Talent Issues Overtaking Health Care Cost Control as Top Reward Priority

Yet more evidence of the tightening market for talent, and the sea change that it is driving in reward program management and priorities.

In the newly released 2007 Top Five Total Rewards Priority Survey conducted by Deloitte Consulting LLP and the International Society of Certified Employee Benefits Specialists (ISCEBS), results highlight the balancing act now faced by HR professionals between controlling health care costs and attracting and retaining workforce talent.  While survey respondents did identify health care costs as the number one priority for 2007, the need to provide their organizations with talented workers appears to be closing the gap (#2 with a bullet!). 

The shift taking place is apparent when comparing 2006 and 2007 survey results (see below).

Controlling Health Care Costs

• In 2006, 91% of respondents identified this as one of their top five priorities.
• In 2007, 80% of respondents identified this as one of their top five priorities.

Attracting, Motivating and Retaining Talent

• In 2006, 56% of respondents identified this as one of their top five priorities.
• In 2007, 75% of respondents identified this as one of their top five priorities.

Comments

[Frank Giancola]

Unique survey. Thanks for making us aware of it.
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AB - Not a problem, Frank! Part of what I am trying to accomplish with this blog is to dig out and highlight some of the good research out there that can help us practitioners keep abreast of trends and developments.