Employers are remodeling their benefits plans to give employees more power to manage their health care costs, retirement, financial security, and leave, according to a 2011 Employee Benefits Study from the Society for Human Resource Management.
Noteworthy findings, provided by SHRM in an executive summary included:
• Financial and compensation benefits have experienced considerable declines throughout the last five years. The most significant decreases were in educational assistance programs, incentive bonus plans for executives, life insurance for dependents and undergraduate educational assistance.
• Paid time off plans continue to gain in popularity, while the prevalence of paid vacation plans remains stagnant.