With virtually all businesses facing significant challenges, it is even more important for employers to keep employees engaged, focused and productive. A new book released by Towers Perrin, "Closing the Engagement Gap - How Great Companies Unlock Employee Potential for Superior Results," highlights the "Engaging Eight" -- eight companies whose leadership, management and culture drive high employee engagement.
The companies are: Campbell Soup Company, EMC Corporation, Honeywell International, McKesson Corporation, MGM Grand Hotel and Casino, North Shore-Long Island Jewish Health System, Novartis AG and Recreational Equipment Inc. Further, the book offers five keys to unlocking employees' engagement potential.
After reading up, check out the engagment gap blog TP has set up. But why take their word for it? How is your company keeping employees engaged during the recession? Share your own tips on engaging employees -- comment below.
Showing posts with label Towers Perrin. Show all posts
Showing posts with label Towers Perrin. Show all posts
Monday, January 26, 2009
News You Can Use: In recession, employees prioritize steady paycheck over advancement
As the economic distress lingers, Towers Perrin finds most employees are ready to sacrifice career advancement for the simple security of a regular paycheck.
Job security and long-term earning potential are the key concerns for respondents, Towers Perrin finds. Forty-five percent of those polled believe they face greater risk that their job will change or be eliminated. And 55% believe the risk that their future earnings will plateau or decline has increased as well.
"In an economic downturn, employees want to lock down the things they need to provide stability and security for themselves and their families. A steady paycheck and set of core benefits, including health care coverage, typically top that list," says Emmett Seaborn, a Towers Perrin principal and head of intellectual capital development.
Indeed, having adequate benefit protection for themselves and their families rose sharply in importance as well, moving into the No. 2 slot from No. 4 previously, with 56% putting this in the top five in December, compared with only 37% in August.
Job security and long-term earning potential are the key concerns for respondents, Towers Perrin finds. Forty-five percent of those polled believe they face greater risk that their job will change or be eliminated. And 55% believe the risk that their future earnings will plateau or decline has increased as well.
"In an economic downturn, employees want to lock down the things they need to provide stability and security for themselves and their families. A steady paycheck and set of core benefits, including health care coverage, typically top that list," says Emmett Seaborn, a Towers Perrin principal and head of intellectual capital development.
Indeed, having adequate benefit protection for themselves and their families rose sharply in importance as well, moving into the No. 2 slot from No. 4 previously, with 56% putting this in the top five in December, compared with only 37% in August.
Monday, December 29, 2008
News You Can Use: Employers make revamping reitree medical a resolution for 2009
A new survey from ISCEBS and Towers Perrin indicates that employers are considering bold changes in 2009 to rein in retiree medical costs.
With more than 70% of respondents still offering retiree medical benefits to current retirees and some active workers, cost increases -- compounded by the current recession -- are a significant force influencing change in their programs to offload trend risk and begin to distance themselves from plan sponsorship and administration.
For pre-65 retirees, employers continue to wrestle with difficult challenges given the lack of access to affordable individual insurance for this high-cost population. The absence of affordable company-sponsored pre-65 coverage means that many older employees will delay retirement, presenting another significant workforce issue for employers. Although about two-thirds of respondents subsidze between 40% and 80% of plan costs, employers increasing are capping their benefits, with 48% of employers reportung such a cost cap, up from 43% last year.
While only 7% of employers have ceased financial support for pre-65 coverage in the past two years, 42% have either changed or plan to change cost-sharing between company and retiree. As part of this shift, a 34% of employers have introduced, or plan to introduce, HSAs to retirees as a means to promote tax free retiree medical savings.
For post-65 retirees, financial pressures on employers and retirees are similar to those for pre-65 retirees. Many employers (60%) who have capped their subsidy report plan costs in excess of the cap. Almost 40% have or will recast cost-sharing terms with post-65 retirees, and almost 20% have ceased – or plan to cease – providing any post-65 financial support at all.
Click here for extended coverage in the Sept. 1 and November issues of EBN about employers' strategies for retiree medical benefits.
With more than 70% of respondents still offering retiree medical benefits to current retirees and some active workers, cost increases -- compounded by the current recession -- are a significant force influencing change in their programs to offload trend risk and begin to distance themselves from plan sponsorship and administration.
For pre-65 retirees, employers continue to wrestle with difficult challenges given the lack of access to affordable individual insurance for this high-cost population. The absence of affordable company-sponsored pre-65 coverage means that many older employees will delay retirement, presenting another significant workforce issue for employers. Although about two-thirds of respondents subsidze between 40% and 80% of plan costs, employers increasing are capping their benefits, with 48% of employers reportung such a cost cap, up from 43% last year.
While only 7% of employers have ceased financial support for pre-65 coverage in the past two years, 42% have either changed or plan to change cost-sharing between company and retiree. As part of this shift, a 34% of employers have introduced, or plan to introduce, HSAs to retirees as a means to promote tax free retiree medical savings.
For post-65 retirees, financial pressures on employers and retirees are similar to those for pre-65 retirees. Many employers (60%) who have capped their subsidy report plan costs in excess of the cap. Almost 40% have or will recast cost-sharing terms with post-65 retirees, and almost 20% have ceased – or plan to cease – providing any post-65 financial support at all.
Click here for extended coverage in the Sept. 1 and November issues of EBN about employers' strategies for retiree medical benefits.
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