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VIP Innovations
Contact: Eva A. Jenkins
1717 K Street, NW
Suite #600
Washington, D.C.
(202) 973-0179
Website: www.vipinnovations.com
FOR IMMEDIATE RELEASE
Battling High Health Care Costs is Priority
#1
For Area Companies, Says New Study
WASHINGTON, DC Oct. 3 – Putting a lid on escalating health
care costs is the top priority of human resources managers throughout
the tri-state area, according to a recent survey, followed by attracting
and retaining good employees. In a July 2003 study conducted by
training and consulting firm VIP Innovations and Lumen Research
Associates, 51% of HR managers said that controlling health care
costs was their company’s most critical challenge. Attracting
new employees rated second on the list of people-related issues
at 47%.
“It’s no surprise that rising health insurance premiums
are placing a drag on an already sluggish economy,” says VIP
Innovations founder Eva A. Jenkins. “However, HR managers’
concerns about finding top talent indicate that both the employed
and unemployed still have ‘wiggle room’ with employers.
In certain industries, at least, people don’t have to take
what they can get.”
Leading the list of company-wide priorities for HR managers was
“reducing costs” at 65%, followed by undertaking reorganizations
(15%) and issues such as improved recruiting, churn (or turnover)
management and developing new corporate policies.
Within HR departments themselves, respondents said that “strengthening
customer relationships was most critical (36%). This was followed
closely by “addressing new business needs” at 30%
and “building capabilities within the existing HR staff”
(28%).
The survey also found that budgeting for HR departments has remained
largely unchanged since 2002, with 56% of those polled saying
their budgets are roughly the same as last year’s. One in
four HR managers (25%) reported that their companies allocated
smaller budgets to HR than in 2002, while 20% reported larger
budgets.
The VIP Innovations/Lumen Research survey was designed to assess
the priorities of human resources managers in Maryland, Virginia
and the District of Columbia. Only those companies with 50 to 1,000
employees were targeted.
VIP Innovations, LLC serves new and existing businesses with products
and services that include: workshops on 30 different topics; high-performance
training programs focused on leadership, sales and team building;
management consulting; and employee assessments that evaluate personnel
in various career stages.
For more information on VIP Staffing or VIP Innovations, call (202)
973-0179 or
Contact Us.
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