Workforce Mindset TMStudy. Key Findings on What Differentiates, What Rewards, and What Communicates. Risk. Reinsurance. Human Resources.
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1 Aon Hewitt Communication Workforce Mindset TMStudy Key Findings on What Differentiates, What Rewards, and What Communicates Risk. Reinsurance. Human Resources.
2 Table of Contents What s Up?... 1 What Differentiates? What Rewards? What Communicates? What s Next? Who Responded?
3 What s Up? The employment landscape is shifting employee trust is at an all-time low, employee engagement remains flat, and generational differences prevail. In fact, more than one in three employees are looking to switch jobs in the next year, and nearly half of all Millennials expect to do so. And Boomers are among the least engaged. At a time when employers are looking to attract and retain talent, employees are looking for a better, unique, and more compelling work experience. What s really on the minds of your employees when it comes to the employment experience? When you understand what truly matters to employees, you can shape a total work experience (not just an environment) that drives higher levels of engagement and business performance. Aon Hewitt s Workforce Mindset TM Study comprehensively explores employees perspectives and attitudes about their employment experience including values and culture, work environment, engagement, total rewards, and communication across job categories, demographics, regions, industries, generations, and more. This report answers three critical questions that help define the overall employment experience from the employee perspective: n What makes an employer truly stand out from the rest? (What differentiates?) n What do employees really think of their rewards? (What rewards?) n How and from whom do employees want to receive communication and engage in conversation? (What communicates?) This report only scratches the surface of our exploration of this unique data, but it will help you begin to discover what truly matters to employees across the U.S. and what you can do to deliver a compelling employment experience. Icon Key Gender Hourly/Salaried Generation Traditionalists born prior to 1946 Boomers born Gen Xers born Millennials born Throughout this report, some numbers may not add up to 100% due to rounding or multiple options available to employees. Aon Hewitt 1
4 What Differentiates? Offer employees a fun, flexible workplace and clearly defined opportunities to develop their careers. Recognize my achievements and provide career development opportunities. Create an experience that s different from the rest. Communicate completely and honestly with me it shapes how I view my experience. 2 Workforce Inside The Mindset Employee TM Study Mindset
5 I m looking for a workplace that s fun, flexible, and innovative. Employees expect certain qualities from all employers even when they don t always experience them. But when asked about qualities that have the best opportunity to differentiate, most employees cite fun, flexibility, and innovation. Characteristics that differentiate Differentiators What Differentiates an Employer Fun place to work Flexible work environment Innovative Good fit with my values Provides stimulating work Financially successful/market leader Great employees Provides meaningful work Provides good pay and benefits Empowers employees Good corporate citizen (environmentally/socially responsible) Great internal and external reputation Provides good career and/or development opportunities Provides valuable work tools/resources, including technology Strong management and leadership team Collaborative and encourages teamwork Recognizes strong achievement or performance Communicates completely and honestly Boomers are more likely than other generations to view this quality as a workforce differentiator. Gen Xers and Boomers view this quality as a differentiator, whereas Millennials see it as an expectation. What I Expect From Any Employer Millennials are more likely than other generations to expect this quality from all employers. Women are more likely than men to expect this quality. Expectations Aon Hewitt 3
6 I was first attracted to good pay and benefits. When looking for a new job, employees are most influenced by good pay and benefits, the flexibility offered, and the leadership position of the employer. Characteristics that first attracted me to my employer (select up to five) Provides good pay and benefits Has a flexible work environment Is financially successful or a market leader in areas in which it competes Provides meaningful work Provides good career and/or development opportunities Has great employees Has a great reputation with customers/clients Is a fun place to work Is a good fit with my values Provides stimulating work 35% 31% 29% 29% 27% 26% 24% 23% 21% 52% Hourly employees are more likely than salaried employees to be attracted to an employer based on this characteristic. Boomers are more likely than younger generations to be attracted to an employer based on this characteristic, as are salaried employees compared to hourly employees. Salaried employees are more likely than hourly employees to be attracted to an employer based on this characteristic. Encourages collaboration and teamwork Recognizes strong achievement or performance Has a strong management and leadership team Is a good corporate citizen (environmentally and socially responsible) Provides valuable work tools and resources, including technology Is an innovative organization 17% 16% 15% 14% 14% 12% Is an organization that empowers employees 11% Communicates completely and honestly 10% 0% 20% 40% 60% 4 Workforce Mindset TM Study
