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ix out of 10 employees in Portugal have flexible benefits. Flexibility in pay increases with flexibility at work. And it has never been so talked about as it is now, inside and outside companies.
Six out of 10 employees in Portugal have flexible benefits. Out of the total number of participants, 52.6% work in a hybrid regime, 22.8% work remotely and 24.6% work in the office. The attribution of flexible benefits varies in direct relation to work flexibility, that is, the more flexible the work arrangements are in terms of space and schedule, the greater flexibility there is in remuneration. These are some of the conclusions of “The state of compensation 2021-22 - a study on the future of work and the work of the future”, organised by Coverflex. This study had the support of the Portuguese People Management Association (APG). The survey was conducted online for three weeks and collected responses from 814 participants, most of which work in a hybrid work regime. About 60% of the participants would like to experience the four-day workweek logic. In other words, they would like more flexibility.
I have to say that having the word “flexibility” as one of the main buzzwords of a study called “The State of Compensation” is far from surprising. In fact, it is with this desired and valued flexibility as a principle that Coverflex has been working for a year in the Portuguese market.
I have to say that having the word “flexibility” as one of the main buzzwords of a study called “The State of Compensation” is far from surprising. In fact, it is with this desired and valued flexibility as a principle that Coverflex has been working for a year in the national market.
The study, open to the entire business and human resources community, has as its fundamental objectives to survey and map issues related to flexibility (of both time and workspace), compensation and flexible benefits, and diversity and inclusion policies in Portuguese companies or companies who operate in Portuguese territory, as well as meeting the challenges, understanding trends and helping to demystify new dynamics of work and interaction between teams. But it is the concept of flexibility, and its development across the future of work and the work of the future, that reflects us as participants in the profound transformation that the job market demands of us.
The way we work is changing, but compensation - salary, bonuses, company equity and benefits - hasn't evolved for decades. The current rigid 'one-size-fits-all' approach is outdated and fails to meet the needs of the modern job market. As entrepreneurs, having created and led companies in different sectors, we have repeatedly faced the same problems when dealing with employee compensation: multiple compensation providers, lack of transparency, lack of reliable information and flexibility, providing an experience far from the ideal one, both for us as employers and for our teams. Coverflex is changing this: the all-in-one platform allows all companies - regardless of their size - to design, function and customise their compensation offers beyond salary, with health insurance, meal allowance, social benefits and discounts.
At Coverflex, we are looking at flexibility and, specifically, flexibility as a guarantee of individuality, as a key issue when it comes to empowering companies and employees for the future of work. The thing is, when looking carefully at the market in which Coverflex works and grows, we quickly realise that flexibility is - and will be - the mother of all revolutions.
At Coverflex, we are looking at flexibility and, specifically, flexibility as a guarantee of individuality, as a key issue when it comes to empowering companies and employees for the future of work. The thing is, when looking carefully at the market in which Coverflex works and grows, we quickly realise that flexibility is - and will be - the mother of all revolutions.
The full study is available for download here.
This article was originally published in the issue of December 2021 of the Human magazine.
