Your SlideShare is downloading. ×
0
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Shrm poll economy_fall10_final
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Shrm poll economy_fall10_final

813

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
813
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
22
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. March 11, 2011<br />SHRM Poll: Financial Challenges to the U.S. and Global Economy and Their Impact on Organizations—Fall 2010 Update<br />
  • 2. Introduction<br />A Comparison of the Financial Challenges to the U.S. and Global Economy Poll Data from Fall 2008 to Fall 2010.<br />In October 2008 (Fall 2008), SHRM began conducting a series of polls that examined the impact of the financial crisis on companies. Respondents were asked about the impact of the economy on their organizations in the previous six months and were asked to project how their company is likely to proceed in the next six months.<br />Poll updates were conducted twice a year to determine how businesses were adjusting their strategies in response to changes in the economy. The updates were conducted during the following times:<br />March 12 - March 16, 2009 (spring 2009 update)<br />October 29 - November 15, 2009 (fall 2009 update)<br />March 30 - April 13, 2010 (spring 2010 update)<br />November 8, 2010 - January 13, 2011 (fall 2010 update)<br />When possible, similar questions and response options from fall 2008, spring 2009, fall 2009, spring 2010 and fall 2010 are compared in this document. <br />.<br />2<br />
  • 3. Key Findings<br />Are Organizations Still Making Budget Cuts? The percentage of companies that made budget cuts across their entire organization decreased from 73% in fall 2009 to 60% in fall 2010 (slide 11). Also, fewer organizations in fall 2010 (21%) compared with fall 2009 (34%) reported that they were very likely to cut budgets across the entire organization if the economy did not improve (slide 21). <br />Will Employees See Pay Raises? One-quarter of organizations indicated that if the economy does not improve, they will very likely freeze employee wage increases. This is down from the same period in 2009, when one-third of organizations reported that freezing employee wage increases would very likely occur at their organization (slide 21).<br />The Impact of the Economy on Employee Benefits. Thirty-two percent of organizations reported that they will likely (“very likely” or “likely”) reduce employee benefit offerings if the economy does not improve. The top three benefits most likely to be reduced by these organizations were: health care coverage for employees, health care coverage for spouse/dependents and the amount of leave carryover from one year to the next (slide 23).<br />Organizations Likely to Move Forward with Plans for Business Growth/Expansion. Only 8% of organizations reported that they will very likely halt plans for business growth/expansion if the financial challenges to the economy continue (slide 19).<br />Are Organizations Hiring Laid Off Employees? The percentage of organizations that hired back employees who were previously laid off due to the financial challenges to the U.S. and global economy decreased from 43% in spring 2010 to 38% in fall 2010 (slide 9). <br />3<br />
  • 4. Summary of Key Data Points<br />4<br />
  • 5. Please indicate whether each of the following have occurred in your organization within the PAST SIX MONTHS as a result of the financial challenges to the U.S. and global economy.<br />5<br />Note: In fall 2008, respondents indicated changes occurring in the past 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; no data point for 2008 indicates that this particular question was not asked in fall 2008. <br />
  • 6. Please indicate whether each of the following have occurred in your organization within the PAST SIX MONTHS as a result of the financial challenges to the U.S. and global economy.<br />6<br />Note: In fall 2008, respondents indicated changes occurring in the past 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; no data point for 2008 indicates that this particular question was not asked in fall 2008. <br />
  • 7. Assuming the current financial challenges to the U.S. and global economy continue, what is the likelihood of each of the following to occur at your organization in the NEXT SIX MONTHS?<br />7<br />Note: Table represents “very likely” responses. In fall 2008, respondents indicated changes occurring in the next 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; no data point for 2008 indicates that this particular question was not asked in fall 2008. <br />
  • 8. Assuming the current financial challenges to the U.S. and global economy continue, what is the likelihood of each of the following to occur at your organization in the NEXT SIX MONTHS?<br />8<br />Note: Table represents “very likely” responses. In fall 2008, respondents indicated changes occurring in the next 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; no data point for 2008 indicates that this particular question was not asked in fall 2008. <br />
  • 9. Within the PAST SIX MONTHS, has your organization hired back any employees who were previously laid off due to the financial challenges to the U.S. and global economy?<br />9<br />Note: Excludes respondents whose organization did not lay off employees due to the financial challenges to the U.S. and global economy.<br />
  • 10. Changes Organizations Made Within the Past Six Monthsas a Result of the Financial Challenges to the U.S. and Global Economy<br />10<br />
  • 11. Please indicate whether each of the following have occurred in your organization within the PAST SIX MONTHS as a result of the financial challenges to the U.S. and global economy.<br />11<br />Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008<br />Note: In Fall 2008, respondents indicated changes occurring in the past 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; a dash (--) indicates that this particular question was not asked in fall 2008. <br />
  • 12. Please indicate whether each of the following have occurred in your organization within the PAST SIX MONTHS as a result of the financial challenges to the U.S. and global economy (continued).<br />12<br />Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008<br />Note: In Fall 2008, respondents indicated changes occurring in the past 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; a dash (--) indicates that this particular question was not asked in fall 2008. <br />
