© 2010 Yankelovich, part of The Futures Company Preparing for uncertainty March 26, 2010 Prepared for: CIGNA

© 2010 Yankelovich, part of The Futures Company

Preparing for uncertainty

March 26, 2010Prepared for: CIGNA

© 2010 Yankelovich, part of The Futures Company 2

Table of contents

• Study objectives and methodology 3

• Key takeaways 5

• The workplace - revisited 10

• Workplace attitudes 19

• Preparing for uncertainty 22

• Employer offerings 29

• Sample characteristics / Occupation type definitions 32


Study objectives and methodology

• Yankelovich, a part of The Futures Company, conducted a survey among U.S. full- and part-time employees on behalf of CIGNA, in order to:

– Determine whether the meaning of work as it relates to wellbeing (whether employees “live to work” or “work to live”) has changed over time

– Understand whether employees believe injury or illness are a risk that can be managed

– Learn what steps, if any, consumers have taken to prepare for the possibility of being out of work either through job loss or unexpected illness or injury

– Understand employee awareness of programs and services that are available

– Survey results were obtained through phone interviews among a national sample of 956 full and part-time employed Americans, aged 18 and over. Interviews were conducted March 4th through March 8th, 2010.

• This random-digit-dial sample was fully replicated and stratified by region. Only one interview was conducted per household. All sample numbers selected were subject to up to four attempts to complete an interview.

• The sampling error for this study is +/- 3.1 percentage points.


Study objectives and methodology (continued)

• For tracking purposes two questions used in this year’s study were also asked in 2009. Those questions are:

• “Which of the following most closely fits with how you would describe your view of your job?”

• And a follow up question: “Can you tell me why you think that’s the case?” (among those who described their view under “live to work”)

• In 2009 the study was conducted among full-time employees only (N = 742); therefore, the year-over-year comparisons are made with those full-time employees surveyed in 2010 (N = 762).

• Statistically significant differences between 2009 and 2010 are denoted by an asterisk (*) or are contained in a red box ( ). (Significant at the 90% confidence level)


Key takeaways


Key Takeaways - The recession continues to take its toll

• People continue to value the role that work has in their lives

• How people relate to their jobs is a shifting landscape (Findings among full-time employees only)

• Today, fewer full-time employees say they are primarily working for the paycheck

• Last year, more women than men said they “lived to work” – today that gap has closed

– More women say they feel stuck because of the economy or that they are working for the benefits

• Among those “living to work,” their reasons for holding that view have also changed

– Today, men are more likely to say they enjoy their job and “live to work” so they can provide for their family, and because it is the responsible thing to do

– Of those women who continue to say they “live to work,” they are more likely to say they feel accomplished, proud, and needed


Key Takeaways - Employees say they can balance work with their personal lives, but they still want help

• While 92% of full- and part-time employees say they are successful in balancing their work responsibilities with their personal lives, nearly two-thirds (64%) admit they would find it valuable to learn more about what they can do to strike a good balance

• Younger workers are more likely than their older counterparts to want help striking a good balance

• Most employees give their employers high marks:

• Seven in ten employees say their employer does a good job in helping them strike a balance


Key Takeaways - A sizeable portion of the workforce is taking steps to prepare for an uncertain future

• Half of all employees say they have prepared for one or both of two scenarios: (1) the possibility of getting laid off from their job, and (2) the possibility that an illness or injury could keep them from work for a prolonged period of time

• More than a third of all employees say they have prepared for the possibility that they could be laid off from their jobs

– The overwhelming means of preparation: saving money

– And more than a third of all employees say they have prepared for the possibility that an illness or injury could keep them away from work for a prolonged period of time

– The overwhelming means of preparation: saving money and/or buying new or additional disability insurance

• Nearly nine in ten employees say an injury or illness is a risk that can be managed

• The two most common ways to prepare: saving more money and purchasing new or additional disability insurance

• Yet, fewer say they have actively taken steps in the past 6 months to prepare for an illness or injury that could keep them out of work for a prolonged period of time


Key Takeaways - Four in ten employees say their employer does not offer a program or service to help them prepare for the possibility of an illness or injury

• A third of those who say their employer does offer such services say short-term and/or long-term disability insurance is available

• White collar workers are more likely than blue collar or service workers to say such programs or services are available to them

• The reported availability of services also differs by occupation type:

– White collar workers are more likely to say they have short term disability coverage

– Blue collar workers are more likely to say they have wellness programs or other types of supplemental insurance

– Service workers are more likely to say they have sick time or paid sick leave


The workplace - revisited


Live to work63%

Work to live36%

Overall, nearly two-thirds of employees enjoy their job and say they “live to work”

Which of the following most closely fits with how you would describe your view of your job?

