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Region's firms think benefits effective but costly, NEHRA survey says
By NEHRA, 2/13/2006
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According to a sampling of the Northeast Human Resources Association's (NEHRA) 4,000 members, most companies offer effective benefits packages but worry about the high cost of providing them. NEHRA recently conducted an e-survey of its members to determine employee benefits trends in local organizations.
The majority (87 percent) of those surveyed say they think their company's current benefits packages help recruit and retain the workforce it needs. Three quarters (75 percent) of respondents cite the cost of providing benefits as the most critical benefit issue at this time.
"It's no surprise that the cost of providing benefits is a major concern today," says Marie Chalmers, Relationship Manager, Aon Consulting and Co-Chair of the Northeast Human Resources Association Benefits Special Interest Group. "Although the majority of companies [80 percent] presently do not offer a consumer-driven healthcare plan, employers are looking more aggressively toward these plans as a way to control costs. Savings and high participation will result when a solid strategy, championed by senior management, good plan design and effective employee education tools are in place," said Chalmers.
Consumer-driven health care plans achieve cost savings by educating users for preventive purposes and rewarding them, financially and otherwise, for desired behaviors.
Eighty percent of those surveyed do not offer retiree health coverage. Nearly seventy percent (67 percent) say they are prepared for the Medicare D compliance. Fifty-seven percent of companies are offering flu shots to employees this year.
More than half (60 percent) say the majority of those taking maternity leave (80+ percent) return to work. Sixty-five percent of respondents indicated that in their companies paternity and adoption leaves are also offered. And seventy-one percent of organizations extend coverage for domestic partner and same sex marriage benefits. More than half (58 percent) of the organizations polled offer voluntary work/life benefits.
NEHRA members are comprised of HR professionals representing large and small companies in all industries within the northeast. The employee benefits survey was conducted online from December 6-19, 2005 and had 295 responding employers.
To read the full survey and detailed results, visit NEHRA.com.
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