Yesterday’s Advisor offered healthcare results from the Society for Human Resource Management’s (SHRM) 2014 Benefits Survey; today, the survey’s results for other types of benefits.
 |
The survey, sent to a random sample of SHRM members, had 510 respondents, which was a 13% response rate.
The table below indicates the prevalence of various other benefits.
|
Other Types of Benefits |
Percent |
Planning |
|
On-site parking |
90% |
0% |
|
Company-paid group life insuranceA |
83% |
0% |
|
Dependent care flexible spending account |
64% |
<1% |
|
Service anniversary awardB |
59% |
2% |
|
Undergraduate educational assistance |
54% |
2% |
|
Life insurance for dependents |
54% |
<1% |
|
Graduate educational assistance |
50% |
1% |
|
Incentive bonus plan (executive) |
45% |
1% |
|
Phone subsidy for business use of personal cell/smart phone |
42% |
<1% |
|
Business cell/smart phone for personal use |
41% |
0% |
|
Employee referral bonus |
41% |
1% |
|
Spot bonus/awardC |
41% |
2% |
|
Incentive bonus plan (nonexecutive) |
40% |
1% |
|
Shift premiums |
35% |
<1% |
|
Employee discount on company services |
33% |
0% |
|
Donations for participation in charitable events |
33% |
1% |
|
Sign-on bonus (executive) |
28% |
<1% |
|
Automobile subsidy for business use of personal vehicles |
26% |
<1% |
|
Credit union |
26% |
0% |
|
Full flexible benefits planD |
24% |
1% |
|
Accident insuranceE |
24% |
0% |
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|
Accelerated death benefitsF |
21% |
<1% |
|
Company-owned car for employee use |
20% |
0% |
|
Matching employee charitable contributions |
20% |
1% |
|
Sign-on bonus (nonexecutive) |
20% |
<1% |
|
Financial advice offered onlineG |
19% |
2% |
|
Employee technological device (e.g., computers, tablets) purchase discounts (not a loan) |
19% |
0% |
|
Payroll advances |
18% |
0% |
|
Financial advice offered one-on- oneG |
17% |
1% |
|
Financial advice offered in group/classroomG |
14% |
2% |
|
Safety bonus/incentive |
13% |
2% |
|
Credit counseling serviceH |
13% |
1% |
|
Educational scholarships for members of employees’ families |
13% |
<1% |
|
Retention bonus (executive) |
13% |
<1% |
|
Loans to employees for emergency/disaster assistance |
12% |
0% |
|
Retention bonus (nonexecutive) |
12% |
<1% |
|
Employee stock purchase plan |
12% |
<1% |
|
Qualified transportation spending account |
10% |
<1% |
|
Transit subsidy |
10% |
<1% |
|
Restricted stock options |
10% |
1% |
|
Incentive stock options (ISOs) |
9% |
<1% |
|
Parking subsidy |
7% |
0% |
|
Nonqualified stock optionsI |
7% |
<1% |
|
Automobile insurance program |
6% |
0% |
|
Low-/no-interest loans to employees for nonemergency situations |
6% |
<1% |
|
529 PlanJ |
6% |
<1% |
|
Free computers for employees’ personal use |
5% |
0% |
|
Loans for employees to purchase personal computers |
5% |
<1% |
|
Carpooling subsidy |
3% |
0% |
|
Free or discounted home Internet service |
3% |
0% |
|
Stock appreciation rights (SARs) |
3% |
<1% |
|
Subsidized cost of elder care |
2% |
<1% |
|
Educational loans for members of employees’ families |
2% |
0% |
|
Free commuter shuttle |
2% |
0% |
|
Personal tax services |
1% |
<1% |
|
Divorce insurance |
<1% |
<1% |
|
Grooming subsidy/reimbursementK |
<1% |
0% |
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A Does not pertain to employee-paid supplemental insurance.
B Based on the number of years of employment.
C Unscheduled bonus/award for going above and beyond in some capacity.
D Ability to select from a variety of benefits.
E Separate from travel accident insurance.
F For terminal illnesses.
G Financial advice is defined as providing employees with information on how to manage their financial resources effectively for a lifetime of financial well-being.
H Credit, debt consolidation, housing counseling, etc.
I NQSOs or NSOs.
J Tax-advantaged savings plan designed to encourage saving for future college costs.
K For example, manicures, pedicures, haircuts.
Source: 2014 Employee Benefits: A Research Report by SHRM
Here, for more information on benefits are some results about other types of benefits from a recent BLR® survey:
You can access the entire SHRM 2014 Employee Benefits Survey at http://www.shrm.org/research/surveyfindings/articles/pages/2014-employee-benefits.aspx.
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