Firms Boosting "Balance" Benefits

August 15, 2006 (PLANSPONSOR.com) - A new nationwide survey of hiring managers, recruiters and HR professionals claims that companies are expanding and enhancing their benefits offerings.

Indeed, the survey by JobKite.com, a so-called “next-generation” job site, claims that more than half of companies surveyed report they have increased their employee benefits within the last six months – and that companies now are focusing on providing benefits that support work/life balance.

The survey of some 3,500 HR/Recruiters/Hiring Managers nationwide from both private and public companies of all sizes and industries, drew just 263 responses – but 56% of those claimed to have made enhancements to the employee benefits they are offering for retention or recruiting purposes. Among those firms that had done so:

  • 88% added health-related benefits, including life, vision, and better or increased health plans
  • 69% have increased stock vesting, 401k funds, salary relative to market averages, sign-on bonuses, quarterly bonus plans and/or relocation packages
  • 41% reported that they are increasing the number of paid days off per year
  • 36% say they are adding or enhancing flextime and/or telecommuting
  • 8% said that they plan to offer other miscellaneous benefits, including massages, monthly cookouts and gym memberships.

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