Employee Engagement and Benefit Costs

Hello SkedX'ers! I want to share with you all today some information about a new survey that was just released, commissioned by employee benefits provider Unum in cooperation with Harvard Business Review Analytic Services. Two of the top challenges many HR managers face currently is engaging there employees and how to offer benefits that cost less. With a current Gen-Y workforce this is a very difficult task for any manager. The survey conducted produced some interesting results that HR managers should be concerned with. Among the findings of the survey of nearly 400 human resources decision-makers: * Nearly 60 percent said managing benefit costs is a top challenge, and nearly 80 percent expect that challenge to intensify in the next three years. * 45 percent said improving employee engagement is a top challenge, and 70 percent expect that challenge to intensify. * More than 40 percent said recruiting quality employees is a top challenge, and nearly 60 percent expect that challenge to intensify. So what does an HR manager focus on using those statistics? Well the shift is away from money and to focus on the role of corporate culture to drive engagement, improving recruitment and increasing retention. From the survey results below we can also see other factors an HR manager should focus on. * A company’s values and focus on employee fulfillment are the most important factors in attracting and engaging quality employees. * Being a company that cares about the well-being of its staff was twice as likely to be viewed as very important in attracting and retaining staff as providing a high base salary. * An attractive benefits package and an ethical, transparent culture were also more likely to be viewed as very important in attracting and retaining staff than were a high starting salary and job security. Many HR managers should be considering non-financial rewards and how to increase engagement as it is considered the most important factor for an employee when choosing an employer. Happy Scheduling, Aman The published results of the survey can be found here: http://forms.unum.com/StreamPDF.aspx?strURL=/FMS_112705-1.pdf&strAudience=StreamByNumber
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