  • 13. Please indicate whether each of the following have occurred in your organization within the PAST SIX MONTHS as a result of the financial challenges to the U.S. and global economy.<br />Comparison by Organization’s Sector<br />Budget cuts across entire organizations: Government agencies (85%) were more likely to report cutting budgets across the entire organization than were privately owned for-profit (51%) organizations. <br />Allowed attrition: Publicly owned for-profit organizations (76%) were more likely to report that they allowed attrition than were privately owned for–profit organizations (55%).<br />Implemented layoffs: Publicly owned for-profit organizations (53%)were more likely to report that they implemented layoffs compared with privately owned for-profit organizations (31%).<br />13<br />
  • 14. Has your organization reduced employee benefits offerings within the PAST SIX MONTHS as a result of the financial challenges to the U.S. and global economy?<br />14<br />Note: In fall 2008, respondents indicated changes occurring in the past 12 months.<br />
  • 15. What employee benefits offerings has your organization reduced, frozen or eliminated within the PAST SIX MONTHS due to the financial challenges to the U.S. and global economy? (Fall 2010)<br />15<br />Of the 20% of companies that reduced benefits offerings:<br />Note: n = 76. Only respondents who indicated that their organizations had reduced employee benefits answered this question. <br />“Reduced” is defined as “decreased scope and/or amount of benefits offerings from prior levels.”<br />“Frozen” is defined as “benefits offering still exists, but no additional funds are being invested, no new employees are eligible for the benefit.”<br />“Eliminated completely” is defined as “the benefit no longer exists.”<br />“Not applicable” responses were excluded from this analysis. Percentages may not total 100% due to rounding. <br />
  • 16. What employee benefits offerings has your organization reduced within the PAST SIX MONTHS due to the financial challenges to the U.S. and global economy?<br />16<br />Fall 2010 compared with spring 2010, fall 2009 and spring 2009<br />Note: Table represents “reduced” responses. <br />
  • 17. 17<br />Please identify if your company has made cuts in each of the following areas in the PAST SIX MONTHS.<br />Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008<br />Note: In fall 2008, respondents selected the top five changes that occurred in the past 12 months. Percentages do not total 100% as respondents were allowed to select multiple response options.“Not applicable” responses were excluded from this analysis. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; a dash (--) indicates that this particular question was not asked in fall 2008. <br />
  • 18. Actions Organizations Are Likely to Take in the Next Six Months, Assuming the Current Financial Challenges to the U.S. and Global Economy Continue<br />18<br />
  • 19. Assuming the current financial challenges to the U.S. and global economy continue, what is the likelihood of each of the following to occur at your organization in the NEXT SIX MONTHS? <br />19<br />Note: n = 377. Percentages may not total 100% due to rounding. <br />
  • 20. Assuming the current financial challenges to the U.S. and global economy continue, what is the likelihood of each of the following to occur at your organization in the NEXT SIX MONTHS? (continued)<br />Note: n=384. Percentages may not total 100% due to rounding. <br />20<br />
  • 21. Assuming the current financial challenges to the U.S. and global economy continue, what is the likelihood of each of the following to occur at your organization in the NEXT SIX MONTHS?<br />21<br />Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008<br />Note: Table represents “very likely” responses. In fall 2008, respondents indicated changes occurring in the next 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; a dash (--) indicates that this particular question was not asked in fall 2008. <br />
  • 22. Assuming the current financial challenges to the U.S. and global economy continue, what is the likelihood of each of the following to occur at your organization in the NEXT SIX MONTHS? (continued)<br />22<br />Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008<br />Note: Table represents “very likely” responses. In fall 2008, respondents indicated changes occurring in the next 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; a dash (--) indicates that this particular question was not asked in fall 2008. <br />
  • 23. Assuming the current financial challenges to the U.S. and global economy continue, which employee benefits offerings is your organization likely to reduce, freeze or eliminate in the NEXT SIX MONTHS?<br />23<br />Of the 32% of companies that indicated they were likely (“very likely” or “likely”) to reduce benefits offering in the next six months:<br />Note: n = 116. Only respondents who indicated that their organizations were likely to reduce employee benefits answered this question. <br />“Reduce” is defined as “decreased scope and/or amount of benefits offerings from prior levels.”<br />“Freeze” is defined as “benefits offering still exists, but no additional funds are being invested, no new employees are eligible for the benefit.”<br />“Eliminate completely” is defined as “the benefit no longer exists.”<br />“Not applicable” responses were excluded from this analysis. Percentages may not total 100% due to rounding. <br />
  • 24. Assuming the current financial challenges to the U.S. and global economy continue, what is the likelihood of each of the following areas to experience cuts in the NEXT SIX MONTHS, if they have not already been cut?<br />24<br />Note: n = 351. Percentages may not total 100% due to rounding. <br />
  • 25. Demographics: Organization Industry<br />25<br />Note: n = 355 Percentages may not total 100% due to rounding.<br />
  • 26. Demographics: Organization Industry (continued)<br />26<br />Note: n=355. Percentages may not total 100% due to rounding.<br />
  • 27. Demographics: Organization Sector<br />27<br />Note: n= 354<br />
  • 28. Demographics: Organization Staff Size<br />28<br />Note: n = 218. Percentages do not total 100% due to rounding.<br />
  • 29. Demographics: Other <br />29<br />Is organization a single-unit company or a multi-unit company?<br />Does organization have U.S.-based <br />operations (business units) only or <br />does it operate multinationally?<br />Note: n = 352<br />Note: n = 357<br />Are HR policies and practices determined by the multi-unit corporate headquarters, by each work location or both?<br /><ul><li> 16% of organizations indicated that employees at their work location were unionized.</li></ul>Note: n = 353<br />Note: n = 254. Percentages do not total 100% due to rounding.<br />
  • 30. SHRM Poll: Financial Challenges to the U.S. and Global Economy and Their Impact on Organizations – Fall 2010 Update<br />Methodology<br />Response rate = 16%<br />Sample comprised of 405 randomly selected HR professionals from SHRM’s membership<br />Margin of error is +/- 5 <br />Survey fielded November 8, 2010 - January 13, 2011<br />30<br />

×