Report of Results from Sibson’s 2009 Rewards of Work Study
Sibson Consulting's Rewards of Work Study examines the Employee Value Proposition (EVP) model, which represents and measures how employees feel about the rewards they receive in return for their expected contribution to the organization. There are five elements of rewards in Sibson's EVP model: Affiliation, Benefits, Career, Compensation and Work Content. The 2009 Rewards of Work Study found higher average favorability ratings compared to the 2006 Rewards of Work Study (the previous study) for almost all elements of the EVP. This may be attributable to the economic conditions at the time the survey was conducted. During a recession, employees may value having a job and may be more inclined to perceive most of their EVP elements favorably.
Sibson examined the study data by segments of respondents, revealing some notable, if unsurprising, differences. The average favorability for the EVP among participants at organizations that had layoffs was lower than among all other study participants. Average favorability for the EVP was also lower among participants who were concerned about being laid off than among participants who did not share that worry. There were also some demographic differences. Younger workers, those in the 21-to-35 year-old age group (the "millennials"), were less likely than all other age groups to view the EVP favorably. The opposite was true for retirement-age workers.
Sibson's Rewards of Work Study also examines Engagement. Under Sibson's definition of Engagement, an engaged employee "Knows What To Do" (understands the "Vision" of the company) and "Wants to Do It" (demonstrates "Commitment" to the company). The Rewards of Work Study found that just over half of participants were "Engaged."
In addition, the Rewards of Work Study looks at Turnover Intentions. It is not surprising that the 2009 study, which was conducted during the recession, found a significant drop in the percentage of employees intending to leave their organization in the short term.
The Rewards of Work Study findings suggest that employers may have an opportunity to rebalance their EVP.