Benefits July 11, 2011

Employees Adjust to High Fuel Costs

July 11, 2011 (PLANSPONSOR.com) – Forty-one percent of employees say they are driving less or combining trips to lighten the burden of rising gas prices, according to a Tell It Now poll released from ComPsych Corporation.

Reported by

Rebecca Moore

Another 22% said they have cut household spending, and 13% have put off vacation time because of fuel costs. Eight percent said they carpool to work/take public transportation/telecommute when possible.

Sixteen percent said they have not changed habits.

“The continued climb of fuel costs has caused employees to rethink their commute as well as their household expenditures,” said Dr. Richard A. Chaifetz, Chairman and CEO of ComPsych, a provider of employee assistance programs, in a press release. “The financial calls we receive have shown a renewed interest in budgeting, as families and individuals struggle to offset the gas premium by saving in other areas.”