Commenting on the findings, Rosemary Lemon, Group Head of Reward at Hays said: “We know from speaking to our own employees that one of the main financial pressures being put on young people these days is the difficulty of getting on the housing ladder or finding good quality places to rent.
“For those renting, many struggle with the upfront costs of deposits which can be equal to, if not more than, a month’s salary – if people are worried about money it can have an impact on their wellbeing and that can affect how focused and engaged they are in the workplace.”
Responding to the needs of its people, Hays began offering loans to help with deposits and fees before being introduced to Get Living when they learned that they already had a solution to this. Hays is one of 20 businesses signed up to Get Living’s Preferential Partnership programme.
Steven Osei who leads Preferential Partnerships at Get Living said: “When Get Living was established in 2013 we challenged the norms of renting by removing all fees and treating our residents like customers. Then two years ago, we made the bold decision to scrap security deposits. We knew that this was one of the main gripes for our residents and it seemed unnecessary for us to have all this money tied up when we know our residents look after their homes. In doing so we put £3m back into renters’ pockets.
“We also offer three-year tenancies with a resident-only break clause as standard. This means after six months residents can give two months’ notice at any time, giving them the dual benefit of security and flexibility. As our research shows, employees are moving jobs more often and their expectations for how they should be rewarded are changing. To keep up with the competition, employers need to reflect workers more flexible lifestyles.”
Get Living now has partnerships with top employers including Deloitte, Linklaters, Golin and Hays as more businesses are recognising the benefits of taking a vested interest in the living situations of their people to support their overall wellbeing.
When asked about their work/life balance, only 60% of those surveyed said they were happy with this with a third citing issues with their home and commute as the cause of their unhappiness.
Steven continues: “In this hyper-connected world an employer’s duty of care no longer ends at the office door. Wellbeing starts at home and we can support this by offering a simple move in process and quality, well-managed homes.”
On top of Get Living’s market-leading no deposits, no fees and longer tenancies offering, Preferential Partnerships residents benefit from two weeks’ rent free and upgrades them to superfast fibre optic broadband to enhance their home-working experience.
Get Living currently manages more than 2,000 homes across at East Village, the former 2012 London Athlete’s Village in Stratford, and Elephant Central in Elephant and Castle. This spring Get Living will launch a further 500 homes at East Village with Victory Plaza and its first neighbourhood outside of London at Middlewood Locks in Manchester.
To find out more about how Get Living offers a better way of renting for your people, please email Steven Osei at [email protected]
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