Many employers are ramping up the benefits they offer their employees, but not all benefits are on the rise. According to SHRM’s annual survey, 15 benefits aren’t as prevalent as they used to be.
Thanks to a tightened job market, a number of employers are ramping up benefits in an effort to recruit and retain talent. A number of big companies, including Discover, Walmart, Taco Bell and Kroger, have announced new and enhanced benefits for employees just this year. In fact, according to research from the Society of Human Resource Management, between 2017 and 2018, the prevalence of more than 60 benefits assessed increased compared with just 20 between 2016 and 2017.
However, not every employee benefit out there has been there on the rise. A number of offerings have declined in prevalence over the last few years — especially for employers looking to better manage benefit costs. Here are 15 benefits that are not as hot as they once were, according to SHRM’s annual survey.
Preventative programs
Flexible spending accounts
Domestic partner benefits
Childcare and eldercare referral services
Onsite cafeterias
Defined contribution catch-up contributions
Short-term disability insurance
Incentive bonus plans
Sign on bonuses for executives
Bariatric coverage for weight loss
Onsite health screening programs
Employee discounts
Elective procedures coverage
Housing and relocation benefits
Health fairs
SOURCE:
Mayer, K. (24 July 2018) “15 employee benefits on the decline” [Web Blog Post]. Retrieved from https://www.benefitnews.com/slideshow/employee-benefits-on-the-decline?brief=00000152-14a5-d1cc-a5fa-7cff48fe0001