33%You like your job, you get a sense of satisfaction from going to work each day

18%You love your job, you would do it even if you won the lottery

12%Your job is great, it gives your life structure and purpose

15%Your job is okay, you primarily work for the paycheck

8%You'd rather be doing something else, but right now you feel stuck because of the economy

8%Your job is okay, you primarily work for the benefits, like health insurance

6%You'd rather be retired, but you just need to save a little more money first

1% Don’t know/refused

• Nearly one in five say they would stay at their job if they won the lottery

(2010 Data Only)


13%

19%

35%

67%

11%

14%

25%

50%

Your job is great, it givesyour life structure and

purpose

You love your job, youwould do it even if you won

the lottery

You like your job, you get asense of satisfaction from

going to work each day

"Live to work"

Part Time

Full Time


Full-time employees are more likely than part-time employees to say they “live to work”

67% of full-time employees “live to

work”

vs. 50% of part-time employees

(2010 Data Only)


21%

20%

19%

16%

14%

9%

8%

12%

10%

5%

0%

1%

3%

0%

1%

0%

2%

1%

13%

30%

28%

25%

14%

13%

12%

11%

11%

10%

9%

2%

1%

1%

1%

1%

1%

1%

0%

11%

I feel a sense of accomplishment/Like to get things done

I like the people I work with/Meet interesting people

I am proud of my work

My work makes a difference in the community/world/Etc

I feel needed/Important

I get to see/Do interesting things

I can provide for my family

Values/Work ethic

I enjoy my job, it's a good fit

It's the responsible thing to do

Worked there for many years

I'm good at what I do

I am paid well

Good company/employer

Don''t know/Refused

Good benefits

It is flexible/I have freedom

Gets me out of the house

Something else

Part Time

Full Time

Reasons for “living to work” differ by employment type

Percentages are among those who say they “Live to work”Unaided responses, multiple responses accepted.

Why do you think you enjoy your job and “live to

work”?

(2010 Data Only)

• Full-time employees are more likely than part-time employees to say they “live to work” because they feel a sense of accomplishment, get to work with interesting people, and are proud of their work


5%

8%

8%

12%

33%

8%

6%

9%

27%

50%

You'd rather be retired, but youjust need to save a little more

money first

Your job is okay, you primarilywork for the benefits, like health

insurance

You'd rather be doing somethingelse, but right now you feel stuck

because of the economy

Your job is okay, you primarilywork for the paycheck

Work to live (Net)

Part Time

Full Time

• 27% say they “primarily work for the paycheck” compared to 12% of full-time employees

Part-time employees are more likely to say they “work to live”


50% of part-time employees “work to

live”vs. 33% of full-time

employees

(2010 Data Only)


67%

35%

13%

19%

32%

11%

8%

5%

8%

1%

65%

31%

13%

21%

35%

17%

6%

5%

7%

1%

Live to work (Net)

You like your job, you get a sense of satisfaction from goingto work each day

Your job is great, it gives your life structure and purpose

You love your job, you would do it even if you won thelottery

Work to live (Net)

Your job is okay, you primarily work for the paycheck

Your job is okay, you primarily work for the benefits, likehealth insurance

You'd rather be retired, but you just need to save a littlemore money first

You'd rather be doing something else, but right now you feelstuck because of the economy

Don't know/Refused

2010 - Full Time

2009 - Full Time

People continue to value the role that work has in their lives

• While fewer say they primarily work for their paycheck (11% in 2010 compared to 17% in 2009)

Which of the following most closely fits with

how you would describe your view of

your job?

(2010 Data Only)

*

*

*Statistically significant difference from 2009 at the 90% confidence level.


