HR Tip: Trends in perks
The Society for Human Resource Management (SHRM) conducts an annual survey on employee benefits. This year's survey included trends from 2013 to 2017:
Trending upwards:
- Free coffee
- Meal reimbursement for business travel
- Health savings accounts (HSAs)
- Financial advice
- Meal flex (allowing employees to make up time for longer meal breaks or leave early due to shorter meal breaks)
- Standing desks
- Onsite lactation/mother's room
- Employer contribution to HSAs
- Sign-on bonus (executive positions)
- 401(k) fund conversion into Roth 401(k)
- Accelerated death benefit for terminal illness
- Wholesale generic drug program for injectable drugs
- Sign-on bonus (non executive positions)
- Shift flexibility (allowing employees to coordinate with co-workers to adjust their schedules)
Benefits on the decline
- Medical flexible spending accounts (FSAs)
- Defined contribution plan hardship withdrawals
- Service anniversary awards
- Undergraduate educational assistance
- Graduate educational assistance
- Defined contribution plan loans
- Reimbursement for personal calls on business travel
- Shift premiums
- Compressed workweek
- Automobile subsidy for business use of personal vehicle
- Long-term care insurance
- Credit union membership
- Onsite cafeteria subsidized by employer
- Paid travel expenses for spouse