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Health savings accounts, 401(k) conversions and financial advice are rising. Compressed workweek options, undergraduate educational assistance and subsidized employee cafeterias are falling.
Those are among the conclusions of the Society for Human Resource Management’s 2017 employee benefits survey. Released this summer, the study looks at more than 300 employee benefits, tracking trends over the last five years.
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The survey found one-third of organizations had increased their benefits offerings in the past 12 months, with wellness and health benefits the most likely new offerings. Only 6 percent of organizations had decreased benefits, although large organizations were twice as likely to have done so.
“Recruiting difficulty has continued to increase over the last five years, and competition for talent is high,” Shonna Waters, vice president of research for the group, said in a statement. “Most companies are now using benefits as a strategic tool for recruiting and retaining talent in this competitive environment.”
Among other benefits on the rise in the survey: Sign-on bonuses for executives, ad hoc telecommuting and employer HSA contributions. On the down side: Shift premiums, service anniversary awards and credit union memberships.
For more on the survey, visit the SHRM website.
