Employers/employees align on reward priorities.

• Author: Heffes, Ellen M.
• Position: BENEFITS

Employer and employee interests align around health, personal responsibility and cost reduction, according to the 16th annual Top Five Total Rewards Priorities survey, sponsored jointly by Deloitte Consulting LLP and the International Society of Certified Employee Benefit Specialists.

The recent survey findings underscore the impact of the financial crisis for both employers and employees. According to Tim Phoenix, principal, Deloitte Consulting, containing rewards program costs is a top strategic challenge facing organizations today. Somewhat surprisingly, he says, employees recognize this challenge and are taking renewed personal responsibility, emphasizing personal health.

Deloitte argues that while hunkering down and focusing on cost may help a company survive this recession, it may also represent a risk for companies that want to be positioned to take full advantage of the economic recovery. "Both personal and business decisions today are often being driven by the economy," said Richard Kleinert, principal, Deloitte Consulting. "Focusing on cost may help a company survive this recession, but it should not be at the risk of talent management."

Other survey findings from an employee perspective include:

* 77 percent are worried about their ability to afford retirement and 60 percent were apprehensive about staying employed.

*...