More than three quarters of HR pros say their benefits offerings have been hurt by the slumping economy, found a recent study. Which benefits have taken the biggest hit?
The following list — based on a survey off 600 HR professionals by the Society for Human Resource Management (SHRM) — was recently published by U.S. News & World Report.
In alphabetical order, here are 21 benefits the SHRM survey found to be disappearing from U.S. workplaces since 2007:
- Adoption assistance
- Casual Dress Day
- Company picnics
- Contraceptive coverage
- Executive club memberships
- Health maintenance organizations (HMOs)
- Home ownership assistance (this includes mortgage assistance and down payment assistance)
- Incentive bonus plans (this includes executive bonuses)
- Legal assistance
- Life insurance for dependents
- Long-term care insurance
- Paid family leave
- Professional development opportunities
- Relocation benefits
- Retiree healthcare coverage
- Rewards for job tenure and performance
- Sports team sponsorship
- Take Your Child To Work Day
- Tickets to sporting events and theater performances
- Traditional pension plans
- Travel benefits
Info: For stats on how quickly each of these benefits is being phased out, check out the USN report, here.
