US employers boost health and wellbeing benefits – SHRM

Almost a third of US employers increased the overall benefit offer in the 12 months to February 2017, with health and wellness benefits being the most likely ones to experience growth, according to a survey by the US-based Society for Human Resource Management (SHRM). Benefits least likely to have been boosted include those associated with business travel, housing and relocation and family-friendly policies.

• The most commonly cited reason for boosting benefits was to remain competitive in the talent marketplace. Very few organisations decreased the range of benefits on offer, although large organisations were three times more likely than middle-sized ones to have cut benefits.
• The most common reason for cutting benefits was to remain financially stable, although others had trimmed the offer as a result of organisational restructuring, for example, merger or acquisition.

Shonna Waters, vice president of research for SHRM, said:

‘Recruiting difficulty has continued to increase over the last five years, and competition for talent is high. Most companies are now using benefits as a strategic tool for recruiting and retaining talent in this competitive environment.’

‘2017 Employee Benefits’, SHRM, June 2017 [PDF]: www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/Documents/2017 Employee Benefits Report.pdf