Health Bill Won't Prompt Job Loss for Most
Retailers
October 13, 2009 (PLANSPONSOR.com) - Some 71% of
chief financial officers (CFOs) at leading U.S. retailers do
not think they will reduce headcount as a reaction to health
care reform, according to a new poll.
The BDO Seidman LLP news release about the
accounting and consulting firm's survey said 80% of those
who do not eliminate positions will pass increased health
care costs on to employees. The remaining 20% do not
anticipate that employees will incur increased health
care costs.
"Managing health care costs is a significant
challenge for any business and the retail industry, which
is the second largest employer in the U.S., bears a large
brunt of the burden," said Catherine Fox-Simpson, a
partner in the Retail and Consumer Products Practice at
BDO Seidman LLP, in the news release. "How retailers
react to health care reform will be critical to its
success but at the end of the day retailers need
employees to run operations, and health care will be
considered just another cost of doing business."
The findings are from the most recent BDO Seidman
poll which examined the opinions of 100 chief financial
officers at leading U.S. retailers.
The retailers in the study were among the largest
in the country, with revenues ranging from $100 million
to $100 billion, including 10% of the top 100 based on
annual sales revenue, according to the news release. The
survey was conducted in August and September 2009.
Fred Schneyer
editors@plansponsor.com