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What HR managers said: The outlook for business

Jim Giuliano
by Jim Giuliano
June 26, 2009
1 minute read
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A survey asked HR managers to predict their company’s key human-resources indicators. Here’s what they said.
The survey by WatsonWyatt found that 62% of companies that have made hiring freezes and 69%  of those that have made salary freezes plan to eliminate freezes within the next 12 months. And 48% that have reduced their employer 401(k)/403(b) matches plan to reinstate them over the next year.
More responses predicting 3-to-5-year trends at their companies:

  • Employees working past retirement age?
    More: 79%
    No change: 18%
    Fewer: 2%
  • Portion of healthcare costs paid by employees:
    More: 73%
    No change: 24%
    Less: 3%
  • Difficulty retaining critical-skill employees
    More: 45%
    No change: 45%
    Less: 11%
  • Salary-increase levels
    More: 28%
    No change: 45%
    Decrease: 26%
  • Staff sizes
    Increases: 22%
    No change: 26%
    Decreases: 52%
  • Employer contribution to 401(k) and similar plans
    Increase: 7%
    No change: 76%
    Decrease: 17%

More findings:

  • 24% of the companies surveyed believe their results have “bottomed out,” approximately double the number of participants who thought so in April.
  • 82% that will reverse hiring freezes will do so only partially, and retain them for some locations or positions.
  • 78% of those who expect to reverse a salary freeze will do so for all employees, and 78% of those who expect to reverse a salary reduction will restore salaries to original levels.
  • 39% will reverse at least some of their travel restrictions in the next 12 months or sooner.
  • 55% noticed a decrease in participant contributions to 401(k) or 403(b) plans.

Click here to see the full report.

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