Good Place to Work?

• Author: McKIMMIE, KATHY
• Position: Industry Overview - Statistical Data Included

How do your company's benefits compare?

It used to be easier. If a company wanted to make sure its benefits were competitive, it looked at the basics: health, pensions, life, vacation. Those things are still a given. But the list gets much longer.

The generation X'ers and Y's demand more balance between their work and life, says Mark McNulty, president of HR Dimensions, a human-resources consulting and outsourcing firm in Indianapolis. "Don't expect them to work long hours. They saw loyalty wasn't necessarily rewarded--with downsizing and layoffs," in their parents' generation.

When McNulty asks employers what works as a retention tool, he frequently hears mentoring. Although it's not traditionally considered a benefit, he says younger workers; in particular, appreciate the opportunity to get feedback on their jobs, making them feel more confident and comfortable in their positions.

Access to training and development, and understanding the company's career path, are also important. McNulty points to the companies in Fortune magazine's 100 Best Companies to Work For list, which average 40 hours of professional development per worker annually. Two Indiana-based companies, Eli Lilly and Guidant Corp., made Fortune's elite list.

Basically, anything that is used as a retention tool can be termed a benefit, says McNulty: "Work-life balance is lumped into the benefit area. It's very much a growing trend that started with the 100 Best Companies list."

McNulty says child-care assistance, and on-site convenience stores, banking and dry-cleaning services in a campus atmosphere are becoming more commonplace. "And underlying all that is a basic business reason--to help to attract and retain the best talent."

International accounting and management-consulting firm Deloitte & Touche has not only made the Fortune list for the three years the list has been running, but teaches other companies the secrets of becoming the best. "We walked the walk first," says Michael Becher, managing partner of the Indianapolis office. "Then we found that it was something we could help other companies and clients with.

"Fifty percent of our workforce was female and we were not making 50 percent partners," says Becher: The company's research showed that the women leaving needed a different work style. "We were losing our best people--it was a demanding environment.

Becoming an employer of choice was an evolution that took several years and emphasized work-life balance for all...