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August 2, 2011

Bye Bye Benefits!!

Filed under: Benefits,General HR Buzz,Work/Life Balance3:08 pm

You may have already noticed…employers everywhere are cutting benefits and perks from their overall benefit package.  Some of these benefits may have disappeared without much attention or proved to be unsuccessful, while others have been noticeably absent and missed by employees.

Based on a survey completed by the Society for Human Resource Management (SHRM) of 600 human resource professionals, following is a list of the workplace perks that have significantly declined since 2007:

  • Traditional pension plans
  • Retiree health care coverage
  • Long-term care insurance
  • Health maintenance organizations (HMOs)
  • Paid family leave
  • Adoption assistance
  • Professional development opportunities
  • Life insurance for dependents
  • Incentive bonus plans
  • Contraceptive coverage
  • Casual dress day
  • Legal assistance
  • Sports team sponsorship
  • Executive club memberships
  • Relocation benefits
  • Help purchasing a home
  • Travel perks
  • The company picnic
  • Service awards
  • Company-purchased tickets
  • Take your child to work day

Hopefully we will see the return of some of these benefits and perks in the future, or perhaps a new slate of benefits that meets the needs and wants of the changing employee population, such as telecommuting and flexibility.   And if your company is one that still offers a rich benefit package, tell them “thank you” and count your blessings.




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