In an effort to remain competitive when recruiting, nearly one-third of organizations increased their overall benefits in the last 12 months, according to the Society for Human Resource Management's (SHRM's) 2017 Employee Benefits survey report.
"Recruiting difficulty has continued to increase over the last five years, and competition for talent is high," said Shonna Waters, vice president of research for SHRM. "Most companies are now using benefits as a strategic tool for recruiting and retaining talent in this competitive environment."
Increases in benefits packages occurred most often in wellness (24 percent) and health (22 percent) offerings.
- More than half of survey respondents (59 percent) indicated that they offer employees the opportunity to participate in a general wellness program. A quarter of organizations offer an onsite fitness center, while another twenty-five percent of organizations offer offsite fitness center membership subsidies. The provision of standing desks has increased substantially over the past five years, growing from 13 percent in 2013 to 44 percent in 2017.
- Survey respondents indicated that offering health care to employee spouses and domestic partners is one way that they are strategically using health care benefits in recruiting. Additionally, about one-third of companies (34 percent) are offering health care coverage to part-time employees, up from 27 percent in 2014.
Employers are also more willing to offer flexible work arrangements to job candidates and current employees. Slightly more than three out of five organizations (62 percent) allowed some type of telecommuting, and 57 percent offered flextime, allowing employees to choose their work hours within limits established by the employer. Some employers are offering employees the opportunity to work a four-day workweek of 32 hours or less (13 percent).
SHRM's 2017 Employee Benefits survey report provides the most comprehensive look at benefits offered by U.S. employers with more than 300 benefits examined. Members with interest in Hawaii-specific benefits information may contact HEC's Research and Compensation Services team for more information.
Source: SHRM