30%

28%

25%

14%

13%

12%

11%

11%

10%

9%

1%

2%

1%

1%

1%

1%

11%

1%

25%

27%

22%

16%

8%

9%

7%

7%

9%

4%

3%

1%

7%

2%

I feel a sense of accomplishment/Like to get things done

I like the people I work with/Meet interesting people

I am proud of my work

My work makes a difference in the community/World/Etc

I feel needed/Important

I get to see/Do interesting things

Values/Work ethic

I can provide for my family

I enjoy my job, it’s a good fit

It's the responsible thing to do

I am paid well

Worked there for many years

I'm good at what I do

Good company/employer

Good benefits

It is flexible/I have freedom

Something else

Don't know/Refused

2010 - Full Time

2009 - Full Time

This year, those full-time employees who say they “live to work” show an even greater appreciation for their jobs

• Compared to last year, more full-time employees say they “live to work” because it gives them a sense of accomplishment, they feel needed, and can provide for their family


Why do you think you enjoy your job and “live to

work”?

*Statistically significant difference from 2009 at the 90% confidence level.

*

*

*

*

*


• In 2009, women were more likely than men to say they “live to work” (71% vs. 59%, respectively); while today, the gap has closed – both are equally as likely to say they “live to work.” Today two-thirds (66%) of both men and women say they “live to work.”

• Fewer men say they “primarily work for the paycheck”

Over the past year, the gap has closed between men and women on whether they “live to work” or “work to live”

Full-Time Employees ONLY


Men (2010)

Men (2009)

Women (2010)

Women (2009)

Base: 399 401 363 341

Live to work (Net) 66% 59% 66% 71%

You like your job, you get a sense of satisfaction from going to work each day 33% 29% 37% 31%

You love your job, you would do it even if you won the lottery 22% 20% 15% 23%

Your job is great, it gives your life structure and purpose 11% 10% 14% 17%

Work to live (Net) 33% 40% 32% 28%

Your job is okay, you primarily work for the paycheck 13% 19% 10% 13%

You'd rather be doing something else, but right now you feel stuck because of the economy 8% 9% 7% 3%

Your job is okay, you primarily work for the benefits, like health insurance 6% 7% 10% 6%

You'd rather be retired, but you just need to save a little more money first 6% 5% 5% 6%

Don’t know/Refused 1% 1% 2% 1%

(2010 and 2009 Data)

Contains statistically significant differences from 2009 at the 90% confidence level.



• Men are more likely to say they “live to work” because they can provide for their family and it’s the responsible thing to do

• While women are more likely to say they are proud of their work, feel accomplished and needed, and get to see/do interesting things

Reasons for “living to work” are changing - both for men and women

Full-Time Employees ONLY

Why do you think you enjoy your job and “live to work”?(Top 10 reasons shown)

Men (2010)

Men (2009)

Women (2010)

Women (2009)

Base: 399 401 363 341

I feel a sense of accomplishment/Like to get things done 27% 25% 34% 26%

I like the people I work with/Meet interesting people 23% 21% 32% 33%

I am proud of my work 28% 26% 23% 17%

My work makes a difference in the community/world/Etc 9% 12% 20% 19%

I feel needed/Important 11% 9% 15% 8%

I get to see/Do interesting things 12% 11% 12% 6%

I can provide for my family 14% 7% 8% 6%

Values/Work ethic 11% 8% 11% 6%

I enjoy my job, it's a good fit 11% 10% 9% 9%

It's the responsible thing to do 10% 2% 8% 5%

(2010 and 2009 Data)


Contains statistically significant differences from 2009 at the 90% confidence level.


Workplace attitudes


64%

71%

92%

I am successful inbalancing my work

responsibilities with mypersonal life

My employer does agood job in helping me

to balance my workresponsibilities with my

personal life

I would find it valuableto learn more about

things I can do to betterbalance my work lifewith my personal life

• And yet two-thirds say they would find it valuable to learn more about things they can do to better strike that balance – indicating that people may not be as successful as they claim

Nearly all employees say they are successful in balancing their work responsibilities with their personal life

Please tell me how much you agree or disagree with the following statements. Do you agree strongly, agree somewhat, disagree somewhat or disagree strongly? (% who Agree Strongly / Somewhat)


• And men are more interested than women.

