Employee Benefits Down in 2009
- Organizations continue to offer family-friendly benefits for same-sex and opposite-sex domestic partners. Overall, 16% of HR professionals reported that their company offers some form of domestic partner benefits beyond health care. Specifically, 14% offer family-friendly benefits to same-sex partners and 14% extend the same to opposite-sex partners. For health care, 37% of organizations offer the benefit to opposite-sex domestic partners and 36% offer it to same-sex domestic partners.
- Organizations recognize the critical importance of financial and compensation benefits. A financial literacy program benefit debuted on the 2009 survey with 12% of surveyed companies offering it. Also, more companies offered a defined contribution retirement plan benefit in 2009 (90%) than 2008 (84%). Notably, HR professionals reported fewer organizations offering the executive retention bonus benefit in 2009 (11%) than 2008 (17%).
- Overall, health care and welfare benefits declined slightly in 2009, though more companies are offering mental health coverage benefits in 2009 than 2008. Seventy-five percent of HR professionals said their organizations offered the benefit last year compared to 80% this year. Mental health coverage was the only benefit in this category to be offered by more organizations in 2009 than 2008.
- Among the 52 types of benefits offered under health care and welfare, eight declined in 2009: (1) contraceptive coverage; (2) HMO; (3) life insurance for dependents; (4) long-term care insurance; (5) retiree health care coverage; (6) supplemental accident insurance; (7) surcharges for spousal health care coverage; and (8) wholesale generic drug program for injectable drugs.