When a strong labor market takes hold, more employees see an opportunity to shop their value around. What can you do to prevent pent-up turnover in your workforce and plan for future organizational success? Maximizing the physical, emotional, career and financial wellbeing of employees empowers employers to attract, engage and retain top talent.
Support for career development and growth demonstrates that knowledge and skills are valued, which increases employee engagement and promotes better performance. 62% of employers are applying a strategy for improving engagement.1
Competitive compensation works together with benefits and HR programs to protect organizational health. 72% of employers increased base salary for FY 2021.1
The 2021 Workforce Trends Report: Career Wellbeing highlights engagement and compensation, presenting recent data and insights on current and emerging trends to help employers optimize their investments and remain competitive. The full report shows:
- How concerns about pent-up turnover are increasing employer focus on engagement strategies
- Why the use of employee engagement surveys has increased from 41% to 48% in the last three years
- How an incentivized approach to variable pay can actually save money and serve as an investment in future success
- Why only slight increases to base pay occurred in FY 2021, but proposed amounts are higher for 2022
Introducing the 2021 Workforce Trends Report series.
Receive even more benchmarking data with the complete 2021 Workforce Trends Report series. Access the complete series for only $650 by checking the box in the form field below. You can preview the data and insights available in the full series here.
This series of reports released throughout the year includes employer insights from Gallagher's biggest benefits surveys:
- 2021 Benefits Strategy & Benchmarking Survey
- 2021/2022 Salary Planning Survey
- 2021 HR Tech Survey
- 2021 Retirement Survey
1 Gallagher, "Salary Planning Survey," April 2021