Poll Charts Rebound In Worker Loyalty

The notion that the tight American labor market has eroded worker loyalty is bogus, according to a new study by Aon Consulting.

Aon’s Workforce Commitment Index, which reflects employee loyalty and the business practices that drive it, bounced back this year after a drop in 1998. This year’s reading of 100.3 was the highest point since the index was established in 1997.

Here are some findings:

* About 25 percent of employees would change jobs for a pay raise of 10 percent, while more than half would leave their current jobs for a pay raise of 20 percent.

* Among all the things an organization does or could do, management’s recognition of the importance of personal and family life remains the top driver of employee loyalty.

Other key factors affecting work force commitment, in order, are the extent to which employers provide opportunities for personal growth, satisfy customer needs, communicate about benefits and ensure that skills of co-workers keep pace with increasing job requirements.

Work force commitment is highest in the finance and insurance industry (WCI score of 108), and lowest in the service industry (98.5).

Generation X workers, with a WCI score of 96.1, are generally less committed than their co-workers over age 30, who have an average score of 102.

Salad days for geeks

Job prospects for this year’s crop of college grads remain strong, but the outlook is best for those with training in computer science, health care, medicine, finance, media and entertainment and for-profit education.

Starting pay reflects what’s hot and what’s not. According to a survey by the National Association of Colleges and Employers, English majors are being offered an average of $28,272. Psychology majors are getting even less, an average of $26,955.

By comparison, computer science majors are getting an average of $46,562.

Bonus babies

While many Americans hope for a big cash bonus at work, most use the money for mundane purposes once they get it.

A survey of 1,000 Americans taken by the polling company Wirthlin Worldwide for American Express found that 29 percent of the respondents used their last cash bonus or reward to pay bills. Another 18 percent don’t remember where the money went.

Only 9 percent used the money for something special, and 5 percent took a vacation. Other uses for the money included gifts for family members, the purchase of household items and deposits to savings.

Special delivery

The Internet will play a larger role in job training in the future. The American Society of Training and Development says the Net is likely to become the premier means of delivering learning programs by the end of next year.