EMPLOYEE BENEFITS
US benefit packages reflect demographic changes
Corporate America is offering more flexible benefits and is developing packages geared towards the needs of ageing workers, according to the Society for Human Resource Management (SHRM), which has assembled some telling data on the take-up of benefits in the USA.
An ageing and busy society
The 754-company survey by the world's largest human resource management association suggests that a number of benefits have become more prevalent in the past five years, most notably:
domestic partner benefits
flexible scheduling
paid time off plans
flexible spending accounts
retirement and financial planning.
Reflective of our ageing and increasingly busy society, employers are offering more flexible benefits and benefit geared toward ageing workers, said SHRM President and CEO, Helen Drinan.
The fact that this survey has doubled in size since it was first conducted is indicative of how complex and important employee benefits are today.
Benefit provision in US organisations
|
| Per cent of respondents |
| Work options that help employees balance their work and personal lives |
|
| Telecommuting | 37% |
| Compressed workweek | 31% |
| Job sharing | 25% |
| Benefits designed to address child care issues |
|
| Bring child to work in an emergency | 24% |
| Child care referral service | 20% |
| Adoption assistance | 16% |
| On-site child care centre | 5% |
| Benefits to help employees prepare for retirement |
|
| Financial planning benefits | 28% |
| Retirement planning | 43% |
| Long-term care insurance | 46% |
| Benefits reflecting shifting demographics and growth of non-traditional families |
|
| Domestic partner benefits (opposite sex partners) | 25% |
| Domestic partner benefits (same sex partners) | 16% |
Source: 2001 Benefits Survey, by the Society for Human Resource Management.
What you'll find in the SHRM survey
The report offers some fascinating detail on the startling array of benefits on offer in US businesses. It examines the incidence of no fewer than 160 benefits, divided into eight sections:
family-friendly
housing
health care
personal services
financial
business travel
leave
unusual perks.
Survey details
Title: 2001 Benefits Survey, by the Society for Human Resource Management.
Methodology: Survey questionnaires mailed to 2,610 randomly-selected SHRM members, with a 29% response rate.
Survey sample: The 42-page survey is based on information supplied by 754 human resource professionals. The average workforce size was 1,600.
Business sectors: Participants are drawn from a broad range of sectors from across the US, with a particularly large response from manufacturing (23%), followed by finance/insurance and real estate (10%), business/professional services (10%) and high tech/computer (10%).
Availability: Call the Society for Human Resource Management in Virginia, USA, tel: 001 703 548 3440.
Want to know more? Visit SHRM online at www.shrm.org