New Study Released by HCI and Knowledge Universe, U.S Links the Impact of Family-Friendly and Work-Life Benefits & Policies to Companies’ Overall Talent Strategies
HCI and Knowledge Universe Provide Step by Step Process for Implementing and Measuring Work-Life Benefits Policies
BROOKLYN, NY — July 19, 2013 — The Human Capital Institute (HCI) has unveiled its results from a national study conducted with Knowledge Universe — U.S., identifying how organizations utilize and measure the impact of work-life policies and benefits to help drive their overall talent strategy. More than 400 organizations of different sizes and types across North America responded to the survey, with 73% of respondents working in the human resources function at their organization.
As the amount of conflict between work and personal hours of employees increases, the balance between their lives and work is being upended. This study explores how benefits and policies that help employees better manage and integrate their work and personal lives are used to support an employer’s talent management strategy. The results of this study are as follows:
- Work flexibility is table stakes at organizations and over 72% report it was very important for attraction and retention.
- The majority of professionals in Human Resources Director positions or above rated benefits like on-site child care and back-up elder care as very effective for attracting and retaining employees.
- Benefits and policies lead to many important organizational outcomes such as increased job satisfaction (cited by 71% of survey respondents), decreased absenteeism (53%), and decreased turnover (57%).
- Managers are not adequately trained to be able to effectively manage benefits or properly handle the work-life demands of their employees. Participants reported that offering work-life benefits and policies had a 57% reduction in employees’ stress levels and a 32% reduction in managers’ stress levels.
- A supportive work-life organizational culture is critical. The most impact on positive employee outcomes (job satisfaction, turnover, engagement) occurred when organizations offered benefits/policies and fostered a culture of organizational work-life support. These types of organizations are called Work-Life Integrators and represented 29% of organizations.
- The inability to calculate ROI of benefit offerings are major limiting factors to implementation; 56% reported they do not measure outcomes or ROI of their work-life benefits and policies.
As more and more companies now offer some form of work flexibility, offering pro-family benefits are a key way to differentiate oneself from the competition. Because these policies are good for attraction and retention of talent, companies may view them as wise investments.
This research is now available for download at HCI’s website. To download the full report, please visit http://www.hci.org/hr-research/family-friendly-workplace-integrating-employees-work-and-life-and-impact-talent.
Accompanying this report is an infographic illustrating a step-by-step process for implementing and measuring work-life beneficial policies. Visit http://www.hci.org/blog/infographic-best-practices-family-friendly-and-flexibility-benefits-implementation to learn more.
About KNOWLEDGE UNIVERSE
Knowledge Universe® believes that the power of education changes lives. Every day more than 300,000 children across the globe take their first steps, learn to read and prepare for school through our early childhood and school-age programs in a nurturing and safe environment. The Knowledge Universe – United States family of companies includes KinderCare® Learning Centers, CCLC®, Champions®, Cambridge Schools™, Knowledge Beginnings®, and The Grove School® where more than 31,000 people help children discover books, music, science, sports, cooking, and language in a nurturing and safe environment. Knowledge Universe serves both community families as well as corporations across all sectors to provide child care solutions, offering services through well-recognized institutions in early childhood, primary, secondary, and higher education. To learn more, visit us online at: http://www.kueducation.com/us.
About Human Capital Institute (HCI)
HCI is the global association for strategic talent management and new economy leadership, and a clearinghouse for best practices and new ideas. Our network of expert practitioners, Fortune 1000 and Global 2000 corporations, government agencies, global consultants and business schools contribute a stream of constantly evolving information, the best of which is organized, analyzed and shared with members through HCI communities, research, education and events. For more information, please visit www.hci.org.