Employers Boost Benefits to Land Talent
Companies aren't waiting for an official declaration of "Happy times are here again" to re-examine the way they reward workers. As the economy improves, they're anticipating a serious struggle to recruit and retain quality talent, and are taking measures to stay competitive with respect to compensation and benefits, according to a new survey, the "2012 Top Five Total Rewards Survey," from Deloitte Consulting LLP and the International Society of Certified Employee Benefit Specialists (ISCEBS). "The survey exposes a widening gap between the dwindling supply of skilled workers in America and the growing demands of the modern workplace," says David Lusk, principal at Deloitte and author of the report. "A key challenge ahead for employers will be working to help close this skills gap to maintain a competitive edge in the global marketplace." The report places great emphasis on health care programs and costs. But it also examines revisions in compensation practices and reductions in the mandatory furlough/salary freezes that were commonplace during the recent recession. Approximately 330 HR professionals took part in the research. For more about the survey, click here, or www.iscebs.org.