Each year, HR Hero and HRLaws survey readers about your organizations’ benefits packages. Although much has been said about the effects of health care reform on employer-based health insurance during the last year, the other benefits that organizations are offering their employees — flex time, telecommuting, child-care assistance, wellness programs, tuition reimbursement, and concierge services — are starting to make headlines. Because of this new focus, our February survey looked at benefits other than health insurance.
According to the survey, most of you offer health insurance (95.87%), dental insurance (90.55%), life insurance (90.94%), paid holidays (85.04%), and defined-contribution retirement plans (84.06%) to your employees. Additionally, many of you indicated that your organization offers nonwage benefits that are about the same as (46.94%) or more generous than (22.29%) your competitors.
The survey also revealed many other intriguing trends, including the following:
- Most of your benefits offerings (other than your health insurance package) are about the same as last year’s (80.31%).
- A majority of you aren’t planning to make changes to your benefits offerings (other than your health insurance package) in 2011 (57.2%).
- Most of you think your organization’s benefits costs (other than health care costs) will either stay pretty much the same in 2011 (33.86%) or will rise but the change won’t be very significant (38.98%).
- For organizations with a 401(k) or 403(b) employer match, many of you indicated that you haven’t stopped it in the last few years (48.12%).
- Several of you offer “atypical” benefits to your employees, such as on-site fitness centers (14.96%), flex-work arrangements (24.41%), financial planning assistance (13.78%), and legal assistance programs (13.39%).
- While many of you haven’t made changes to your benefits offerings, several of you reduced or cut some of them (e.g., 401(k) or 403(b) employer matches and/or contributions, tuition reimbursement, disability insurance, life insurance, and vacation/paid time off).
- Others have added or expanded certain benefits, including wellness programs, employee assistance programs, disability insurance, life insurance, employee recognition and rewards programs, vacation policies, and dental and vision benefits.
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