In terms of pricing pressure, 68% are most concerned about the price of employee benefits. Six months ago, 77% of CFOs surveyed cited this as their number one concern (see Employee Benefits Top Cost Concerns for CFOs).
Twenty-one percent of respondents reported they are reducing their 401(k) match; however, three-quarters (74%) said they are keeping their match the same, and 5% are increasing their match contributions. Twenty-nine percent reported they are reducing average cost per employee for health care benefits, while two-thirds said it is staying the same, and 6% are increasing it.
More than half of CFOs (53%) said they plan no salary changes in the next six months, while 32% plan to decrease and 15% plan to increase. There is little chance for an increase in bonuses, as 47% plan no change, 44% plan to reduce, and only 8% plan to increase, the announcement said.
The survey found only 12% of CFOs reported they are more worried about their organization’s ability to continue as a going concern compared to this time last year.