Do you offer this rare, but popular benefit?
November 4, 2009 by Christian SchappelPosted in: In this week's e-newsletter - benefits, Latest News & Views, Pay and benefits
In these times of furloughs and pay cuts, the company’s benefits roster is an easy target for cost-cutting. But some organizations are going the extra mile to retain quality workers.
One retention tool: pet health insurance.
Surprising, we know. But the number of companies offering pet insurance as a voluntary benefit has doubled since 2004, according to the Society of Human Resources Management’s Employee Benefits Survey.
Reason: Most pet owners think of their pet as a family member, and employers want to show they care about employees’ entire families.
In total, 7% of all the HR managers surveyed said they offer pet insurance.
Of the companies that said they offer pet coverage:
- 5% are small (1-99 employees)
- 4% are medium-sized (100-499 employees), and
- 10% are large (500+ employees).
Tags: Employee Benefits Survey, pet health insurance, Society of Human Resources Management
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November 12th, 2009 at 3:50 pm
Are the deductions pre-tax? That would make me want to offer it.
December 1st, 2009 at 10:03 am
Shouldn’t the analysis of the companies that offer pet coverage add up to 100%? What else is there besides small, medium, and large – yet those percentages only add up to 19%?