While the economy is showing some signs of rebounding from the recession, benefits plans haven’t been so lucky.
More than three-quarters (77%) of HR pros surveyed recently said the economy has negatively affected benefits to some or a large extent in 2011.
The survey was conducted among 600 randomly selected HR pros by the Society for Human Resource Management (SHRM). The results were released at SHRM’s 63rd Annual Conference and Expo in Las Vegas.
In 2010, SHRM conducted the same survey. At that time, 72% said the economy had negatively impacted their benefits plans. So things don’t appear to be getting any better.
Benefits getting more flexible
To keep morale high in the face of benefits cuts, HR pros are upping the ante on flextime benefits. Two reasons why:
- Cost — they’re inexpensive.
- Impact — workers love them.
What are employers doing now:
- 53% said their organizations now provide flextime, up from 49% in 2010, and
- 20% offer telecommuting on a full-time basis, up from 17% last year.