The Herman Trend Alert|
September 6, 2006
Benefits Race is On Again
As the labor market continues to tighten, employers are becoming more competitive in their drive to attract qualified workers. They are equipping their recruiters with many of the weapons that were used to lure top talent in the late 1990s. One class of those weapons is employee benefits.
While some employers were dramatically reducing their benefits offerings to control costs, more strategic firms were redefining their packages and seeking ways to respond to emerging marketplace indicators. The emphasis, given the shift to new lifestyle management, is in the area of life-work balance.
A recent survey of 263 employers by JobKite reports that 147 of them have significantly increased benefits packages over the past six months. As reported in “Inside Recruiting,” published by Electronic Recruiting Exchange, the companies that increased benefits did so with the following tactics:
- Medical: 88 percent added health-related benefits, including life, vision, and better or increased health plans.
- Money: 69 percent have increased stock vesting, 401(k) funds, salary relative to market averages, sign-on bonuses, quarterly bonus plans, and/or relocation packages.
- Vacation: 41 percent are increasing the number of paid days off per year.
- Alternative working arrangements. Thirty-six percent are adding or enhancing flextime and/or telecommuting. One Fortune 1000 company says it launched a new telecommuting program on August 16, for example. Another has an informal telecommuting option to be used for unexpected events, and a formal program for modified or reduced work schedules. Only one-third of the employees using that program are men.
- Other: 8 percent plan to offer other miscellaneous benefits, including massages, monthly cookouts and gym memberships.”
These results are consistent with our ongoing research into recruitment and retention strategies. Many of the companies talking with us describe efforts to customize benefits, like those described above, in ways that address the needs and interests of individual applicants.
Some of the interest is also focused on portable benefits that the employee can take along to a new employer when making a job change. This capacity may seem counterproductive to retention, but actually helps build longer-term relationships with its move away from control and limitation.
© Copyright 1998-
by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Joyce Gioia, Strategic Business Futurist. 336-210-3547 or http://www.hermangroup.com. To sign up, visit http://www.HermanTrendAlert.com. The Herman Trend Alert is a trademark of The Herman Group, Inc."
LOOKING FOR LOW-COST HOSTING?
Look no further than HostinGini.com. A fraction of the cost you will pay for domestic hosting. For more information, email contact@HostinGini.com. Expect to be surprised and pleased.
REMARKABLE FOOD SUPPLEMENT AVAILABLE
Both Joyce Gioia (our author) and her husband have benefited from taking micronized purple rice. Joyce's husband, a cancer survivor, is in better health today than before he was diagnosed. He has seen his Stage 2 KIdney Disease improve significantly---his doctor just dismissed him for six months and his cancer marker (CEA) lab tests show the lowest in his life at 3.8 (5.0 and under is considered normal; labs available upon request). Joyce has personally experienced hair regrowth and the fading of spider veins, along with imporved energy and other health improvements, along with the fact that her body has begun producing hormones again after years. To learn more about this remarkable supplement, call Joyce at 336.210.3548 or email her at email@example.com.
EMPLOYERS: FIND GREAT EXPERIENCED EMPLOYEES ON VETJOBS
VetJobs.com, the largest military job board, can be your competitive advantage. Veterans make great employees. They are dedicated and hard-working and many have advanced skills. Call 877-838-5627 or email firstname.lastname@example.org. Mention Trend Alert and receive a 10% discount on your first listing.
FOLLOW IN JOYCE'S FOOTSTEPS: GET BOOKED ON TV RIGHT AWAY
On March 1st, Joyce graduated from Clint Arthur's Celebrity Launchpad. Since then, she has made twenty appearances on local television stations, including Fox San Diego and CBS Las Vegas. In a couple of weeks, Joyce will start a new TV Media Tour with her new segment: How Soon Will You Be Replaced By a Robot? (coming soon to a television station near you) You can see most Joyce's appearances on her travel website at http://www.RoadWarriorInsights.com/news-and-media. You can do it, too! If you sign up for Celebrity Launchpad, you will qualify for a free coaching session from Joyce in your chosen area. Launchpad's are held monthly, but space is limited. For more information, call Joyce at 336.210.3548.
To read this Herman Trend Alert on the web: http:// www.hermangroup.com/alert/archive_8-26-2015.html.
Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers.
New subscribers are welcome. There is no charge for this public service. The Herman Trend Alert is read by over 30,000 people in 87 countries, including other websites and printed periodicals. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Herman Trend Alert service. Click here to sign up for the Herman Trend Alert.
Subscribe or Unsubscribe to weekly Herman Trend Alert
View this week's Herman Trend Alert
Archived Weekly Herman Trend Alerts