7 I d like to see improvements in rewards, recognition, and communication. Good pay and benefits, recognition, and honest communication top employees lists of desired areas of improvement for employers. They re also looking for improved career/development opportunities, greater flexibility, and stronger leadership. Qualities I d most like to see improved to increase my overall engagement or satisfaction Ranked 1 Ranked 1, 2, 3 Provides good pay and benefits Recognizes strong achievement or performance Communicates openly and honestly 8% 10% 24% 27% 24% 42% Women are more likely than men to rank pay and benefits as a #1, #2, or #3 improvement area, as are Boomers. Provides good career and/or development opportunities 7% 23% Has a flexible work environment Has a strong management and leadership team Is an organization that empowers employees 7% 22% 7% 19% 4% 17% Women are more likely than men to view this as the #1 desired improvement area, as are Boomers. Is a fun place to work 4% 15% Provides valuable work tools and resources, including technology Is a good fit with my values 4% 15% 4% 13% Men are more likely than women to view this as a key improvement area. Encourages collaboration and teamwork 3% 13% Provides stimulating work 3% 12% Provides meaningful work 3% 11% Has a great reputation with customers/clients 4% 11% Is financially successful or a market leader in areas in which it competes 3% 11% Has great employees Is a good corporate citizen (environmentally and socially responsible) 2% 10% 3% 9% Men are more likely than women to view this as a key improvement area, as are Millennials. Is an innovative organization 2% 7% 0% 10% 20% 30% 40% 50% Aon Hewitt 5
8 My employer is mostly focused on the bottom line but I d like more focus on recognition, respect, and loyalty. While teamwork is the most often cited employment characteristic, employees feel their current workplace is devoted to business performance, systems and processes, financial matters, and organizational growth. When asked about characteristics they desire in their workplace, employee recognition is the most often mentioned. Words I currently use to describe my current employer Characteristic Rank* Teamwork 1 Customer satisfaction 2 Profit 3 Quality 4 Brand image 5 Productivity 6 Accountability 7 Cost reduction 8 Financial stability 9 Community involvement 10 Making a difference 11 Employee recognition 12 Bureaucracy 13 Diversity 14 Responsibility 15 Women are more likely than men to use these words to describe their current employer. Words I d like to use to describe my current employer Characteristic Rank* Employee recognition 1 Respect 2 Loyalty 3 Balance (home/work) 4 Teamwork 5 Open communication 6 Fairness 7 Honesty 8 Accountability 9 Trust 10 Positive attitude 11 Employee health 12 Employee engagement 13 Professional growth 14 Financial stability 15 Millennials are less likely than other generations to want recognition. Boomers are more likely than other generations to want respect. Women are more likely than men to want these characteristics. *Based on rank order of number of mentions most often mentioned is ranked 1 6 Workforce Mindset TM Study
9 The characteristics I d really like to see in my employer don t match my current experience. The data suggests that employees are feeling overworked and hindered by rigid systems and processes and limited resources. They want to feel appreciated for their efforts and successes, see opportunities to advance, and be more involved in the workplace, while having ample time for their personal lives in short, they want a more human workplace. Words that describe my current and desired experiences Current Desired Shaded areas show biggest gaps between current and desired Number of Respondents Teamwork Customer satisfaction Profit Quality Brand image Productivity Accountability Cost reduction Financial stability Making a difference Bureaucracy Diversity Responsibility Positive attitude Employee health Employee engagement Professional growth Ethics Professionalism Being the best Excellence Continuous improvement Organizational growth Long hours Achievement Goals orientation Personal growth Community involvement Efficiency Compassion Empowerment Integrity Equality Coaching/Mentoring Trust Honesty Fairness Open communication Balance (home/work) Loyalty Respect Employee recognition Current Characteristics and Values When asked about the characteristics of their current workplaces, employees focus primarily on characteristics such as teaming up to meet customer needs (teamwork and customer satisfaction are the top two characteristics), market presence (brand image and community involvement), company financial performance and bottom-line needs (profit, productivity, cost reduction, financial stability), as well as accountability and quality. Eight of the top 10 most often cited are more organizational-oriented characteristics, while two are more relationship-based (teamwork and accountability). Desired Characteristics and Values When asked about the characteristics they desire in their workplaces, employee recognition is the most often mentioned characteristic of the desired experience. The values most often cited as desirable are more relationship-oriented values, indicating that employees want to focus on the quality of interpersonal relationships internally, externally, or both. These values include employee recognition, respect, loyalty, teamwork, fairness, open communication, accountability, and trust. Moving From Current to Desired With only two characteristics (teamwork and accountability) crossing over between the top current and desired sets, there s a clear need for a shift in values to produce better outcomes. Employees are asking for more attention to their individual needs. Specifically, they want to feel appreciated for their efforts and successes. They would also like opportunities to advance and be more involved in the workplace, while having ample time for their personal lives. They seek just treatment, consideration, and comradery from their colleagues. They seek an environment where information flows freely and authentically and where people know they can count on one another. Aon Hewitt 7
