via Wall Street Journal
Wage growth is weak, but employers are using benefits packages to improve compensation and keep workers from jumping ship.
As the labor market improves and companies get more aggressive about retaining workers, employers are offering a wider range of benefits and perks, according to new research.
But the generosity has its limits. Firms are grappling with the effects of federal health-care reform, and while they are largely still offering health insurance, they are shifting more of the costs to employees.
Some 35% of employers increased their benefits offerings overall for 2015, compared with 28% increasing benefits last year, according to the survey of more than 450 employers of all sizes by the Society for Human Resource Management, or SHRM. Only 7% of firms decreased their benefits packages from last year, compared with the 9% that cut benefits a year earlier.
Employers offer hundreds of different types of benefits for their workers, ranging from health insurance and gym subsidies to corporate cafeterias..