This site uses cookies to provide you with a more responsive and personalized service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print this page

Retention Strategies During Difficult Economic Conditions

Results from a Deloitte survey


DOWNLOAD  

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.

Related links

Share this page

Email this Send to LinkedIn Send to Facebook Tweet this More sharing options

Stay connected