10 Flexibility is important to me, and I may not be getting enough of it. Across the board, a flexible work environment shows up as a quality that differentiates employers. The data suggests that while women and men view flexibility as having similar importance, men have a more positive perception of their existing work/life programs and women are more likely to desire improvements in this area. Thirty-seven percent view a flexible work environment as a differentiator at their current employer. This is the second most often cited differentiator behind a fun work environment. #5 Flexibility ranked #5 on the list of desired improvement areas (behind pay, communication, recognition, and career development opportunities). Salaried employees are more likely than hourly employees to desire improvement in this area. Women are more likely than men to list has a flexible work environment as a top 3 improvement area. Men are more likely than women, and salaried employees are more likely than hourly employees, to believe their current employer s work/life balance programs are better than other employers programs. 8 Workforce Mindset TM Study
11 I want more career development opportunities. Career and/or development programs are among the areas employees view as important from all perspectives: influential in first attracting employees to employers, an expectation of all employees (though a potential differentiator in some cases), and an improvement area. n More than three-fifths expect career and/or development opportunities from all employers. n One-third of employees cite good career and/or development opportunities as a characteristic that first attracted them to their current employer. One-third also say it s what sets their current employer apart from most other organizations. n For some employees, there s room for improvement. If their employers provided better career and/or development programs, one-quarter say it would be impactful on engagement and employee satisfaction. Millennials are more likely to perceive the career and/or development opportunities at their employer as better than that of other employers. Millennials are also more likely to expect career and/or development opportunities from any employer. Boomers are more likely to see career and/or development opportunities as a differentiator. Boomers are also more likely to identify career and/or development opportunities as a desired improvement area. Aon Hewitt 9
12 I work to provide for my family but work means so much more to me than that. Work plays a number of roles in employees lives. Not surprisingly, employees work to afford a certain lifestyle. But there are so many other important aspects. This description best describes the role that work plays in my life, beyond providing desired lifestyle* Total Primary Secondary Build my skills/abilities to become better or more valuable Do what I do best and be recognized as an expert Contribute to society in a meaningful way/ provide service and support to others Be challenged and stimulated through a variety of experiences 39% 22% 17% 35% 20% 15% 30% 16% 14% 28% 13% 15% Building skills/abilities is more likely to play a significant role for men and Millennials than other groups. Men are more likely than women to view this as primary or secondary. Women are more likely than men to view this as primary or secondary. Be a valuable part of a winning team Collaborate and interact with people I enjoy and respect Help and guide others to be their best Express my creativity or entrepreneurial/ innovative spirit 21% 11% 10% 21% 9% 12% 14% 6% 8% 13% 6% 7% Being a valuable part of a winning team and collaborating with people are more important to Boomers than others. Women are more likely than men to view this as primary or secondary. 0% 10% 20% 30% 40% *Figures represent percentage citing each role work plays, not including afford lifestyle I and my family desire, which is citied by 62% as a primary or secondary role. 10 Workforce Mindset TM Study
13 Ask Yourself Sure, employees are looking for an employment experience that meets their basic needs, like good pay and benefits. But they also want a fun, flexible workplace that provides clearly defined opportunities for career growth. The advantage of a work experience that achieves both? Higher engagement and the ability to attract and retain the right talent to move your business forward. Here are a few questions to consider as you think about building a compelling work experience for employees: n Have you defined your employment value proposition what you expect from employees and what they can expect in return? n What differentiates your employment experience? Are you highlighting those differentiators that are most important to employees, like flexibility and opportunity? n How are you fully addressing the basic expectations of employees, like open communication and teamwork? n How much focus are you placing on providing opportunities to build skills and experience, especially if you re looking to attract Millennials? n How compelling is your employment story to your most critical talent? n How consistent and reflective of today s media is your employee communication are you using the most effective language, tone, and style to tell your employment story? Aon Hewitt 11
14 What Rewards? Consider what s most valuable and engaging to employees when marketing your total rewards. Make my total rewards package stand out from the rest and spell it out. Offer programs that are well-balanced: good pay, benefits, flexibility, and job training. Focus on me, as an employee. After all, my rewards are personal. 12 Workforce Mindset TM Study
