Many companies are facing particular challenges retaining their valued employees. These companies are searching for ways to help their employees feel valued and motivated while still adhering to their existing compensation philosophies and principles. Deloitte Consulting LLP’s survey was designed to capture ways companies are approaching this problem.

This survey was conducted in September 2008 and closed at the end of the month. At that time, the market was down 25 percent year to date. The survey generated 151 responses from companies of all sizes in all industries.

Key findings of the survey include:

• 41 percent of companies expect their annual incentive plans to pay out at or above target, fully 59 percent expect a pay-out below target and 11 percent believe that their current annual incentive plan will not yield a bonus at all this year
• 40 percent of those surveyed said they have already implemented a retention program, one-third are taking a “wait and see” approach, and 27 percent said they currently have no plans to adopt a retention program
• 78 percent of survey respondents do not plan to change their current incentive plan and 53 percent of companies are planning to adjust next year’s annual incentive plans because of current economic conditions

Donwload the full report below.

Related Content:
Press Release: Incentive Plans Are Hit Hard By Economy As Companies Evaluate Alternative To Retain Valuable Employees
Overview: Upending the Economic Downturn
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Resources: Sales Force Effectiveness Framework
Survey: 401k Benchmarking