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March 11, 2011 SHRM Poll: Financial Challenges to the U.S. and Global Economy and Their Impact on Organizations—Fall 2010 Update

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Page 1: Shrm poll economy_fall10_final

March 11, 2011

SHRM Poll: Financial Challenges to the U.S. and Global Economy and Their Impact on Organizations—Fall 2010 Update

Page 2: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

Introduction

A Comparison of the Financial Challenges to the U.S. and Global Economy Poll Data from Fall 2008 to Fall 2010.• 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.

• 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:

• March 12 - March 16, 2009 (spring 2009 update)• October 29 - November 15, 2009 (fall 2009 update)• March 30 - April 13, 2010 (spring 2010 update)• November 8, 2010 - January 13, 2011 (fall 2010 update)

• When possible, similar questions and response options from fall 2008, spring 2009, fall 2009, spring 2010 and fall 2010 are compared in this document.

• . 2

Page 3: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011 3

Key Findings

• 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).

• 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).

• 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).

• 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).

• 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).

Page 4: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011 4

Summary of Key Data Points

Page 5: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011 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.

Fall 2008 Spring 2009 Fall 2009 Spring 2010 Fall 20100%

10%

20%

30%

40%

50%

60%

3%

49%54%

52%

39%48% 47%

52%

43%

36%

44%

48% 46%

38%

Froze employee wage increases Implemented layoffs Cut employees bonuses

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.

Page 6: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011 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.

Fall 2008 Spring 2009 Fall 2009 Spring 2010 Fall 20100%

10%

20%

30%

40%

50%

60%

70%

80%

71%73%

67%

60%

42%

37%32%

25%

16%20% 20%

17%

Made budget cuts across the entire organization

Halted plans for business growth/expansion

Outsourced certain business functions

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.

Page 7: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011 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?

Fall 2008 Spring 2009 Fall 2009 Spring 2010 Fall 20100%

10%

20%

30%

40%

18%

37%

33%

25% 25%

16%

24% 21%

13%

11%

21%

32% 32%

20%

21%

Freeze employee wage increases Implement layoffs Cut employees bonuses

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.

Page 8: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011 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?

Fall 2008 Spring 2009 Fall 2009 Spring 2010 Fall 20100%

10%

20%

30%

40%

50%

32%

43%

34%

20% 21%20%

16%

12%

8%

3%6%

9%

6%5%

Make budget cuts across the entire organization Halt plans for business growth/expansion

Outsource certain business functions

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.

Page 9: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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?

Fall 2009 (n = 288)

Spring 2010 (n = 211)

Fall 2010, (n = 210)

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

70%

55%

62%

30%

45%

38%

No, we have not rehired employees who were laid off Yes, we've rehired employees who were laid off

9

Note: Excludes respondents whose organization did not lay off employees due to the financial challenges to the U.S. and global economy.

Page 10: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

Changes Organizations Made Within the Past Six Months as a Result of the Financial Challenges to the U.S. and Global Economy

10

Page 11: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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.

11

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.

Fall 2010(n = 406)

Spring 2010

(n = 414)

Fall 2009(n = 371)

Spring 2009

(n = 462)

Fall 2008 (n = 633)

Allowed attrition 64% 65% 63% 63% 72%

Made budget cuts across the entire organization 60% 67% 73% 71% --

Retrained employees for new positions in organization 42% 43% 42% 34% 10%

Froze employee wage increases 39% 52% 54% 49% 3%

Cut employee bonuses 38% 46% 48% 44% --

Implemented layoffs 36% 43% 52% 47% 48%

Implemented hiring freezes (no new hires) 33% 39% 42% 52% 48%

Halted plans for business growth/expansion 25% 32% 37% 42% --

Hired more contract/temporary/contingent workers than usual 23% 19% 16% 8% 12%

Did not renew contracts with existing contract/temporary/ contingent workers 20% 30% 33% 27% 21%

Outsourced certain business functions 17% 20% 20% 16% --

Reduced employee work hours with reduction in pay 13% 18% 18% 20% 17%

Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008

Page 12: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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).

