Employers continue to place a lot of value in the employee benefits they offer their workforce, according to the Society for Human Resource Management (SHRM) 2019 Employee Benefits Survey. SHRM conducts the survey annually to gather information on the types of benefits employers are offering their employees and to report on trends.
SHRM conducted the survey in April 2019 and asked participants whether they had increased, decreased or sustained benefits offerings over the last year in the following major categories:
- Retirement; and
- Other benefits.
The SHRM survey report also discussed potential reasons behind some of the trends shaping the current benefits landscape, citing:
- Health insurance costs;
- Competition for talent; and
- The multi-generational workforce.
Increase in Benefits Offerings
The survey revealed that employers were more likely to increase, rather than, decrease, their benefits offerings. In fact, no more than 3% of organizations reported benefits decreases in any category. The biggest increases (20%) to benefits were in the health and wellness benefits categories.
The SHRM survey report also noted increases in the following areas:
- Student loan repayment (4% increase);
- Standing desks (7% increase); and
- Part-time telecommuting (5% increase).
A majority of surveyed organizations (70%) reported that they maintained their health care benefits at existing levels this year. Although 85% of employers said they offer Preferred Provider Organization (PPO) insurance plans, 59% said they have at least one High Deductible Health Plan (HDHP) option. Additionally: