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SHRM Survey Findings: State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees January 10, 2013.

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Presentation on theme: "SHRM Survey Findings: State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees January 10, 2013."— Presentation transcript:

1 SHRM Survey Findings: State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees January 10, 2013

2 This is part four of a series of SHRM surveys examining the state of employee benefits in the workplace. The following topics are included in this six-part series: Part 1: Wellness initiatives Part 2: Flexible work arrangements Part 3: Health care Part 4: Leveraging benefits to retain employees Part 5: Leveraging benefits to recruit employees Part 6: Communicating benefits Introduction 2 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

3 Leveraging Benefits to Retain Employees at All Levels of the Organization Do organizations leverage their benefits program to retain employees at all levels of the organization? One in five (20%) organizations reported leveraging their benefits program to retain employees. What benefits offerings have been leveraged to retain employees at all levels of the organization? Organizations reported health care (72%) and retirement savings and planning (58%) were the benefits most frequently leveraged to retain employees. In the next three to five years, what benefits offerings will increase in importance to help organizations retain all employees? Organizations indicated that retirement savings and planning and health care are the benefits that will increase in importance with respect to retaining employees. Key Findings 3 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

4 Leveraging Benefits to Retain Highly Skilled Employees Are organizations leveraging their benefits program to retain highly skilled employees? About two out of 10 (19%) organizations reported leveraging their benefits program to retain highly skilled employees. What benefits offerings have been leveraged to retain highly skilled employees? Health care (69%), professional and career development (54%), and retirement savings and planning (46%) were the benefits most frequently leveraged to retain these employees. In the next three to five years, what benefits offerings will increase in importance to help organizations retain highly skilled employees? Organizations indicated that 1) retirement savings and planning and 2) flexible working benefits are the benefits that will increase in importance with respect to retaining highly skilled employees. Key Findings 4 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

5 Leveraging Employee Benefits to Retain High-Performing Employees Do organizations leverage their benefits program to retain high-performing employees? One in five (20%) organizations reported leveraging their benefits program to retain high- performing employees. What benefits offerings have been leveraged to retain high-performing employees? HR professionals reported health care (58%), professional and career development benefits (55%), flexible working benefits (48%), and retirement savings and planning benefits (47%) as the most frequently leveraged to retain these employees. In the next three to five years, what benefits offerings will increase in importance to help organizations retain high-performing employees? Organizations indicated that 1) retirement savings and planning, 2) health care, and 3) professional and career development are the benefits that will increase in importance with respect to retaining high-performing employees. Key Findings 5 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

6 Leveraging Benefits to Retain Employees at All Levels of the Organization

7 7 Over the past 12 months, has your organization had difficulty retaining employees at all levels of the organization? Note: n = 389. Respondents who answered “not sure” were excluded for this analysis. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

8 8 Over the past 12 months, has your organization leveraged your benefits program to retain employees at all levels of the organization? Note: n = 379. Respondents who answered “not sure” were excluded from this analysis. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

9 9 Which of the following benefits has your organization leveraged to retain employees at all levels within your organization? Note: n = 74. Respondents who answered “not sure” and those whose organizations did not leverage their benefits program to retain employees at all levels within the organization were excluded from this analysis. Percentages do not equal 100% due to multiple response options. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

10 10 Within the next three to five years, what benefits offerings will increase or decrease in importance in your organization’s efforts to retain all levels of employees? Note: n = 58-74. Respondents who answered “not sure” and whose organization did not leverage their benefits program to retain employees at all levels within the organization were excluded from this analysis. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

11 Leveraging Benefits to Retain Highly Skilled Employees

12 For the purpose of this survey, a highly skilled employee is defined as any employee with skills that are critical to the short- and long-term success of their operating unit or the organization. Definition 12 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

13 13 Over the past 12 months, has your organization had difficulty retaining highly skilled employees? Note: n = 389. Respondents who answered “not sure” were excluded for this analysis. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

14 Over the past 12 months, has your organization had difficulty retaining highly skilled employees? 14 Comparisons by organization staff size 2,500 to 24,999 employees (42%) > 1 to 99 employees (21%) 100 to 499 employees (20%) 500 to 2,499 employees (21%) Note: Only statistically significant differences are shown. Comparisons by organization staff size Organizations with 2,500 to 24,999 employees are more likely than organizations with 1 to 2,499 employees to have had difficulty retaining highly skilled employees over the past 12 months. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

15 15 Over the past 12 months, has your organization leveraged your benefits program to retain highly skilled employees? Note: n = 371. Respondents who answered “not sure” were excluded for this analysis. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

