Six Months Later: COVID-19 Employer Response Survey, Part 2
October 20, 2020 - Scottsdale, AZ
FOR IMMEDIATE RELEASE
Six Months Later: COVID-19 Employer Response Survey, Part 2 Comprehensive Assessment of How Organizations are Addressing the New World of Work
October 20, 2020 — Over the last six months, in light of the pandemic, companies have become more transparent about sharing financial information and, while there has been a small directional shift in the prioritization of revenue over employees, most companies continue to balance both considerations. The far-reaching “COVID-19 Employer Response Survey, Part 2,” conducted by WorldatWork and Salary.com, provides a window into how organizations address hazard pay, staffing/layoffs, caregiver benefits, office/workforce planning, future company-offered COVID-19 vaccines, and communications. The survey also assessed compensation planning, incentives, and business travel challenges currently facing organizations. (Journalists: contact email@example.com for copies of the results of the March and September surveys.)
Financial information. In September, 57% of organizations were sharing financial information related to COVID-19 with employees and 30% were offering personal finance guidance/tips, as compared to 33% and 19%, respectively, in April.
Revenue vs. employees’ concerns. While 53% of companies in April and 55% of companies in September were balancing employee and revenue needs equally, in September, 13% said they are prioritizing revenue/profit to some degree compared to 6% in April. In April, 41% said they were prioritizing workers to some degree compared to 34% in September.
Maintaining a competitive compensation position. Organizations are not very concerned about their ability to maintain a competitive compensation position to attract and retain talent; 52% are “not at all” or “slightly” concerned.
Caregiver benefits. Seventy percent of organizations are now offering additional support because of COVID-19, as compared to 40% in April. Sixty-seven percent offer flexible work scheduling for caregivers.
Layoffs. Organizations indicate temporary layoff activity has increased 29% and permanent layoff activity has increased 29%.
Virtual work social events. In September, 56% of organizations said they were holding virtual social events, as compared to 34% in April.
On-site COVID-19 vaccines. While 78% of organizations are providing PPE and are developing policies for employees to report COVID-19 symptoms, only 12% are planning to provide on-site COVID-19 vaccinations when they are available.
“It feels like the speed and scope of change over the past six months has been what we would have expected in six years, but the upside is that organizations are becoming more accustomed to quickly responding to employee needs,” said Scott Cawood, CEO of WorldatWork. “We are still a long way from business as usual, and employers find themselves continuing to pivot, sometimes with very hard decisions (e.g., temporary layoffs that are now permanent) and sometimes for the better (e.g., increased listening sensitivity to employee needs). WorldatWork will continue to monitor the numerous COVID-19-related workforce and workplace changes that impact the way the world is working.”
“Although more businesses are managing to cope with the contagion, the survey clearly shows that they are still concerned about the health of their employees, both physically and financially," said Chris Fusco, Senior Vice President of Compensation, Salary.com. "Responses with a low prevalence show that employers have an opportunity to do more to provide employees with peace-of-mind so that they can spend more time doing their jobs and less time worrying about the virus.”