12

Fall 2010(n = 406)

Spring 2010

(n = 414)

Fall 2009(n = 371)

Spring 2009

(n = 462)

Fall 2008 (n = 633)

Restructured executive compensation and/or executive severance packages (in addition to what may be specified in federal bailout legislation)

11% 13% 15% 18% --

Offered early retirement to employees 10% 10% 10% 10% 6%

Implemented salary reductions (without reduction in hours) 9% 11% 15% 15% 5%

Implemented employee furloughs for select employees without shutting down entire business 8% 10% 10% 9% --

Offered job sharing 8% 9% 7% 7% 5%

Demoted employees to lower-pay positions as a way to save money 7% 9% 12% 9% --

Had been acquired by or merged with another company 7% 3% 2% 3% --

Shut down business for short periods of time without paying employees 6% 7% 8% 5% 7%

Introduced full-time telecommuting for employees to save on building and maintenance costs 5% 6% 6% 4% --

Acquired or merged with another company 4% 9% 6% 6% 9%

Reduced organization wide workweek with no reduction in pay 3% 5% 7% 6% --

Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008

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.

Page 13: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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.

• 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.

• 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%).

• 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%).

13

Comparison by Organization’s Sector

Page 14: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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?

Fall 2008 (n = 633) Spring 2009 (n = 465) Fall 2009 (n = 339) Spring 2010 (n = 397) Fall 2010 (n = 375)

-10%

0%

10%

20%

30%

10%

17%19% 18%

20%

Yes

14

Note: In fall 2008, respondents indicated changes occurring in the past 12 months.

Page 15: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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)

Paid vacation time only

Paid personal days only

Paid sick time only

Workplace flexibility benefits (e.g., telecommuting, flex time, compressed workweeks)

Paid time off (includes sick, vacation and personal days all in one plan)

Employer match to the defined contribution retirement savings plan (e.g., 401 (k))

The amount of employee leave carryover from one year to the next

Defined benefit pension plan

The amount of employee leave accruals/balances

Company-paid relocation programs

Health care coverage for spouses/dependents

Health care coverage for employees

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

9%

22%

27%

33%

38%

44%

46%

47%

54%

55%

89%

91%

91%

67%

64%

58%

57%

51%

42%

35%

42%

20%

9%

9%

0%

11%

9%

8%

5%

5%

13%

18%

4%

25%

2%

0%

Reduced Frozen Eliminated completely

15

Note: n = 76. Only respondents who indicated that their organizations had reduced employee benefits answered this question. “Reduced” is defined as “decreased scope and/or amount of benefits offerings from prior levels.”“Frozen” is defined as “benefits offering still exists, but no additional funds are being invested, no new employees are eligible for the benefit.”“Eliminated completely” is defined as “the benefit no longer exists.” “Not applicable” responses were excluded from this analysis. Percentages may not total 100% due to rounding.

Of the 20% of companies that reduced benefits offerings:

Page 16: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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?

16

Fall 2010 (n = 76)

Spring 2010

(n = 72)

Fall 2009(n = 46)

Spring 2009

(n = 47)

Health care coverage for employees 91% 75% 85% 78%

Health care coverage for spouses/dependents 89% 70% 84% 72%

Company-paid relocation programs 55% 70% 58% 55%

The amount of employee leave accruals/balances 54% 56% 64% 35%

Defined benefit pension plan 47% 38% 33% 27%

The amount of employee leave carryover from one year to the next 46% 53% 59% 57%

Employer match to defined contribution retirement savings plan (e.g., 401 (k))

44% 48% 67% 47%

Paid time off (includes sick, vacation and personal days all in one plan) 38% 53% 47% 44%

Workplace flexibility benefits (e.g., telecommuting, flex time, compressed workweeks)

33% 46% 70% 33%

Paid sick time only 27% 15% 29% 31%

Paid personal days only 22% 13% 13% 27%

Paid vacation time only 9% 27% 14% 40%

Note: Table represents “reduced” responses.