15 Pay is important, but it s not the only thing that matters to me. When asked to allocate 100 points across each component of their total rewards, employees consistently allocate the most value to pay averaging an allocation of 38 points. Health and wellness benefits and retirement and financial wellness benefits have a similar average allocation, and together account for about one-quarter of average overall value. This data suggests that it remains important to help employees understand how pay and benefits add value, while focusing efforts on other important components like paid time off, work/life balance, and career development. The value of total rewards programs Millennials allocate more value to career development and learning than others. Salaried employees allocate more value to career development and learning than hourly employees. Women allocate more value to work/life balance than men. Work/life balance support 10% Life and disability insurance 6% Career development and learning 7% Pay 38% Men allocate more value to pay than women. Women allocate more value to paid time off than men. Paid time off 11% Retirement and financial wellness benefits 13% Health and wellness benefits 15% Salaried employees allocate more value to retirement and financial benefits than hourly employees. Millennials allocate less value to retirement and financial benefits than Boomers. Aon Hewitt 13
16 My total rewards may be sufficient, but they don t stand out. At 61%, the majority of employees feel their total rewards adequately meet their families needs, though more than one-third do not agree. With rising health benefit costs for employees and relatively flat wage increases, the frustration with rewards is beginning to show in employee attitudes. Employees are less likely to see total rewards supporting attraction and retention effectively. My total rewards overall... Strongly Agree/Agree Slightly Agree Slightly Disagree Disagree/Strongly Disagree Meet my/my family s needs Have a significant impact on the company s reputation Support our organization s ability to attract employees Support our organization s ability to retain employees At my place of employment, I have a good understanding of my total rewards overall 56% 52% 49% 61% 77% 25% 25% 23% 28% 11% 12% 11% 7% 9% 9% 7% 15% 14% 5% 4% 0% 20% 40% 60% 80% 100% Salaried employees are more likely than hourly employees to say their current total rewards meet their needs and help their employer attract and retain talent. Millennials and Gen Xers are more likely than others to say their total rewards help retain talent. 14 Workforce Mindset TM Study
17 I have a reasonably good understanding of my reward programs. Employees have a strong awareness and good perceived understanding of the vast majority of their rewards. Paid time off and base pay are most understood. Bonus, career development/training, and work/life balance programs are least understood. At my place of employment, I have a good understanding of... Strongly Agree/Agree Slightly Agree Slightly Disagree Disagree/Strongly Disagree Not Aware 4% 4% 1% Total rewards overall 77% 14% 2% 4% 2% Vacation and holidays 84% 8% 3% 4% 1% Base pay 83% 9% 3% 4% 2% Medical coverage/insurance 80% 11% Men are more likely to report Dental coverage/insurance 78% 4% 5% 2% 11% greater understanding of their total rewards than women. Company match and/or basic contributions to 401(k) type plans Life and disability insurance 77% 70% 4% 6% 2% 11% 5% 6% 2% 17% Rewards are less understood by Millennials and hourly employees. 6% 10% 3% Pension plan 67% 14% 7% 11% 3% Bonus (incentives and commissions) 64% 15% 8% 8% 3% Career development/training programs 61% 20% 7% 8% 6% Work/life balance programs 60% 19% 0% 20% 40% 60% 80% 100% Aon Hewitt 15
18 My rewards are pretty much the same as other companies rewards. When compared to perceptions of rewards at other companies, employees generally view their total rewards as being about the same as others. Among the total rewards employees feel fall short are bonus, base pay, work/life balance programs, and career development/training. This data shows a relationship between employee understanding and perceptions of competitiveness many of the least understood programs (career development/training, work/life balance, and bonus) are also viewed as the least competitive. Compared to what I think other employers are offering, this reward is Well Above/Above About the Same Below/Well Below Total rewards overall 40% 44% 16% Vacation and holidays 42% 44% 14% Pension plan 41% 41% 18% Across the rewards areas, men Medical coverage/insurance 38% 47% 15% are more likely to perceive their total rewards as more competitive than women. Base pay Company match and/or basic contributions to 401(k) type savings plans Bonus (incentives and commissions) 37% 37% 36% 36% 49% 34% 27% 14% 30% Perceived competitiveness is also higher among Millennials. Perceived competitiveness is lower among Boomers and Traditionalists. Work/life balance programs 36% 44% 20% Career development/training programs 34% 44% 22% Dental coverage/insurance 33% 53% 14% Life and disability insurance 30% 59% 11% 0% 20% 40% 60% 80% 100% 16 Workforce Mindset TM Study
19 Total rewards have an impact on my engagement. There s a strong relationship between employee perceptions of total rewards and employees overall engagement levels. Employees who rank their total rewards above others are also more engaged. Compared to what I think other employers are offering, this reward is well above or above other employers... Engaged Disengaged Total Population Total rewards overall 24% 24% 40% 60% Employees who view their total rewards as competitive are 2.5 times more engaged than other employees. Vacation and holidays 32% 42% 55% Pension plan Medical coverage/insurance 54% 29% 41% 50% 29% 38% Base pay 24% 37% 52% Men are more likely than women to view their pay programs as better than others. Company match and/or basic contributions to 401(k) type savings plans 24% 37% 52% Bonus (incentives and commissions) Work/life balance programs 22% 36% 20% 36% 52% 52% Men are more likely than women to view their bonus as better than what others provide. Career development/training programs Dental coverage/insurance Life and disability insurance 51% 19% 34% 44% 24% 33% 42% 19% 30% Employees who view these programs as better than those offered by others are nearly three times more likely to be engaged than other employees. Millennials are more likely than others to view these programs as better than those of other employers. 0% 10% 20% 30% 40% 50% 60% Aon Hewitt 17