16 Over the past 12 months, has your organization leveraged your benefits program to retain highly skilled employees? 16 Note: Only statistically significant differences are shown. Comparisons by organization sector Nonprofit organizations are more likely than publicly owned for-profit organizations to leverage their benefits program to retain highly skilled employees. Comparisons by organization sector Nonprofit (23%)>Publicly owned for-profit (8%) State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

17 17 Which of the following benefits has your organization leveraged to retain highly skilled employees? Note: n = 71. Respondents who answered “not sure” and whose organizations did not leverage their benefits program to retain highly skilled employees were excluded from this analysis. Percentages do not equal 100% due to multiple response options. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

18 18 Within the next three to five years, what benefits offerings will increase or decrease in importance in your organization’s efforts to retain highly skilled employees? Note: n = 52-68. Respondents who answered “not sure” and whose organizations did not leverage their benefits program to retain highly skilled employees were excluded from this analysis. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

19 Leveraging Employee Benefits to Retain High- Performing Employees

20 For the purpose of this survey, a high-performing employee is defined as any employee ranked among the top 10% in the organization’s last performance review cycle. Definition 20 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

21 21 Over the past 12 months, has your organization had difficulty retaining high-performing employees? Note: n = 386. Respondents who answered “not sure” were excluded for this analysis. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

22 22 Over the past 12 months, has your organization leveraged your benefits program to retain high-performing employees? Note: n = 370. Respondents who answered “not sure” were excluded from this analysis. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

23 23 Which of the following benefits has your organization leveraged to retain high-performing employees? Note: n = 73. Respondents who answered “not sure” and whose organizations did not leverage their benefits program to retain high-performing employees were excluded from this analysis. Percentages do not equal 100% due to multiple response options. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

24 24 Within the next three to five years, what benefits offerings will increase or decrease in importance in your organization’s efforts to retain high performing employees? Note: n = 56-71. Respondents who answered “not sure” and whose organizations did not leverage their benefits program to retain high-performing employees were excluded from this analysis. Percentages may not total 100% due to rounding. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

25 25 Organization Demographics State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

26 26 Demographics: Organization Staff Size n = 447 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

27 27 Demographics: Organization Sector n = 440 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

28 Percentage Health care and social assistance19% Manufacturing19% Professional, scientific and technical services17% Finance and insurance11% Government agencies9% Educational services7% Retail trade5% Accommodation and food services4% Construction4% Information4% Religious, grantmaking, civic, professional and similar organizations4% Transportation and warehousing4% Whole trade4% Administrative and support and waste management and remediation services3% Arts, entertainment and recreation3% Repair and maintenance3% Agriculture, forestry, fishing and hunting2% Mining2% Real estate and rental and leasing2% Utilities2% Personal and laundry services1% Demographics: Organization Industry 28 Note: n = 447. Percentages do not equal 100% due to multiple response options. State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

29 29 Demographics: Other U.S.-based operations only77% Multinational operations23% Single-unit organization: An organization in which the location and the organization are one and the same. 39% Multi-unit organization: An organization that has more than one location. 61% Multi-unit headquarters determines HR policies and practices 62% Each work location determines HR policies and practices 5% A combination of both the work location and the multi-unit headquarters determines HR policies and practices 34% Is your organization a single-unit organization or a multi- unit organization? For multi-unit organizations, are HR policies and practices determined by the multi-unit headquarters, by each work location or by both? Does your organization have U.S.-based operations (business units) only, or does it operate multinationally? n = 447 Note: n = 286. Percentages do not equal 100% due to rounding. Corporate (company-wide)75% Business unit/division13% Facility/location12% n = 286 What is the HR department/function for which you responded throughout this survey? State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

30 SHRM Survey Findings: State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees Response rate = 12% 447 HR professional respondents from a randomly selected sample of SHRM’s membership participated in this survey Margin of error +/- 4% Survey fielded March 1-April 6, 2012 Survey Methodology 30 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012

31 About SHRM Research For more survey/poll findings, visit www.shrm.org/surveyswww.shrm.org/surveys For more information about SHRM’s Customized Research Services, visit www.shrm.org/customizedresearch www.shrm.org/customizedresearch Follow us on Twitter @SHRM_Research@SHRM_Research Project leaders: Shawn Fegley, SPHR, survey research analyst, SHRM Research Christina Lee, intern, SHRM Research Project contributors: Mark Schmit, Ph.D., SPHR, vice president, SHRM Research Evren Esen, manager, Survey Research Center, SHRM Research Copy editor: Katya Scanlan, SHRM Knowledge Center 31 State of Employee Benefits in the Workplace—Leveraging Benefits to Retain Employees ©SHRM 2012


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