Younger workers are more interested in learning about how to balance work with their personal lives

Gender Age*

Total Male Female 18-34 35-44 45-54 55-64 65+**

Base: 956 479 477 326 245 229 115 28

Agree (Net) 64% 68% 60% 74% 67% 57% 51% 48%

Agree strongly 28% 28% 28% 30% 31% 26% 23% 24%

Agree somewhat 36% 40% 32% 44% 36% 31% 28% 24%

Disagree (Net) 35% 32% 39% 26% 33% 43% 47% 49%

Disagree somewhat 19% 17% 21% 15% 17% 26% 20% 28%

Disagree strongly 16% 14% 18% 11% 16% 17% 27% 22%

Don't know/Refused 1% 0 1% 0 0 0 2% 3%

Please tell me how much you agree or disagree with the following statement. Do you agree strongly, agree somewhat, disagree somewhat or disagree strongly? (% who Agree Strongly / Somewhat)

“I would find it valuable to learn more about things I can do to better balance my work life with my personal life”

**Small base.


Preparing for uncertainty


In the past 6 months, half of all employees have prepared either for getting laid off or for an illness/injury that would prevent them from being at work

20%

17%

16%

47%

Have preparedfor BOTH

getting laid offand illness/injury

Have preparedfor getting laidoff, but not forillness/injury

Have preparedfor illness/injury,

but not forgetting laid off

Haven'tprepared for

either

Total

53%have prepared for one, the other, or both

Have you taken any steps in the past SIX

MONTHS to prepare for the possibility that you might be laid off from

your job?

AND

Have you PERSONALLY taken any steps in the

PAST 6 MONTHS to prepare for the

possibility that an illness or injury could keep you from being able to work

for longer than just a few days?


Yes37%

No63%

Nearly four in ten employees have taken steps in the past 6 months to prepare for the possibility of being laid off

Among all employees (full- and part-time):

Have you taken any steps in the past SIX

MONTHS to prepare for the possibility that you might be laid off from

your job?

**Small base.


Can you tell me what you did?(Among those who have taken steps in the past 6 months)

Yes37%No

63%

Seven in ten of those who have taken steps for the possibility of being laid off say they are saving more money

• Far fewer say they are taking other steps, like cutting expenses, looking for new opportunities, or working harder

6%

5%

5%

4%

1%

1%

1%

1%

9%

2%

6%

11%

12%

71%

Have you taken any steps in the past SIX MONTHS to prepare for the possibility that

you might be laid off from your job?

Saved more money

Cut family expenses/Budget/Down-sized my home

Looked for new job/Career opportunities

Considered or began side work/A second job to bring in extra money

Worked harder/Tried to advance at work

Started new career/Job training/Sought an advanced degree

Paid/Paying off debt

Expanded my professional network

Investments

Consulted financial advisor/planner

Stockpiling food/household supplies

Not using credit cards/only for emergency

Something else

Don't know/Refused

Unaided responses, multiple responses accepted.


3%

2%

1%

3%

3%

11%

54%

32%

16%

9%

Nearly nine in ten employees believe something can be done to prepare for the possibility of an illness or injury that could keep them out of work

86%Believe there is something they can do

What can a person do to prepare for the possibility that an illness or injury could keep them from being able to work


• Saving money and/or purchasing new or additional disability insurance are the two most commonly mentioned ways to prepare for the possibility of such an illness or injury

Unaided responses, multiple responses accepted.

Save more money so there's a financial cushion

Purchase new or additional disability insurance

Try to be healthier or stay well

Try to be safer - Don't do things where I might get hurt

Have insurance/different types of insurance

Get out of debt/live within your means

Don't abuse sick time/save sick time

Something else

Nothing, accidents and illnesses are unavoidable

Don't know/Refused


Yes36%

No63%

Don't know/Ref1%

And about a third of all employees say they have personally taken steps in the past 6 months to prepare for the possibility of an illness or injury that could keep them out of work

Among all employees (full- and part-time):Have you PERSONALLY taken any steps in the PAST

6 MONTHS to prepare for the possibility that an

illness or injury could keep you from being able to work



4%

4%

4%

1%

8%

2%

51%

32%

18%

6%

Can you tell me what steps you took?(Among those who have taken steps in the past 6 months)

Yes36%

No63%

Don't know /ref1%

A third of those who said they have taken steps in the past 6 months for illness/injury say they have purchased new or additional disability insurance

• Half say they have saved more money for a financial cushion

Have you PERSONALLY taken any steps in the PAST 6 MONTHS to prepare for the possibility that an illness or injury could

keep you from being able to work for longer than just a few days?