20 When it comes to my employer s total rewards, nothing stands out. Many employees don t think their current rewards differ from what other companies offer. Others describe how specific reward programs stand out. Here are some total rewards that do stand out for employees: n Reasonably priced medical coverage n Time-off benefits, flexibility, and paid time off to help care for personal obligations n Efforts to be rewarded and recognized (both formally and informally) n An overall work experience that s fun, collaborative, stable, caring, fair, and family-oriented What stands out about my current employer s total rewards?* Everything is about average. Nothing stands out. (Boomer/ Traditionalist) Nothing stands out 351 Total compensation 253 Medical/prescription drug 240 Paid time off 239 Base pay 223 Employee experience/recognition 208 Our program is well-balanced. Good pay, benefits, and job training. (Boomer/Traditionalist) Honestly, there isn t much I know about it. (Gen Xer) The health care coverage is very good, and at this point I only have copays. No monthly fees come out of my paycheck to cover the premium. (Millennial) My company stands out because of the base pay offered. (Millennial) My pay is way too low in comparison to the contribution I make to the company s success. (Gen Xer) I get 4 weeks vacation each year plus a bonus. This is the best job I ve ever had regarding these perks. (Boomer/Traditionalist) I love the total rewards because I m given extra vacation time to spend with my parents. (Millennial) We have a chance to earn sick, vacation, and personal time. This allows us to be able to handle our family obligations with paid time off. (Gen Xer) Recognition for teamwork. (Gen Xer) Recognition is the biggest thing. Even if you only get honorable mention, it still means a lot. (Boomer/Traditionalist) You are a person, not a number. (Boomer/Traditionalist) *Figures represent the number of comments mentioned for each category. 18 Workforce Mindset TM Study
21 Ask Yourself Total rewards represent everything an employer provides to an employee they go beyond pay and benefits to include the work environment and many other elements. Survey results show that employees who understand and value their total rewards are more engaged overall. With the least understood rewards also being viewed as the least competitive, you have the opportunity to set your organization apart by improving the perceived value of your total rewards. Here are a few questions to consider as you think about designing, communicating, and delivering total rewards to your employees: n Have you clearly defined and articulated your total rewards strategy or guiding principles? n How do you show the value of all total rewards, including pay and benefits, as well as work/life balance programs, career development and learning, and recognition? n How well do your employees understand their rewards? What are their perceptions? Are you getting the optimum return from your overall investment in total rewards? n What are you doing to ensure that your total rewards are communicated and delivered effectively across the employment life cycle? n What role do you want managers to play in the communication and delivery of total rewards? What are you doing to prepare them? Aon Hewitt 19
22 What Communicates? Authentic and hyper-relevant communication delivered through a variety of channels best reaches employees. Honesty and transparency are key it s obvious when it s not. Help connect me to senior leaders. I want communication that s relevant to me, like my performance and career advancement. 20 Workforce Mindset TM Study
23 Open dialogue, especially with leaders, will boost my engagement. Employees who feel informed are also more engaged, most notably when it comes to feeling encouraged to share ideas and seeing open and honest senior leadership communication. For example, employees who view leadership as open and honest are nearly five times more engaged than those who don t. Our data shows a significant gap between the communication perceptions of employees who are engaged and those who are not. Communication perceptions by engagement (strongly agree/agree) Engaged Not Engaged Total Population Gap I feel encouraged to share my ideas and opinions with others Senior leadership is open and honest in communication Senior leadership in this organization provides clear direction for the future Senior leadership fills me with excitement for the future of this organization My manager shares relevant information about the business and work environment with me My manager provides relevant and valuable input to improve my performance and/or work experience I know what I need to do to get ahead at my company Senior leadership is appropriately visible and accessible to employees Communication from other employees is e ective My manager checks in with me regularly on progress or concerns I may have Communication from human resources is effective My manager discusses career and learning opportunities with me appropriately 22% 47% 14% 38% 15% 39% 10% 33% 24% 47% 23% 46% 23% 46% 18% 40% 24% 46% 24% 46% 18% 40% 16% 37% 77% 55% 67% 53% 67% 52% 61% 51% 75% 51% 74% 51% 73% 50% 66% 48% 72% 48% 72% 48% 65% 47% 63% 47% Across all segments, employees say that complete and honest communication could improve their engagement. In fact, Communicates completely and honestly was the #2 most often cited area for improvement behind Provides good pay and benefits. Millennials are less likely than other generations to feel informed about HR and business issues. However, they have better relationships with their managers compared to other generations. 0% 20% 40% 60% 80% 100% Aon Hewitt 21
