Benefits are back

Discussion in 'Current Events' started by wdlove, Jul 8, 2004.

  1. wdlove macrumors P6


    Oct 20, 2002
    But forget lavish extras: The focus is now lifestyle

    By Diane E. Lewis, Globe Staff *|* July 8, 2004

    The economy is coming back and so are the perks.

    But forget the fancy cars and foosball tables that dominated the dot-com era. Instead, specialists are predicting that companies eager to recruit and retain workers will offer a slew of lifestyle benefits as the economy recharges. The new perks range from pet insurance and home-buyer assistance programs to ''quiet" rooms to alleviate stress and onsite chiropractors to help workers ease aches and pains.

    Many of these new benefits are designed to promote worker well-being at a time when US employers are struggling to contain healthcare costs. Specialists say perceptive employers are looking to create ''psychologically healthy" workplaces where stress is kept to a minimum, teamwork is encouraged, and flexibility is the norm.

    ''The goal, of course, is to keep costs down," said Richard Federico, vice president of work life and communications at The Segal Co., a New York-based human resources consultant. ''With all the concerns about healthcare costs, the other thrust is getting people to pay more attention to keeping themselves well and providing meaningful programs that will do that."

    This year, the Society for Human Resource Management listed 217 offerings in its annual benefits survey, about 21 more than in 2003. The newcomers include low or no-interest loans, personal tax services, child-care expenses for parents on business travel, pet-care arrangements for traveling workers, and drop-off photo developing services.
  2. rainman::|:| macrumors 603


    Feb 2, 2002
    i work for a voluntary benefits provider, the industry leader (can't say who). things have really slipped over the past couple of years, but i'm definitely seeing an increase in pet insurance... something that people used to laugh at me for having personally, but is well worth it. We did away with concierge services, however, and i have not seen that come back-- that's definitely our top-of-the-line, holy grail of benefits. But overall, i'd say companies are continuing to cut benefits, not increase them-- along with outsourcing jobs to India, companies are quickly realizing that cutting benefits can save a lot of money, in their lower-levels. Just because the economy is recovering doesn't mean the belt will get any looser-- it has to become an employees' market first, which is still a couple of years off.


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