Navigation Links
Despite Economic Downturn, Employee Benefits Remain Stable in 2008
Date:6/22/2008

Slight decrease in health care and compensation benefits

CHICAGO, June 22 /PRNewswire-USNewswire/ -- Despite recent challenges to the economy, employers are managing to maintain a balance in employee benefits, according to the 2008 Employee Benefits Survey released today by the Society for Human Resource Management (SHRM) at its 60th Annual Conference.

"Rising health care costs, combined with the state of the economy, are causing more employers to adjust health care and financial benefits," said Susan R. Meisinger, SPHR, president and CEO of SHRM. "But in return, employers are offering other valuable but less costly benefits, such as telecommuting, cross-training for non-job-related skills development, and allowing employees to bring their children to the office in emergencies."

Benefits that declined in 2008, such as health screening programs; stock options; paid family, adoption, paternity leave; and legal assistance, were balanced by benefits that have increased in popularity this year. They include allowing personal use of company-provided cell phones and communication devices; on-site vaccinations; fitness center membership reimbursement or subsidy; and Roth 401(k) savings plans.

The Employee Benefits Survey, published annually by SHRM since 1996, gathers information on the types of benefits that employers are offering in 10 benefits categories. This year's survey, which documents 257 different benefits, reflects responses by 996 randomly selected members of SHRM.

Key findings in this year's survey are below:

-- As the modern definition of family changes, organizations are adjusting their benefits: 36 percent offer health care coverage for both same-sex partners and for dependent grandchildren. In addition, 30 percent offer health care benefits for foster children, and 15 percent give paid adoption leave.

-- Organizations recognize the importance of work/life balance. For instance, 62 percent pay for long-distance calls home during business travel; 37 percent offer a compressed work week; 24 percent offer such benefits as postal services, legal assistance, and food services or a subsidized cafeteria; and 5 percent offer concierge service.

-- Organizations are helping employees improve their health. For example, 72 percent offer wellness resources and information; 40 percent offer smoking cessation programs; 31 percent offer weight-loss programs; and 21 percent offer bariatric procedure coverage.

Human resource professionals report that benefits costs to employers average 39 percent of payroll. Of those costs, 21 percent are attributed to mandatory benefits, and 18 percent to employee-selected benefits.

Colonial Life is the exclusive sponsor of the Society for Human Resource Management's 2008 Employee Benefits Survey.

For more information please visit: http://www.shrm.org/surveys.

About the Society for Human Resource Management

The Society for Human Resource Management (SHRM) is the world's largest association devoted to human resource management. The Society serves the needs of HR professionals and advances the interests of the HR profession. Founded in 1948, SHRM has more than 245,000 members in over 130 countries, and more than 575 affiliated chapters. Visit http://www.shrm.org.


'/>"/>
SOURCE Society for Human Resource Management
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Cosmetic Procedures Still Booming Despite Economy Concerns
2. Prevalence of US osteoprotic hip fracture hospitalizations declines despite an aging population
3. Despite vaccine, public should not get complacent about pneumococcal disease
4. Louisiana May Mandate Fluoridation Despite Evidence of Harm
5. California Green and Organic Purchasing Strong Despite Rising Prices Says Mambo Sprouts Survey
6. Study finds parents use cough medicines on under-2s despite the warnings
7. Despite Americans High Regard, Nursing Shortage Still Looms
8. Blacks not receiving chemotherapy for rectal cancer, despite seeing cancer specialists
9. Undeterred Despite the Obstacles: American Refugee Committee Responds to Tragedy in Myanmar
10. Kidney disease worsens in a fourth of African-Americans despite therapy for hypertension
11. Breast Cancer Unchanged in Black Women, Despite Drop in HRT Use
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... (PRWEB) , ... December 08, ... ... Presence Suite 10.2 version gives development continuity to its innovative Unified Instance ... channels management capacity. In addition, this new version optimizes the unattended auto-dialing ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... as possible. With this in mind, SIGVARIS has created a new line of ... during bed rest and provide the benefits of graduated compression when transitioning from ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... from offices headquartered in Jefferson County, is announcing the launch of a charity ... , The number of homeless women and children in Birmingham has grown steadily ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... families and business owners in and around central Kansas, is joining the Youth ... youth in the region. , Headquartered in Wichita, Youth Horizons works to empower ...
(Date:12/7/2016)... ... December 07, 2016 , ... Children exposed to ... researcher at the Icahn School of Medicine at Mount Sinai has found. The ... when young children are exposed to secondhand marijuana smoke, measurable amounts of primary ...
Breaking Medicine News(10 mins):
(Date:12/8/2016)... , Dec 8, 2016 Research and Markets ... report to their offering. ... The global chromatography market to grow ... Global Chromatography Market 2016-2020, has been prepared based on an in-depth market ... and its growth prospects over the coming years. The report also includes ...
(Date:12/8/2016)... 8, 2016 According to ... by Product (Actual Sugars, Sugar Alcohols, Artificial Sweeteners), ... Tonicity Agents), Formulation (Oral, Topical, Parenteral) - Global ... has witnessed healthy growth during the last decade, ... of 4.3% between 2016 and 2021 to reach ...
(Date:12/8/2016)... 8, 2016  Agenovir Corporation, a company using ... therapeutics, today announced that it appointed Dirk ... a member of the board of directors. ... a deep background in both founding and building ... Agenovir, co-president of Chan Zuckerberg  Biohub and ...
Breaking Medicine Technology: