2011 SHRM Employee Benefits Report
07/28/2011
Have you read the annual 2011 National SHRM Employee Benefits Survey? The full survey is available for free to SHRM members on the website. If you are not a SHRM member, you might consider joining for their excellent resources. Every year, we comb through the findings to read about trends and new ideas in the marketplace. Our own Bridget Scott compiled a list of her highlights:
· Organizations spend 19% of an employee’s annual salary on benefits. This includes health, welfare, and retirement plans.
· HSAs are becoming increasingly popular - and our clients agree! More than half of our clients have at least one HSA option, and more and more are going "full replacement."
· Premium discounts for wellness components are popular. This usually includes an annual health risk assessment, weight loss program completion, or tobacco use status.
· Communication to employees is critical. We echo this sentiment - even when companies reduce their benefits, if they have a good communication plan, it can go well.
· Employers are still creating wellness programs. Even in a recession, 5-8% of respondents plan to roll a new program out in the next 12 months.
· Family friendly benefits are the "next big thing." Skip to page 39 for additional detail about these offerings, some of which are at no or very low cost to the employer.
· Two percent of companies polled offer concierge services. FirstPerson is part of that number! Our employees have access to lunch delivery options, onsite auto care, a library of greeting cards for purchase, stamps.... and we deduct the cost of these offerings from employee paychecks so that it's easy for our employees. Our costs are very minimal and we're happy to tell you how it works for us.
So - what does this mean for you? Use the SHRM report to benchmark your company against others. You can also use some of the ideas in your long-range planning. Knowledge is power!
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