. Part-time shouldn’t just be for parents.”
Patrick Thomson, head of research analysis and policy at Phoenix Insights, said: “Flexible working has become a hot topic of discussion with public debate centred on whether people should work more days in the office instead of from home.
“However, flexibility is much more than the hybrid working debate.
“It is about how we can make work more sustainable for the future and accessible to a wider proportion of society who otherwise might be excluded or driven from the workplace.”
Thomson added: “Getting this right is important not just for individuals but also critical for boosting productivity and tackling the issue of economic inactivity.
“Our research shows that most people think that they could do their job or one like it by the time they’re 60, but most think they couldn’t do it to the age of 70.
“With longer working lives becoming the norm, something needs to change.”
He said: “People are still facing financial hardship from the fall out of the cost-of-living crisis and there are currently millions of people in the UK under saving for their future retirement.
“Supporting people to remain in work and continue to earn and save while they balance other life commitments, caring responsibilities or ill health will go some way to addressing these challenges.”
The study found that 17 million people in the UK were under-saving for retirement.
Mike Ambery, retirement savings director at Standard Life, part of Phoenix Group, said: “When people fall out of work their future retirement income isn’t always front of mind.
“But time out of employment can have a double whammy effect of no pension contributions and losing the benefit of valuable contributions from the employer.
“Improving flexible working practices so more people can remain earning and saving whether early in their career or nearing retirement age is a key part of addressing how we can start to address retirement income adequacy.”
