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Top Business Concerns and the Impact on HR

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Half of the top 10 business concerns directly impact HR practices for employers. Benefits advisors and brokers have a chance to help lessen the blow and mitigate the risks clients are facing.

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Top Business Concerns and the Impact on HR

  1. 1. Half of the Top 10 Concerns1 of US Businesses Will Directly Impact HR What will you do to help lessen the blow?
  2. 2. The top 10 concerns for U.S. businesses according to Duke’s Fuqua School of Business 1. Economic uncertainty 2. Attracting/Retaining EEs 3. Compliance requirements 4. Cost of Benefits 5. Weak demand for product/services 6. Government policy 7. Employee productivity 8. Data security 9. Employee morale 10.Access to Capital
  3. 3. We are focusing on the 5 having the most direct impact on HR: The high cost of their impact & links to additional resources 1. Economic uncertainty 2. ATTRACTING/RETAINING EEs 3. COMPLIANCE REQUIREMENTS 4. COST OF BENEFITS 5. Weak demand for product/services 6. Government policy 7. EMPLOYEE PRODUCTIVITY 8. Data security 9. EMPLOYEE MORALE
  4. 4. Attracting And Retaining Quality Employees Why they’re concerned Cost to replace lost employee = 90% - 200% of annual compensation (SHRM) Click for more attraction/ retention ideas
  5. 5. Compliance Why they’re concerned The low end fine for late delivery of the SPD = $10,000 (US DOL) Click for more compliance ideas
  6. 6. Cost of Benefits Why they’re concerned You already know the answer to this one! Click for more cost of benefits ideas
  7. 7. Employee PRODUCTIVITY Why they’re concerned 22% improvement in net profit margin when performance is properly managed (Hackett Group) Click for more productivity ideas
  8. 8. Employee Engagement Why they’re concerned $.37 of every payroll dollar is lost due to poor employee engagement (Gallup) Click for more engagement ideas
  9. 9. If you need a little help yourself as you commit to helping your clients address these top concerns, click to visit us online. 1 Top concerns from Duke’s Fuqua School of Business / CFO Magazine Global Business Outlook