employee rewards Infographics

Contingent Workforce Trends at U.S. Technology Companies

As Millennials make up a greater portion of the workforce and look for flexibility in their working arrangements, more companies are hiring contract, gig and freelance workers. An impressive 94% of U.S. technology companies currently hire contingent workers, and over 21% of those plan to increase the number of contingent workers this year. Organizations will need to rethink their total rewards packages as well as how they attract and retain such workers.

Contingent Workforce Trends at U.S. Life Sciences Companies

Contract and freelance workers increasingly make up a greater population of the workforce as life sciences companies turn to outsourcing to save on overhead costs. 92% of U.S. life sciences companies currently hire contingent workers, and more than 35% of those plan to increase their contingent worker population this year. This trend may also signify that companies are more cautious about full-time employee buildout until they have a solidified product to bring to market.

New business challenges are shifting talent demands. Is your business ready to meet them?

The digital age is forcing companies in every sector to compete for a finite group of key technical, creative and business talent, and it’s changing what they require of talent, as well as what talent requires of them.

From career ladders to career climbing walls: How fluid is your job architecture framework?

As companies seek to hire more digital talent, many find that the historical career ladder approach with simple vertical progression no longer resonates. Instead, employees seek the opportunities to learn and grow across disciplines or geographies. To support this, companies need a job structure that balances both consistency and flexibility, as well as allows for compelling career paths. While most companies may not be able to attain an "open market" approach to job architecture, taking steps to allow for customizable career growth for employees will help ensure the employment value equation balances out. Learn more in the infographic below and read Using Job Architecture to Enable Digital Transformation for even more rich insights.

Hot Skills and Pay Premiums at US and Chinese Technology Companies

In today’s super-charged talent market, technology companies around the globe are engaged in a fierce contest to attract and retain people who possess highly prized skills. In late 2017 and early 2018, we conducted surveys of technology companies in the US and China to assess the hot skills companies are most interested in acquiring, and in some cases, willing to pay hefty compensation premiums for.

Country-Level Compensation Data Isn’t Good Enough Anymore in the Technology Sector

In today’s dynamic global economy, country-level survey data doesn’t always cut it anymore. In larger countries with geographically dispersed technical talent, pay is just as likely to be influenced by local economic factors as it is in the US where geographic differences have long been viewed as important considerations. The bottom line: it’s imperative to consider the local view.

Yes, it is Possible to Give Your Top Performers More with a 3% Merit Budget

Is it possible to give your top performers a big annual salary increase when you only have a 3% merit budget? Yes, but you have to be willing to make tradeoffs, including reducing the size of salary adjustments for your meets expectations employees and cutting overall participation in the annual merit pool.

Questions to Ask Yourself When Trying to Better Manage Your Equity Compensation Spend

An effective equity strategy balances external competitiveness, internal constraints and company culture—but not all of these things can be weighted equally. If you’re thinking about changing your equity strategy, here are some of the primary design levers your company can pull to make smart choices aligned with your organization’s needs.

Q1 2017 Turnover Rates & Hiring Sentiment by Industry at US Technology Companies

In aggregate, the competition for talent at technology sector companies remains very strong. However, some industries face much tougher hiring and employee retention conditions than others. Our new infographic explores workforce trends across software, hardware, semiconductor and medical device companies.
 

Q1 2017 Turnover Rates & Hiring Sentiment by Commercial Stage at US Life Sciences Companies

The competition for talent at US life sciences companies remains energetic. Nearly half of pre-commercial firms currently report plans to hire aggressively to continue ramping up R&D. Things are slightly more subdued at commercial companies, but voluntary turnover remains high, suggesting ample job opportunities.
 

Technology Sector Employee Engagement & Recognition Practices

Recognition is a key driver of employee engagement, but as the pace of business continues to accelerate, more companies are starting to supplement traditional top-down, cash-based programs (which are still highly valued) with more frequent opportunities for peer-to-peer recognition. 

Life Sciences Sector Employee Engagement & Recognition Practices

Only 38% of life sciences companies formally measure employee engagement, which puts them well-behind their innovative brethren in the technology sector. It's time for life sciences companies to take the pulse of their workforces. We also know recognition is a key driver of engagement, so companies can make a quick impact by taking a look at their recognition portfolio. Recognition awards can involve cash, but the importance of non-monetary awards should not be discounted. "Thank you" is a powerful tool.

Promotion Practices & Budgets

What percentage of your staff will you promote this year? And when you do hand out those coveted promotions, what sort of raises should your employees expect to receive? Our latest infographic explores how technology and life sciences companies answered these questions.