By the Numbers: DEI and the Hybrid Workplace
Published On: March 25, 2022
Each week, the Mployer Advisor team parses through dozens of reports, industry news, updates, and headlines. Not every statistic or data set warrants an exclusive blog post, but there are numbers that deserve to be reported on a smaller scale.
Here are some of the top numbers that caught our attention over the past two weeks:
The percentage of managers and executives who see in-office employees as higher achievers than their remote counterparts, according to a recent Gartner survey. Furthermore, 76% believe that in-office workers are more likely to be promoted than remote workers. To learn more about the benefits of diversity in the workplace and best practices, click here.
This is the average federal student loan debt balance, according to data from the Education Data Initiative. What’s more, an incredible 40 million Americans have outstanding federal education debt. With the federal government’s pause on student loan payments set to expire this year, employees will need more help than ever paying back their loans. Currently, only 8% of employers offer student loan repayment assistance. Download Mployer Advisor’s comprehensive 2022 Mployer Insights Benefits Report for the industry’s best-in-class benchmarking and to see how your benefits compare.
This is the female executive pay gap, according to a new Morningstar report. Twenty-five percent marks the widest since 2012. On average, women in the U.S. earn 83% of what men do, in part because women hold lower-paying jobs. Still, Morningstar's analysis revealed gender gaps remain even among the nation’s highest earners. For instance, at the current rate of progress, Morningstar reports that will take women four more decades to reach parity in the C-suite.
The number of PTO days left unused each year by over 55% of employees, according to a recent article from Forbes. A related article from BenefitsPro explained that it’s more difficult for white-collar workers to take time off because of the stigma associated with taking PTO and the guilt that often comes with it. Of course, less time off can lead to higher burnout rates among employees. Could a 4-day workweek be the solution?
The average pay increase employers gave employees in 2021, according to an article by HR Executive. However, the average hourly earnings decreased 2.6% from February of last year to February of this year, according to the Bureau of Labor Statistics. In summary, compensation increases last year barely covered the rise of inflation. Furthermore, according to data by a Willis Towers Watson survey, employers have only budgeted 3.4% for compensation increases in 2022; with inflation nearing all-time highs, these compensation increases are unlikely to make much of a dent in employees’ finances.
The percentage of companies requiring COVID-19 vaccinations that offered incentives to employees, according to data from the U.S. Bureau of Labor Statistics. These incentives included remaining on the clock while getting vaccinated, paid time off, or other financial incentives.
Looking for more exclusive content? Check out the latest over on the Mployer Advisor blog, and be sure to read the most recent By the Numbers: Benefits Confusion and Record Resignation Numbers.
Sarah Ann Johnson
Marketing Analyst, Mployer Advisor