Last year, almost 40 million Americans quit their jobs in what economists have coined “The Great Resignation.” Driven by the shift towards remote work, high burnout rates and government stimulus programs, this exodus puts enormous pressure on companies to not only attract but retain talent in an increasingly tight labor market.
With employees citing better pay and benefits as a primary motivation for changing jobs2, stock plan benefits can offer a competitive advantage for companies looking to stand out. To help employers understand how to better leverage equity to engage their workforce, Morgan Stanley at Work conducted a twenty question study among 40,000 domestic stock plan participants.
Here's some of what we heard.
- Workplace benefits are an important consideration when determining whether to accept – or stay at – a job
- Most stock plan respondents (75%) feel confident in their ability to access their stock plan account, but only half (52%) understand how to sell their stock plan shares
- Fewer still (34%) report understanding how to estimate the potential tax impact of their stock plan benefits
- Morgan Stanley’s recent State of the Workplace Financial Benefits Report found that 4 in 5 employees believe their companies should play a role in helping them to maximize the financial potential of their stock plan benefits
Respondents are eager to learn about their stock plan and are actively looking for information – online via their stock plan platform or company intranet, as well as through periodic emails and one-on-one consultations with Financial Advisors.