Global professional services firm Andersen has this week unveiled the key findings from its Internet workforce remuneration and benefits survey 'dot.
Andersen 'dot.comp' survey unveils what really matters to today's Internet workforce
Conducted online, the survey found that the number one human resources (HR) issue facing Internet businesses continues to be skills shortages, with 54% of companies ranking this as one of their top three issues.
Training and development, and reward, ranked two and three respectively with participants commenting that they were focusing more on building their current team than recruiting.
A further finding revealed that over two thirds of participants have some form of share option plan in place.
With the fall in share prices over the past few months many of these options are now underwater and this is becoming a major issue. Employers are increasingly going to need to develop new and innovative reward strategies.
Sue Wilson, who heads up Andersen's Human Capital Practice in Cambridge, comments: 'Solutions to the problem of underwater options have been a recent subject of lively debate in the US where accounting issues make re-pricing problematic. However, the accounting and corporate governance issues in the UK are different to the US and creative solutions are needed.'
Annual incentive plans proved very popular with 72% of companies operating them. More long term incentive plans, share option plans in particular, have traditionally been seen as the glue that has held together the whole dot.com business model. 67% of companies surveyed had some form of share option plan in place, with this figure rising to 74% in independent dot.com businesses.
Overall, 40% of survey participants operate a discretionary share option plan, 35% an Inland Revenue approved share option plan, and 6% a cash phantom share option plan.
So, if long hours, intense pressure of work, low cash remuneration and little job security are accepted as the flip side of the dot.com employment equation, what exactly is the upside? According to the 'dot.comp' survey the answer lies in the following perks and benefits:
The Andersen Human Capital 'dot.comp' survey ran from 26 February to 12 April 2001. Participation was free and took place online via the Andersen website.
Over 150 organisations registered with 68 companies providing information on 21 positions.
For details on how to obtain a full copy of the survey, which is available to all non-participants at a cost of 600, contact Janet Maskelyne at Andersen, Cambridge, on firstname.lastname@example.org or visit http://www.andersen.com/dotcomp
Further information: Janet Maskelyne, Arthur Andersen, Betjeman House, 104 Hills Road, Cambridge CB2 1LH.
Tel: 01223 353906.
Press information: Jacquie Warner, The Focus Group, William James House, Cowley Road, Cambridge CB4 OWX.
Tel: 01223 426666.
Fax: 01223 426662.