Companies need to seriously rethink their approach to workplace stress
Scottsdale, AZ (PRWEB) October 30, 2007
Workers rank stress as a top reason they would leave their company1, yet only 50% of employers offer stress management programs to employees primarily because they are perceived to have low impact on employee attraction and retention, according to a new research report, Attraction and Retention: The Impact and Prevalence of Work-Life and Benefit Programs by WorldatWork.
"Companies need to seriously rethink their approach to workplace stress," said Kathie Lingle, director of Alliance for Work-Life Progress, an affiliate of WorldatWork. "It's not just about treating the symptoms of stress with massages and yoga classes, but actually delving into the company's work processes and culture to figure out potential causes of pressure such as lack of supervisor and co-worker support, inadequate feedback, workload or scheduling issues."
While not surprising, paid vacation and medical plans topped the list of programs rated as having a high impact on attraction and retention. More than 90 percent of participants said that paid vacation has a moderate to high impact on attraction and retention. A full 100 percent of participating organizations have a paid vacation program in place. Defined benefit plans, flex-time and telecommuting also were rated as high-impact programs.
- While stress is a top reason employees leave an organization, only 30 percent of employers offer emergency back-up dependent care services, on-site childcare and sabbaticals.
- Phased retirement is offered by only 32 percent of employers, even though it has moderate to high impact on retention (73 percent).
- While on-site childcare has a moderate to high impact on attraction (78 percent) and retention (76 percent), only 25 percent of organizations offer it.
- Four out of 10 organizations do not offer telecommuting; of those that do, 85 percent said telecommuting has a moderate to high impact on employee retention.
- Only 44 percent of companies offer profit sharing though it has a moderate to high impact for attraction (82 percent) and retention (80 percent).
The WorldatWork survey identifies 41 separate total rewards programs and reports the perceived impact on attraction and retention in the participating organization’s talent pool. The survey was sent electronically to 4,625 WorldatWork members in the United States. There were 649 responses received for a 14-percent response rate. Respondents represent private companies (28.3%), public companies (51.6%) and not-for-profit (20.1%). A typical member of WorldatWork is employed at the manager/assistant director level and above and has at least five years of experience in HR or compensation. In addition, he or she is most frequently employed at the headquarters of a large company; 95% of the FORTUNE 500 companies employ a member of WorldatWork.
For a complimentary copy of the survey report, media may contact firstname.lastname@example.org.
1. Source: WorldatWork and Watson Wyatt 2007/2008 Global Strategic Rewards® study
The Total Rewards Association
WorldatWork (worldatwork.org) is an association of human resource professionals from FORTUNE 500 and other leading organizations worldwide focused on attracting, motivating and retaining employees.
Founded in 1955, WorldatWork provides practitioners with training and education to effectively design and implement strategies and practices in total rewards, including compensation, benefits, work-life, recognition, and career development. With offices in Scottsdale, Arizona and Washington, D.C., WorldatWork supports its 30,000 members and professionals in 75 countries with thought leadership, publications, research and community. WorldatWork administers certification through the WorldatWork Society of Certified Professionals.
The WorldatWork group of registered marks includes: WorldatWork®, workspan®, Certified Compensation Professional or CCP®, Certified Benefits Professional® or CBP, Global Remuneration Professional or GRP®, Work-Life Certified Professional or WLCP®, WorldatWork Society of Certified Professionals®, and Alliance for Work-Life Progress® or AWLP®.
WorldatWork Journal, WorldatWork Press and Telework Advisory Group are part of the WorldatWork family.
Marcia Rhodes, APR
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.