RPI Newsletter_Q4_2017_Web

Report evaluates talent battle in West Michigan, Nation

Credit: Grand Rapids Business Journal “Report looks at tools in talent battle” September 22, 2017 Rachel Watson, Reporter www.grbj.com/articles/88952-report- looks-at-tools-in-talent-battle Arthur J. Gallagher & Co. recently released its new 2017 Benefits Strategy and Benchmarking Survey, with data collected from 4,226 U.S. companies, including 144 fromMichiganand 28 fromWestMichigan. The survey revealed new insights intoWest Michigan’s talent attraction and retention efforts by local CEOs. In reviewing the data provided by regional employers, BryanHirn, Michigan area president for Gallagher’s benefits and HE consulting division stated, “One of the takeaways from this report is that if you’re in the C-suite trying to figure out how do we attract, motivate and retain people, you really need to take a look at benefits and compensation: traditional benefits, paid time off, communication, activity involvement and wellness. You need to make those decisions based on data, not on guesses.” The survey respondents include Gallagher clients as well as other employers across the country. InWest Michigan, about half (13) of respondents were in the education

sector, and the rest were manufacturing, public entity, business services, construction, technology, and restaurant and hospitality organizations. The survey found that, although West Michigan companies acknowledged that competitive benefits and compensation were key to attracting and retaining talent, most could not pinpoint why employees either stayed or left. “What is interesting about West Michigan is more than half of the respondents have not done a survey to determine what their employees want to be engaged, stay motivated and stay with the employer,” Hirn said. The survey also revealed that successful retention rates might include effective employee engagement initiatives such as company picnics, softball teams, and celebrating employees’ milestones, such as birthdays, marriages and the birth of children. “In West Michigan, 33 percent of the respondents offer volunteer opportunities

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TALENT BATTLE

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