U.S. Strategic Rewards Report

Originally published by Watson Wyatt Worldwide

Survey

This report includes research findings from two surveys completed by Watson Wyatt before its merger with Towers Perrin. The 2009/2010 U.S. Strategic Rewards Survey, conducted by Watson Wyatt Worldwide and WorldatWork and representing 235 organizations, is the primary source for the employer data in this report. These organizations span all industries and have a minimum of 1,000 employees each.

The survey was fielded in May 2009.Selected data featured in this report are drawn from the August issue of Watson Wyatt’s Effect of the Economic Crisis on HR Programs, our bimonthly survey series. The August survey included responses from 175 companies.

Survey Results

Executive Summary

The recession has had widespread and unprecedented impact on U.S. employers and their employees. While the worst might be over, companies need to be prepared for the effects to linger even after the economy recovers. The scope and number of actions employers have taken in response to the economic crisis could have a long-lasting and detrimental impact on productivity, quality and customer service.

A critical first step for employers as conditions improve is to understand how their actions have affected their Employee Value Proposition (EVP), especially in terms of creating significant attrition risk among top-performing employees. As companies emerge from the recession, they need to ensure their EVP aligns with changes in the business environment and their own strategy and goals. Reviewing and rebuilding their EVP will enable these employers to engage and retain the current workforce and to provide a compelling employment deal to critical-skill and top-performing employees.

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