Fall 2010 compared with spring 2010, fall 2009 and spring 2009

Page 17: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011 17

Fall 2010(n = 367)

Spring 2010

(n = 314)Fall 2009(n = 341)

Spring 2009

(n = 403)Fall 2008(n = 633)

Morale- and team-building activities 42% 45% 49% 51% 57%

Travel costs (excluding per diem) related to professional development* 40% 52% 58% 47% -

Recruitment-related advertising, travel and reliance on paid recruiters 30% 35% 47% 56% 51%

Professional development for employees 30% 34% 37% 37% 44%

Refreshments/snacks for employees 27% 27% 32% 33% 36%

Spot awards 21% 23% 30% 32% 16%

Reduction in per diem allowance for travel and entertainment 19% 28% 23% 26% 19%All-staff training on general topics that are not specifically related to company's core business 17% 24% 28% 28% 39%Tuition reimbursement/education assistance 16% 14% 20% 18% 11%

HR-related technology (e.g., applicant tracking and payroll systems) 10% 14% 14% 18% 23%

Discretionary legal advice 10% 13% 15% 20% 13%Fitness and stress management initiatives 10% 12% 16% 13% 13%

Recruitment initiatives specifically related to increasing diversity of company's workforce 8% 12% 15% 18% 10%

Volunteer and philanthropic activities 7% 12% 13% 16% 15%Environmental initiatives (e.g., recycling campaigns) 6% 8% 6% 8% 4%

Transit and parking subsidies 6% 7% 7% 6% 2%

Please identify if your company has made cuts in each of the following areas in the PAST SIX MONTHS.Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008

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.

Page 18: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

Actions Organizations Are Likely to Take in the Next Six Months, Assuming the Current Financial Challenges to the U.S. and Global Economy Continue

18

Page 19: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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?

Acquire or merge with another company

Outsource certain business functions

Hire more contract/temporary/contingent workers than usual

Reduce employee benefits offerings

Halt plans for business growth/expansion

Retrain employees for new positions in organization

Implement layoffs

Not renew contracts with existing contract/temporary/contingent workers

Implement hiring freezes (no new hires)

Cut employee bonuses

Make budget cuts across entire organization

Freeze employee wage increases

Allow attrition

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

64%

31%

31%

28%

35%

16%

31%

24%

24%

23%

15%

22%

14%

21%

41%

41%

40%

36%

29%

31%

36%

30%

31%

28%

29%

21%

11%

22%

23%

24%

20%

44%

27%

28%

30%

26%

36%

24%

39%

4%

5%

5%

8%

8%

11%

11%

12%

16%

21%

21%

25%

26%

Not all likely Somewhat unlikely Somewhat likely Very likely

19

Note: n = 377. Percentages may not total 100% due to rounding.

Page 20: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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)

Go out of business

Demote employees to lower-paying positions as a way to save money

Be acquired or merge with another company

Reduce organizationwide workweek with no reduction in pay

Offer job sharing

Offer early retirement to employees

Introduce full-time telecommuting for employees to save on building and maintenance costs

Shut down business for short periods of time without paying employees

Reduce employee work hours with reduction in pay

Implement salary reductions (without reductions in hours)

Restructure executive compensation/severance packages

Implement employee furloughs for select employees without shutting down entire business

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

84%

52%

77%

67%

54%

54%

73%

68%

51%

51%

41%

61%

14%

38%

17%

26%

34%

32%

18%

21%

34%

36%

42%

26%

1%

9%

4%

5%

10%

12%

7%

8%

12%

10%

14%

9%

1%

1%

2%

2%

2%

2%

3%

3%

3%

3%

3%

4%

Not all likely Somewhat unlikely Somewhat likely Very likely

20Note: n=384. Percentages may not total 100% due to rounding.

Page 21: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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?

