Employment and Benefits Outlook

In a recent survey of human resources professionals and managers conducted by the Society for Human Resource Management, the majority of respondents agreed that turnover will rise significantly once the job market improves, which they predict will occur within the next year. The 2012 Aflac WorkForces Report, conducted in partnership with Research Now, confirms these findings. The report shows that nearly half (49 percent) of workers are at least somewhat likely to look for a new job in the next 12 months, and 27 percent are very or extremely likely.

For employers who are concerned about this foreshadowing of turnover, the Aflac report suggests that organizations boost their employee benefits programs, claiming that "workers who are extremely or very satisfied with their benefits program are nine times more likely to stay with their employer, compared to those workers who are dissatisfied with their benefits program."

The good news is that many employers are making positive changes for employees during the next several months. Aflac's 2012 pay and benefits outlook reveals these findings:

• Nineteen percent of employers will cut back on hiring this year, compared with 41 percent who cut back on hiring during the past 12 months.
• Seventeen percent of employers will eliminate or delay raises in 2012, compared with 41 percent last year.
• Twenty-four percent of employers are offering smaller raises this year, compared with 44 percent last year.
• Twelve percent of employers plan to lay off staff in 2012, compared with 29 percent who laid off staff during the past 12 months.