Express Employment Professionals Celebrates 25 Years
This year marks the 25th anniversary of Express – and we’re celebrating with a new name, look, and logo. Express Employment Professionals is the latest evolution of our legacy of respecting people and impacting business. We’re here to serve you with the same expertise in evaluation and direct hire, temporary staffing, executive recruiting and human resources as always. Contact your local office for more information about how Express can help your business today
Generational Preferences Impact Rewards Design
According to a joint survey by Deloitte Consulting LLP and the International Society of Certified Employee Benefit Specialists (ISCEBS), 74% of 413 employers representing a cross section of companies by industry and size reported their top concern with their total rewards program was being able to retain, attract, and motivate talented workers. The survey defined “total rewards” as all compensation, benefits, and any other direct or indirect payments to employees. Of the respondents surveyed early in 2008, 84% reported they are redesigning their total rewards strategy to appeal to workers across the generations, and of those, 76% plan to look at their overall design.
SHRM.com – April 8, 2008
Workers Want Rewards Beyond Good Health
According to a survey released by Guardian Life Insurance Company of America, a provider of employee and voluntary benefits, nearly 43% of employees who participated in wellness programs in the past three years failed to stay committed to the plan. However, 68% of employees surveyed believe they would stick to a wellness program and adopt healthier lifestyles if incentives such as cash, gifts, and extra vacation days were given. The telephone survey, conducted in October 2007, consisted of 473 people who were 18 years of age or older and were employed either full-or part-time. Two-thirds of employees believe wellness programs are effective in promoting a healthier lifestyle.
SHRM.com – April 4, 2008
Small Firms Best at Preparing for Aging Workforce
Small businesses are more prepared for the shift in the workforce than large businesses as nearly 25 million Baby Boomers will reach retirement age by 2013. The oldest of the Baby Boomer generation will qualify for Social Security benefits this year. According to a recent survey released by the National Association of Professional Employer Organizations, of the 404 small businesses surveyed, 28% reported they had developed plans and strategies to transfer the knowledge and skills of older workers to younger workers. Another study from a global consulting and training firm, Novations Group, shared that less than 25% of the 2,046 human resource executives working in large businesses had made any effort to transfer skills and knowledge from Baby Boomers to younger employees, and only 4% of those businesses actually have a formal process in place to ensure the transfer.
SHRM.com – Mar. 19, 2008
Gas Prices Add to Wallet Woes
According to AAA and the Oil Price Information Service, average gas prices nationwide increased 3.6 cents to $3.34 per gallon. This is 58 cents higher than the average nationwide price of gas in April 2007. The energy department reported that retail gas prices are expected to peak above $3.60 per gallon this spring. However, some analysts predict gas prices will peak near $4 per gallon. Due to the price increase of crude oil, which jumped by more than $2 a barrel for the May delivery settling at $109.09, retail gas prices are rising over concerns of supply and demand. With crude oil prices increasing, oil refineries must pay more money to refine gas. Refineries have cut back on gasoline production because of low-profit margins, analysts say.
The Associated Press – April 7, 2008
Consumer Spending Cools
A Bloomberg survey of 62 economists states that economic growth will stall during the first six months of 2008 due to a slowdown in consumer spending. Consumer spending accounts for two-thirds of the economy. Economists anticipate that consumer spending will increase in the second half of 2008 when Americans receive their tax rebates from the government.
Bloomberg.com – April 9, 2008
Employment Situation Summary
The unemployment rate increased to 5.1% in March, up from 4.8% in February, as employers added 80,000 fewer jobs to their payrolls. Construction, manufacturing, retail, and financial services overshadowed the gain in education, health care, leisure and hospitality, and government jobs. Click here for the most recent employment report from the Bureau of Labor Statistics.
Major Industry Employment for March 2008
• Construction: - 51,000
• Manufacturing: - 48,000
• Retail Trade: - 12,000
• Professional & Business Services: - 35,000
• Educational & Health Services: + 42,000
• Leisure & Hospitality: + 18,000
• Government: + 18,000
Economic Trends is a publication of Express Services, Inc., Oklahoma City, Oklahoma. © 2008.