21

Fall 2010 (n = 377)

Spring 2010

(n = 387)

Fall 2009(n = 371)

Spring 2009

(n = 462)

Fall 2008 (n = 633)

Allow attrition 26% 23% 29% 40% --

Freeze employee wage increases 25% 25% 33% 37% 18%

Make budget cuts across entire organization 21% 20% 34% 43% 32%

Cut employee bonuses 21% 20% 32% 32% 21%

Implement hiring freezes (no new hires) 16% 20% 23% 40% 26%

Not renew contracts with existing contract/temporary/contingent workers 12% 14% 18% 19% --

Implement layoffs 11% 13% 21% 24% 16%

Retrain employees for new positions in organization 11% 10% 13% 10% --

Halt plans for business growth/expansion 8% 12% 16% 20% --

Reduce employee benefits offerings 8% 6% 13% 5% --

Hire more contract/temporary/contingent workers than usual 5% 9% 5% 3% --

Outsource certain business functions 5% 6% 9% 6% 3%

Acquire or merge with another company 4% 5% 6% 2% --

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.

Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008

Page 22: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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)

22

Fall 2010 (n = 377)

Spring 2010

(n = 387)

Fall 2009(n = 371)

Spring 2009

(n = 462)

Fall 2008 (n = 633)

Implement employee furloughs for select employees without shutting down entire business 4% 4% 8% 5% --

Restructure executive compensation/severance packages 3% 4% 8% 9% 5%

Implement salary reductions (without reductions in hours) 3% 5% 6% 8% --

Reduce employee work hours with reduction in pay 3% 4% 6% 7% --

Shut down business for short periods of time without paying employees 3% 4% 6% 4% --

Introduce full-time telecommuting for employees to save on building and maintenance costs 3% 2% 3% 3% --

Offer early retirement to employees 2% 5% 6% 5% --

Offer job sharing 2% 4% 4% 4% --

Reduce organization-wide workweek with no reduction in pay 2% 3% 5% 4% --

Be acquired or merged with another company 2% 2% 4% 1% --

Demote employees to lower-paying positions as a way to save money 1% 2% 3% 3% --

Go out of business 1% 1% 2% 1% --

Fall 2010 compared with spring 2010, fall 2009, spring 2009 and fall 2008

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.

Page 23: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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?

Paid vacation time only

Paid personal days only

Defined benefit pension plan

Employer match to the defined contribution retirement savings plan (e.g., 401 (k))

Company-paid relocation programs

Paid time off (includes sick, vacation and personal days all in one plan)

Paid sick time only

Workplace flexibility benefits (e.g., telecommuting, flex time, compressed workweeks)

The amount of employee leave accruals/balances

The amount of employee leave carryover from one year to the next

Health care coverage for spouses/dependents

Health care coverage for employees

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

40%

50%

53%

58%

59%

61%

62%

62%

65%

72%

84%

85%

60%

39%

35%

36%

23%

39%

38%

35%

33%

28%

15%

15%

0%

11%

12%

7%

18%

0%

0%

4%

2%

0%

1%

0%

Reduce Freeze Eliminate completely

23

Note: n = 116. Only respondents who indicated that their organizations were likely to reduce employee benefits answered this question. “Reduce” is defined as “decreased scope and/or amount of benefits offerings from prior levels.”“Freeze” is defined as “benefits offering still exists, but no additional funds are being invested, no new employees are eligible for the benefit.”“Eliminate completely” is defined as “the benefit no longer exists.” “Not applicable” responses were excluded from this analysis. Percentages may not total 100% due to rounding.

Of the 32% of companies that indicated they were likely (“very likely” or “likely”) to reduce benefits offering in the next six months:

Page 24: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

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?

