us-human-capital-bersin-lt-rewards-infographic-life-stressors-07 … · 2020-05-22 · between...

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1. Seven Top Findings for Redefining Total Rewards, Bersin, Deloitte Consulting LLP / Pete DeBellis and Anna Steinhage, PhD, 2018. 2. Between October 2016 and July 2018, Deloitte administered a survey to more than 18,000 U.S. employees through their companies. We identified a panel of 19 employee stressors—from inside and outside the workplace, and sometimes, from both sources at the same time. For instance, stress regarding childcare can stem from job demands as well as the inability to hire qualified care providers. Source: Surveying Employee Preferences for Rewards: Findings on Life Stressors, Bersin, Deloitte Consulting LLP / Pete DeBellis and JoiAnda Bruce, 2019. Understanding the stressors that impact employees both inside and outside of work can help organizations design rewards programs that can optimize the return on their talent investments by better aligning offerings with employee needs and preferences. As used in this document, “Deloitte” means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright © 2019 Deloitte Development LLC. All rights reserved. To learn more, read Surveying Employee Preferences for Rewards: A Primer and Surveying Employee Preferences for Rewards: Findings on Life Stressors, Bersin, Deloitte Consulting LLP, 2018–19. SURVEYING EMPLOYEE PREFERENCES FOR REWARDS Life Stressors High-performing organizations design rewards strategies that treat employees as customers. 1 To effectively design rewards offerings for these internal customers, employers require a granular understanding of what keeps employees awake at night. These could be rooted in conditions inside and outside of work—their stressors. Deloitte identified a list of 19 potential stressors that can be investigated by employers seeking to develop a solid data foundation from which to optimize their rewards programs. 2 Further, the top five stressors and their relative priority can vary as employees age . . . When viewed by gender groups, the top stressors are aligned, with minimal differences. When viewed by employee salary level . . . . . . work-related concerns increase as salaries grow, while debt-related worries decrease. . . .concerns around debt and career advancement decrease over time, while worries about medical illness and the ability to retire move into the list of top five stressors. TOP STRESSORS BY AGE TOP STRESSORS BY GENDER Women identify . . . . . . as their top stressors. Men identify . . . . . . as their top stressors. Work Ability to Retire Job Security Debt Fitness & Healthy Living Work Ability to Retire Job Security Medical Illness / Disease Fitness & Healthy Living Out of these 19 predetermined stressors, employees ranked . . . Work Ability to Retire Job Security Fitness & Healthy Living Debt . . . as the top five stressors by relative importance. However, at the individual level . . . 5 Top . . . were most frequently identified as the top stressors. Debt Ability to Retire Job Security Work Lack of Time in a Day 18% 15% 13% 12% 8% Career Advancement Childcare Chronic Pain Debt Elder / Dependent Care Fitness & Healthy Living Home Improvements / Maintenance Job Security Lack of Time in a Day Medical Illness / Disease Mental Health / Addiction Ability to Retire Personal Safety Pets Relationship Problems Social Good The Environment Tuition / Education Work 19 P o t e n t i a l S t r e s s o r s TOP STRESSORS BY SALARY LEVEL Relative Priority Under 35 Years Old 55 Years and Older Work Ability to Retire Debt Work Career Advancement Medical Illness / Disease Fitness & Healthy Living Fitness & Healthy Living Job Security Job Security 1 2 3 4 5 Relative Priority Less Than $50K Annually $75K to Less Than $100K Annually $150K or More Annually Job Security Work Work Work Job Security Ability to Retire Ability to Retire Ability to Retire Job Security Debt Fitness & Healthy Living Fitness & Healthy Living Career Advancement Medical Illness / Disease Lack of Time in a Day 1 2 3 4 5

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Page 1: us-human-capital-bersin-lt-rewards-infographic-life-stressors-07 … · 2020-05-22 · Between October 2016 and July 2018, Deloitte administered a survey to more than 18,000 U.S

1. Seven Top Findings for Redefining Total Rewards, Bersin, Deloitte Consulting LLP / Pete DeBellis and Anna Steinhage, PhD, 2018.2. Between October 2016 and July 2018, Deloitte administered a survey to more than 18,000 U.S. employees through their companies. We identified a panel of 19 employee stressors—from inside and outside the workplace, and sometimes, from both sources at the same time. For instance, stress regarding childcare can stem from job demands as well as the inability to hire qualified care providers.

Source: Surveying Employee Preferences for Rewards: Findings on Life Stressors, Bersin, Deloitte Consulting LLP / Pete DeBellis and JoiAnda Bruce, 2019.

Understanding the stressors that impact employees both inside and outside of work can help organizations design rewards programs that can optimize the return on their talent investments by better aligning offerings with employee needs and preferences.

As used in this document, “Deloitte” means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.

Copyright © 2019 Deloitte Development LLC. All rights reserved.

To learn more, read Surveying Employee Preferences for Rewards: A Primer and Surveying Employee Preferences for Rewards: Findings on Life Stressors,Bersin, Deloitte Consulting LLP, 2018–19.

SURVEYING EMPLOYEE PREFERENCES FOR REWARDS

Life Stressors

High-performing organizations design rewards strategies that treat employees as customers.1 To effectively design rewards offerings for these internal customers, employers require a granular understanding of what keeps employees awake at night. These could be rooted in conditions inside and outside of work—their stressors.

Deloitte identified a list of 19 potential stressors that can be investigated by employers seeking to develop a solid data foundation from which to optimize their rewards programs.2

Further, the top five stressors and their relative priority can vary as employees age . . .

When viewed by gender groups, the top stressors are aligned, with minimal differences.

When viewed by employee salary level . . .

. . . work-related concerns increase as salaries grow, while debt-related worries decrease.

. . .concerns around debt and career advancement decrease over time, while worries about medical illness and the ability to retire move into the list of top five stressors.

TOP STRESSORS BY AGE

TOP STRESSORS BY GENDER

Women identify . . .

. . . as their top stressors.

Men identify . . .

. . . as their top stressors.

Work

Ability to Retire

Job Security

Debt

Fitness & Healthy Living

Work

Ability to Retire

Job Security

Medical Illness / Disease

Fitness & Healthy Living

Out of these 19 predetermined stressors,employees ranked . . .• Work• Ability to Retire• Job Security• Fitness & Healthy Living• Debt. . . as the top five stressors by relative importance.

However, at the individual level . . .

5Top. . . were most frequently identified as the top stressors.

Debt Ability toRetire

JobSecurity

Work Lack of Timein a Day

18% 15% 13% 12% 8%

Career Advancement

Childcare

ChronicPain

Debt

Elder / Dependent Care

Fitness &Healthy Living

Home Improvements / Maintenance

Job Security

Lack of Time in a Day

Medical Illness /Disease

Mental Health /Addiction

Abilityto Retire

PersonalSafety

Pets

Relationship Problems

SocialGood

TheEnvironment

Tuition / Education

Work

19P

ot e n t i a l S t r e s s o r s

TOP STRESSORS BY SALARY LEVEL

Relative Priority Under 35 Years Old 55 Years and Older

Work Ability to Retire

Debt Work

Career Advancement Medical Illness / Disease

Fitness & Healthy Living Fitness & Healthy Living

Job Security Job Security

1

2

3

4

5

Relative Priority Less Than $50K Annually $75K to Less Than $100K Annually $150K or More Annually

Job Security Work Work

Work Job Security Ability to Retire

Ability to Retire Ability to Retire Job Security

Debt Fitness & Healthy Living Fitness & Healthy Living

Career Advancement Medical Illness / Disease Lack of Time in a Day

1

2

3

4

5