24 For most things, I get the right amount of information but there s room for improvement. Most employees feel they re getting the right amount of communication on most topics. The biggest opportunities for improvement are in the areas that also are most important to engagement (i.e., career and/or development opportunities, work/life programs, and incentive/bonus pay). Amount of communication received on the following topics Too Little Just Right Too Much Company-provided benefits (medical, retirement, etc.) 23% 73% 3% Your job (role and responsibilities) 22% 71% 7% Gen Xers are more likely to value the Personal health and wellness 26% 67% 7% personal health/wellness communication they The organization s goals and priorities 25% 65% 10% receive. Financial performance of the organization 30% 64% 7% Feedback on your job performance 30% 62% 8% What s happening in your organization (employee news, concerns, accomplishments) 33% 62% 5% Millennials and Gen Xers are more likely than other generations Changes in the organization 35% 55% 11% to think communication about their pay (base Base pay 38% 60% 2% pay, incentive/bonus pay, personal finance Personal finances/financial planning 38% 58% 4% and planning) and their jobs (performance Incentive/bonus pay (including commissions) 40% 57% 3% feedback and career and/or development opportunities) is valuable. Work/life balance and/or stress management 40% 56% 4% Career and/or development opportunities 42% 55% 3% Recognition of your efforts and accomplishments 46% 52% 3% 0% 20% 40% 60% 80% 100% Millennials are more likely to say the communication they receive about recognition is valuable. 22 Workforce Mindset TM Study
25 On benefits and wellness, you ve got it covered. Employers typically make significant time and financial investments in communicating about benefits, and increasingly, about wellness. The investments appear to be paying off. Employees feel that communication about company-provided benefits is very valuable and they re receiving just the right amount. Don t let up! The value and amount of communication received about... Valuable Just Right Company-provided benefits Your job Feedback on your job performance Base pay The organization s goals and priorities Personal health and wellness Recognition of your e orts and achievements Changes in the organization What s happening in your organization Career and/or development opportunities Financial performance of the organization Work/life balance and/or stress management Personal finances/financial planning Incentive/bonus pay 82% 73% 79% 71% 76% 62% 75% 62% 73% 65% 73% 67% 72% 52% 71% 56% 71% 62% 70% 55% 70% 64% 67% 58% 66% 60% 61% 57% 0% 20% 40% 60% 80% 100% Millennials are more likely to feel they receive the right amount of communication related to recognition of their efforts and achievements compared to Boomers, who tend to say they receive too little recognition. Salaried employees are more likely than hourly employees to say the amount of communication they receive is just right. Women are less likely than men to share this viewpoint. Aon Hewitt 23
26 I want to be recognized and know how to move ahead and I m not hearing enough about that. Personal recognition, opportunities to move ahead, incentive/bonus pay, and work/life balance and/or stress management are all important. Many employees feel they don t get enough communication about those things. The value and amount of communication received about... Too Little Valuable Recognition of your efforts and achievements Career and/or development opportunities Work/life balance and/or stress management Incentive/bonus pay Base pay Personal finances/financial planning Changes in the organization Feedback on your job performance 46% 72% 42% 70% 40% 67% 40% 61% 38% 75% 38% 66% 35% 71% 33% 76% One-third of Millennials say they don t receive enough communication about recognition or career and/or development opportunities. Gen Xers and Boomers, many of whom are the Millennials managers, are more likely to be dissatisfied with the amount of communication they receive about development opportunities. They re also more likely to want more personal recognition. What's happening in your organization Financial performance of the organization Personal health and wellness The organization's goals and priorities Company-provided benefits Your job 30% 30% 26% 25% 23% 22% 71% 70% 73% 73% 82% 79% 0% 20% 40% 60% 80% 100% 24 Workforce Mindset TM Study
27 is still the killer app, but managers and leaders matter. Employees expect an array of media, including s, online information, one-on-one time with managers, and messages from senior leaders. How to reach employees most effectively depends on the topic. Channels and sources from which I prefer to receive this communication topic (#1 and #2 preferences) How From Whom Topic #1 Channel #2 Channel #1 Source #2 Source Job roles and responsibilities Manager Leader Feedback on job performance Manager Leader Recognition of employees efforts and achievements Manager Pay Manager HR Career and/or development opportunities Manager Leader HR Salaried employees have a significantly stronger preference for ; hourly employees prefer more variety (such as meetings or print channels). Salaried employees are also more likely to prefer communication about the organization from senior leaders, while hourly employees prefer to get the information from corporate communications. Work/life balance HR Manager For benefits communication, Company-provided benefits HR Corporate communication Gen Xers and Boomers have a slightly stronger preference for print than Millennials. Personal health and wellness HR Corporate communication Personal finances/financial planning HR Corporate communication The organization s goals and priorities Leader Corporate communication Mobile and social media channels such as text messages and Twitter Changes in the organization Leader Corporate communication feeds don t make the top 3 preferred channels for any topic, though Millennials What s happening in the organization Corporate communication Leader show a significantly higher preference for mobile and social media channels. Financial performance of the organization Corporate communication Leader 1-on-1 meeting Internal company website In-person group meeting Aon Hewitt 25