Discretionary legal advice

HR-related technology (e.g., applicant tracking and payroll systems)

Environmental initiatives

All-staff training on general topics that are not specifically related to company's core business

Professional development for employees

Volunteer and philanthropic activities

Recruitment initiative specifically related to increasing diversity of your workforce

Per diem allowance for travel and entertainment

Tuition reimbursement/education assistance

Fitness and stress management initiatives

Travel costs (excluding per diem) related to professional development

Morale- and team-building activities

Refreshments/snacks for employees

Recruitment-related advertising, travel and reliance on paid recruiters

Transit and parking subsides

Spot awards

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

44%

45%

46%

37%

28%

47%

40%

29%

40%

39%

23%

24%

35%

29%

46%

33%

40%

35%

38%

33%

37%

31%

33%

32%

30%

31%

30%

31%

26%

26%

24%

29%

11%

15%

10%

23%

27%

12%

14%

26%

15%

13%

31%

28%

22%

25%

10%

17%

6%

6%

7%

7%

8%

10%

13%

14%

15%

16%

16%

16%

17%

20%

20%

21%

Not all likely Somewhat unlikely Somewhat likely Very likely

24Note: n = 351. Percentages may not total 100% due to rounding.

Page 25: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

Demographics: Organization Industry

Industry

Manufacturing—other 18%

Health care, social assistance (e.g., nursing homes, EAP providers) 12%

Services—professional, scientific, technical, legal, engineering 9%

Educational services/education 9%

Financial services (e.g., banking) 6%

Retail/wholesale trade 5%

Government/public administration—federal, state/local, tribal 5%

Other services (e.g., nonprofit, church/religious organizations) 4%

Transportation, warehousing (e.g., distribution) 4%

Insurance 3%

25

Note: n = 355 Percentages may not total 100% due to rounding.

Page 26: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

Demographics: Organization Industry (continued)

Industry

High-tech 3%

Services—accommodation, food and drinking places 3%

Construction, mining, oil and gas 2%

Utilities 2%

Association—professional/trade 2%

Publishing, broadcasting, other media 2%

Manufacturing—auto/auto related 1%

Arts, entertainment, recreation 1%

Telecommunications 1%

Pharmaceutical 1%

Real estate, rental, leasing 1%

Biotech 1%

Other 5%

26

Note: n=355. Percentages may not total 100% due to rounding.

Page 27: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

Demographics: Organization Sector

Other

Government sector

Nonprofit organization

Publicly owned for-profit organization

Privately owned for-profit organization

0% 10% 20% 30% 40% 50%

6%

7%

19%

20%

48%

27

Note: n= 354

Page 28: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

Demographics: Organization Staff Size

1 to

99

empl

oyee

s

100

to 4

99 e

mpl

oyee

s

500

to 2

499

empl

oyee

s

2500

to 2

4999

em

ploy

ees

2500

0 or

mor

e em

ploy

ees

0%

10%

20%

30%

40%

50%

17%

30%

22% 24%

8%

28

Note: n = 218. Percentages do not total 100% due to rounding.

Page 29: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

Demographics: Other

29

Note: n = 357

U.S.-based operations 71%

Multinational operations 29%

Single-unit company: A company in which the location and the company are one and the same.

31%

Multi-unit company: A company that has more than one location.

69%

Multi-unit headquarters determines HR policies and practices

48%

Each work location determines HR policies and practices

3%

A combination of both the work location and the multi-unit headquarters determine HR policies and practices

48%

Is organization a single-unit company or a multi-unit company?

Are HR policies and practices determined by the multi-unit corporate headquarters, by each work location or both?

Does organization have U.S.-based operations (business units) only or does it operate multinationally?

Note: n = 352

Note: n = 254. Percentages do not total 100% due to rounding.

• 16% of organizations indicated that employees at their work location were unionized.

Note: n = 353

Page 30: Shrm poll economy_fall10_final

Financial Challenges – Fall 2010 Update| ©SHRM 2011

SHRM Poll: Financial Challenges to the U.S. and Global Economy and Their Impact on Organizations – Fall 2010 Update

• Response rate = 16%• Sample comprised of 405 randomly selected HR

professionals from SHRM’s membership• Margin of error is +/- 5 • Survey fielded November 8, 2010 - January 13,

2011

30

Methodology