Saved more money so there's a financial cushion

Purchased new or additional disability insurance

Tried to be healthier/Stay well

Tried to be safer - Don't do things where I might get hurt

Accumulated sick/vacation days

Have insurance/different types of insurance

Paid/Paying off debt

Go back to school/continuing education

Something else

Don't know/Refused


Employer offerings


Yes58%

No39%

Don't Know3%

Six in ten employees say their employer has some type of program or service that can help them prepare for an illness or injury that could keep them out of work

• Four in ten say they do not have such programs or services available to them.

Among all employees (full- and part-time):

Does your employer have any programs or services

that help you to prepare for the possibility that an

illness or injury could keep you from being able to work



Can you tell me what kind of programs your employer offers?(Among those who said their employer offers a program)

Yes58%

No39%

Don't know /ref3%

A third of those who say their employer offers a program say short-term and/or long-term disability insurance is available• Sick time or paid sick leave is the next most commonly mentioned program.

Does your employer have any programs or services that help you to prepare for the possibility that an illness or injury could keep you from being able to

work for longer than just a few days? 11%

9%

9%

6%

4%

3%

2%

2%

1%

1%

1%

1%

4%

5%

35%

35%

29%

12%

Short term disability coverage/Leave

Long term disability insurance

Sick time/Paid sick leave

Wellness programs at work

Family medical leave

Employee assistance program

Pension with disability provision

Workplace safety programs

Supplemental insurance or voluntary service

Health insurance/insurance

Workers' compensation

Disability coverage (unspecified)

Flexible work options/work from home

Counseling programs

Personal time/vacation time

401(k)/retirement plan

Something else

Don't know/Refused


Sample characteristics / Occupation type definitions


Sample characteristicsTotal Employees

(N=956)

GenderMale 50%

Female 50%

Age18-34 34%

35-44 26%

45-54 24%

55-64 12%

65+ 3%

Refused/no response 1%

Region Northeast 20%

North Central 22%

South 35%

West 23%

Type of CityMetro 75%

Non-Metro 25%

Education High School or less 27%

Some College, but no degree 18%

Associates degree 11%

College Degree or more 42%

Refused/No response 2%

Total Employees

(N=956)

Employment StatusEmployed Full-time 80%

Employed Part-time 20%

Occupation (see definitions on slide 37) White collar 60%

Blue collar 23%

Service worker 14%

Other/not reported 3%

Annual Household IncomeLess than $50k 32%

$50k to less than $100k 35%

$100k or more 23%

I don’t know/Prefer not to answer 10%

Marital StatusMarried 59%

Single/never married 24%

Separated/Divorced/ Widowed 13%

Living as married 3%

No response 1%


Sample characteristics (continued)

Total Employees(N=956)

RaceWhite/Caucasian 72%

Black/African American 13%

Asian/Asian-American 2%

Some other race 12%


Spanish, Hispanic or LatinoYes 14%

No 85%


Political AffiliationDemocrat 26%

Republican 31%

Independent 37%

Other Party 2%

Don’t know/Refused 4%

Own or Rent DwellingOwn 72%

Rent 22%

Not reported 6%

Total Employees

(N=956)

Head of HouseholdYes 84%

No 15%


Number in HouseholdOne 10%

Two 29%

Three 21%

Four 24%

Five or more 16%

No response -

Children under 12 years (asked among those with 2+ HH members)

Yes, have kids under 12 years 36%

No, no kids under 12 years 54%

Don’t know/no response -

Children 12-17 years (asked among those with 2+ HH members)

Yes, have kids 12-17 24%

No, no kids 12-17 65%

Don’t know/no response 1%


Occupation Definitions

Occupation

• The occupation classification refers to the occupation of the respondent. The types of positions included in each category are:

– Professional/Manager/Owner: Executives, Professionals, Technical and Kindred Workers, Managers, Officials, and Proprietors

– White Collar ‑ Sales/Clerical: Clerical, Office and Secretarial Workers, and Sales Agents and Workers

– Blue Collar - Craftsmen/Foremen: Craftsmen, Foremen, Kindred Workers, Carpenters, Plumbers, Electricians, Mechanics, and Bakers

– Blue Collar - Semi-Skilled/Unskilled: Apprentices, Laborers, Assembly Line Workers, Motormen and Fishermen

– Service Workers: Housekeepers in Private Households, Police, Beauticians, Barbers, Security Guards, Waitresses and Waiters

Documents

© 2010 Yankelovich, part of The Futures Company Preparing for uncertainty March 26, 2010 Prepared for: CIGNA