Company Benefits Get More Generous

via Wall Street Journal

Many employers are adding more benefits and perks for workers.

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..

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About thebenefitblog

Eric is a Producer at Lockton Insurance Brokers, Inc., the world’s largest privately held commercial broker. Eric has over 23 years of experience in the insurance industry and has spent the last 11 years with Lockton. Eric specializes in Health & Welfare Benefits, Retirement Planning, and Executive Benefits. Eric's clients utilize his expertise in the areas of Plan Due Diligence, Transaction Structure, Fiduciary Oversight, Investment Design, Compliance and Vendor negotiation to improve the operational & financial outcome for each client. The Benefit Blog is a place to share that expertise and industry news.
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