Posted by: Bill von Achen | September 3, 2010

Results of Our 2010 Employee Benefits Survey

A few weeks ago, we wrote about how some companies are using their employee benefits packages as a key tactic in their efforts to attract and keep good employees.  That got us to wonder how employee benefits offerings have changed over the past couple of years, in the wake of one of most severe economic contractions of our lifetimes.

Based on our just-completed employee benefits survey, the somewhat surprising answer seems to be “not much.”  Indeed, when compared with the results of our 2008 employee benefits survey (conducted in August 2008), there’s been virtually no change, at least in terms of the benefits being offered by employers.

As a comparison, here is a side-by-side listing of the 15 most popular employee benefits, as determined in our 2008 Employee Benefits Survey, and the 2010 Survey completed last week:

2008

  1. Healthcare insurance
  2. Paid holidays
  3. Paid vacation
  4. Family heath insurance
  5. Prescription drug coverage
  6. Direct deposit
  7. 401(k) plan
  8. Casual dress
  9. On-site parking
  10. Holiday parties
  11. Health insurance (HMO)
  12. Paid sick leave
  13. Paid bereavement leave
  14. Paid jury duty
  15. Dental insurance

 2010

  1. Direct deposit
  2. Healthcare insurance
  3. Paid vacation
  4. Paid holidays
  5. Paid sick leave
  6. 401(k) plan
  7. Family health insurance
  8. Prescription drug coverage
  9. Paid bereavement leave
  10. Dental insurance
  11. Paid personal days
  12. Paid jury duty
  13. Health insurance (HMO)
  14. Casual dress
  15. On-site parking

(Can you find the employee benefit that was on the list in 2008, but which didn’t make the 2010 list?  Hint—it’s “holiday parties!”)

What our survey results don’t reveal, of course, are changes in the scope of the individual employee benefits being offered, or how the cost of the benefits are being covered.  For example, in the area of healthcare insurance, we know from prior surveys that annual deductibles and office visit co-pays are continuing to increase, as companies look for ways to minimize their overall insurance premium increases. 

And, while 100% of our respondents indicated that their companies offer heath insurance for spouses and families, employers are continuing to increase the percentage of the premiums for such coverage paid for by employees themselves.     

So while the list of the most popular employee benefits being offered by companies today hasn’t changed much from two years ago, we expect that business owners will continue to evaluate their overall employee benefits offerings, and to carefully balance the needs and wants of employees against the financial realities of rising costs and an uncertain economic future.

If you’d like to receive a complete copy of the results of our 2010 Employee Benefits Survey, drop us a note at bill@smr-web.com.  In the meantime, we’re interested in hearing how your company achieves that balance.  Post your comments and ideas at www.bestpracticesforbusiness.com .  Thanks!


Responses

  1. It’s interesting to notice many benefits my company offers were not included in the list. I should be really thankful for the tuition assistance and professional trainings (such as six-sigma and PMP classes, for example) I have got. Other valuable benefits include on-site fitness certers, discounts (from many local businesses), life insurance, adoption assistance, group legal plan, etc.


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