28 I want to hear from my manager about my pay, my performance, and my opportunities. When it comes to pay, individual performance, and job-related information, a large majority of employees prefer to hear from their managers through one-on-one conversations. Communication channel preference (#1 channel choice/#2 channel choice) How From Whom Topic #1 Channel #2 Channel #1 Source #2 Source Pay Manager HR Job roles and responsibilities Manager Leader Feedback on job performance Manager Leader Career and/or development opportunities Manager HR Fifty-one percent prefer to receive information on pay one-on-one. Gen Xers and Boomers are more likely than Millennials to prefer one-on-one interaction. When it comes to performance and job-related information, more than 70% of employees say they want to hear it from their managers. Recognition of employees efforts and achievements Manager Leader Icon Key 1-on-1 meeting Internal company website In-person group meeting 26 Workforce Mindset TM Study
29 Communication is generally helpful and clear, yet could be more proactive, innovative, and inspiring. When asked to describe their current communication on a spectrum, here s how employees view the experience. Exploring principles of content marketing and adding elements of social media and/or user-generated content are beginning to take root in creating greater innovation, inspiration, and authenticity for employees. Characteristics of communication at current employer Less Effective More Effective Irrelevant/untimely 14% 20% 29% 37% Relevant/timely Not helpful 15% 20% 27% 38% Helpful Unclear 16% 21% 26% 37% Clear Dated 16% 22% 30% 32% Contemporary Full of spin/concealing something 20% 20% 24% 36% Authentic/straightforward Discourages participation and dialogue 19% 23% 25% 33% Invites participation and dialogue Fragmented 21% 22% 24% 33% Complete Uninspiring 21% 23% 26% 30% Inspiring Traditional 22% 24% 24% 30% Innovative Reactive 25% 21% 23% 31% Proactive 0% 20% 40% 60% 80% 100% Boomers are more likely than others to describe communication at their employer as reactive, dated, and traditional. Millennials are more likely to describe the communication as inviting participation and dialogue as well as relevant/timely. Aon Hewitt 27
30 I want open and honest communication from HR, corporate communication, and leaders. Nearly eight out of 10 employees surveyed took the time to respond to this open-ended question: What would improve my organization s communication? Their #1 suggestion? More honesty and transparency. Many comments also point to the need for a stronger connection between management and employees. What would improve my organization s communication?* If higher-level employees would explain more to the lower-level employees. More face-to-face contact. (Millennial) Leadership should just be straightforward with employees. They seem to play hide the ball with information. (Boomer/Traditionalist) Honesty/openness 263 There seems to be a lot that happens above my position that affects us, but we re not told. (Millennial) Relevance 161 Employee experience/respect 118 Corporate communication 111 Meetings 102 Getting rid of all the corporate lingo and having a more authentic work environment. (Millennial) Being interested in the betterment of employees lives. (Gen Xer) Cut down on mass, verbose communications or at least have line managers boil down each team s takeaway/action items from a mass communication. (Gen Xer) Inform associates of things that impact their job and employment. (Boomer/Traditionalist) Have more meetings to keep employees informed on upcoming changes. (Gen Xer) Members of upper management actively engaging with employees to find out what processes we go through to get a job done, encouraging employees to voice opinions, concerns, and ideas. (Gen Xer) If the top of the management chain would remember that those in direct contact with the public are actual people and not machines, that would be great. (Millennial) *Figures represent the number of comments mentioned for each category. 28 Workforce Mindset TM Study
31 Ask Yourself You spend considerable time and resources delivering communication. And you hear, Our employees don t read. It s time to deliver relevant messages and invite dialogue. Employees have diverse needs and preferences when it comes to communication. Take the time to find out what would lead them to pay attention. Then consider how to use the resources you have to meet them where they are. Here are a few questions to consider as you think about delivering more effective, interactive communication between your company and employees: n Where are your communication efforts and investments focused? Are you providing employees with enough information on relevant topics? n How are you addressing the needs of difficult-to-reach segments such as production, remote/virtual, or mobile employees? n Are you leveraging multimedia communication methods and contemporary marketing techniques (e.g., content marketing, social media, user-generated content), including those that employees use and expect outside the workplace? Are you balancing electronic with face-to-face communication effectively? n How are you focusing your communication on important topics like recognition and opportunities? n How often do you expect managers to connect with employees individually to discuss performance and job-related topics, including development? n What are you doing to support managers in communicating about topics that are important to employees like pay, performance, and career? Are managers recognized appropriately for doing so? Aon Hewitt 29
32 What s Next? Ready to take action? Here are a few recommendations for making sure your employment experience truly stands out from the rest in areas that matter to employees the work environment, total rewards, and communication. Define Your Unique Employment Value Proposition Your employment value proposition should clearly articulate the particular features of your work experience that are most compelling and differentiating. It should support your business as well as your ability to attract and retain employees. When developing your employment value proposition, be sure to address what employees expect as well as what they desire and consider how total rewards fit in. Focus on the Things That Matter to Employees You can t forget about pay and benefits. But employees are clearly saying they want greater focus on recognition and career opportunities. And it s important to think about how total rewards programs are delivered across the employment life cycle from the time an employee is hired through retirement. Tell Your Compelling Story When it comes to the employment experience and the total rewards you offer employees, be clear about your story what s expected of employees and what they can expect in return. Tell that story in a compelling way. Inspire action by making it clear to employees what it takes to meet both business and personal needs. And communicate consistently using effective language, tone, and style each time you reach out to employees. Leader and Manager Communication Skills Matter Employees want to hear from their managers about some things like pay, performance, and career. Managers need to connect more frequently with employees individually to discuss performance and job-related topics, including development. Committing resources to help managers have meaningful conversations with employees, in particular about pay, is worth the effort. When managers communicate well, it makes a difference in employees engagement. 30 Workforce Mindset TM Study
33 Who Responded? This inaugural effort of Aon Hewitt s Workforce Mindset Study comes from a survey administered by The Futures Company online within the U.S. in August A diverse group of 2,539 employees working in companies with at least 1,000 people completed the comprehensive survey. Results reflect the U.S. employed population across many categories, as shown below: Gender Age % % Female 49% Male 51% % % % Employment Company Size (Number of U.S.-Based Employees) Employed part-time (less than 30 hours per week) 11% 1,000 1,999 10% 25,000 or more 36% 2,000 4,999 20% Employed full-time (30 hours or more per week) 89% 10,000 24,999 16% 5,000 9,999 19% Aon Hewitt 31
34 Industry Media, entertainment, and leisure Utilities and 5% telecommunications 6% Business services and construction 12% Public sector and health care 26% Financial services and insurance 13% Manufacturing and energy 20% Retail and wholesale trade 19% Region West 20% Northeast 20% Midwest 25% South 36% 32 Workforce Mindset TM Study
35 Household Income $150,000 or more 11% < $25,000 4% $100,000 $149,999 23% $25,000 $74,999 41% $75,000 $99,999 21% Personal Income $100,000 $149,999 13% $150,000 or more 4% < $25,000 13% $75,000 $99,999 15% $25,000 $74,999 56% Aon Hewitt 33
36 Race Asian 6% American Indian or Alaska native 1% Multiracial 1% Prefer not to say 1% Hispanic/Latino(a) 12% African-American 9% White 71% Household Status Single, with dependents 9% Single, no dependents 28% Married/domestic partner, with dependents 33% Married/domestic partner, no dependents 30% Union Status Union 21% Nonunion 79% 34 Workforce Mindset TM Study
37 Hourly vs. Salaried Salaried 49% Hourly 51% Job Description Senior management 7% Middle management 16% Supervisory 19% Individual contributor 58% Aon Hewitt 35
38 Education Advanced/postgraduate degree 18% Some or no high school 1% High school graduate 11% Some advanced/postgraduate education 6% Some college 23% College graduate/undergraduate degree 41% Primary Work Location Other 9% Client or customer location 6% Your home/home office 5% Field office/satellite or smaller regional office 19% Main office/large office location 49% Factory, production facility, or distribution center 12% 36 Workforce Mindset TM Study
39 Contacts Pam Hein Ray Baumruk Anne Lloyd Christin Devcich About Aon Hewitt Aon Hewitt empowers organizations and individuals to secure a better future through innovative talent, retirement and health solutions. We advise, design and execute a wide range of solutions that enable clients to cultivate talent to drive organizational and personal performance and growth, navigate retirement risk while providing new levels of financial security, and redefine health solutions for greater choice, affordability and wellness. Aon Hewitt is the global leader in human resource solutions, with over 30,000 professionals in 90 countries serving more than 20,000 clients worldwide. For more information, please visit aonhewitt.com.
40 About Aon Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 66,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world s best broker, best insurance intermediary, best reinsurance intermediary, best captives manager, and best employee benefits consulting firm by multiple industry sources. Visit aon.com for more information on Aon and aon.com/ manchesterunited to learn about Aon s global partnership with Manchester United. Aon plc All rights reserved. The information contained herein and the statements expressed are of a general nature and are not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information and use sources we consider reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Risk. Reinsurance. Human Resources.
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