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2014 Overview of Employee Benefits in the US

OVERVIEW OF EMPLOYEE BENEFITS IN THE 0.S. Many internal and external issues have affected organizations-and their em- ployee benefits programs-in recent years. Legislative changes, escalating costs, slashed HR budgets and an uneven economy are some of the factors organiza- tions are dealing with today. This research has revealed organizations are continu- ing to make gradual changes and shifts to their benefits plans in the wake of these factors. HEALTH CARE C OVERAGE FOR EMPLOYEES AND THEIR DEPENDENTS: Figure 1 | Health Care Coverage for Employees and Their Dependents 81% 74% 74% 35% 31% 26% 21% 13% 13% 5% 5% 3% 3% 1% 1% Costs fully paid by organization Costs shared by organization and employee RETIREMENT SAVINGS AND PLANNING BENEFITS: Defined contribution retirement savings planA 92% Defined contribution plan catch-up contributionsB 76% Employer match for Defined contribution retirement plan 73% Defined contribution savings plan hardship withdrawals 71% Defined contribution plan loansc 64% Investment advice offered onlineD 59% Individual investment advice offered one-on-one 53% Retirement-preparation adviceE 43% Automatic enrollment into the defined contribution retirement plan 41% Investment advice offered in a group/classroom 41% Roth 401(k) savings plan 38% 40 | Offer the Benefit FINANCI AL AND COMPEN SATION BENEFITS: 100 90 87% 86% 80 70 62% 61% 59% 60 56% 55% 55% 50 47% 45% 43% 40 31% 30 20 10 Offer the Benefit LEAVE BENEFITS: 100 97% 90 87% 80 70 66% 60 52% 50 41% 38% 40 34% 30 24% 22% 21% 20% 20 8% 10 I Offer the Benefit EMPLOYEE PROGRAMS AND SERVICES: 80 72% 70 60 50% 50 40 30 28% 23% 23% 22% 20 17% 17% 16% 11% 10% 10 Offer the Benefit FREQUENCY OF R eviewinG BENEFIT S PROGRAMS: Figure 3| Frequency of Reviewing Benefits Programs 82% 12% 5% 1% Once a year/ annually More than once a Once every two Never year years Note: Respondents who answered "not sure" were excluded from this analysis. BAYPO INT Source: Full-time employees Free coffee Paid holidays On-site parking Vending machine snacks and beverages Paid bereavement leave Company-paid group life insurance Part-time employees Free/discounted uniforms Paid jury duty above what is required by law Service anniversary award Paid time off plan Undergraduate educational assistance Legal assistance/services Same-sex domestic partners On-site cafeteria Paid vacation plan Graduate educational assistance On-site ATMS Floating holidays Business cell phone or smart phone for personal use Opposite-sex domestic partners Paycards Paid sick leave plan Incentive bonus plan (executive) Dependent children Postal services for employees Paid military leave Life insurance for dependents Paid personal day(s) Employee referral bonus Organizations-sponsored sports teams Dependent grandchildren Travel planning services Paid family leave Incentive bonus plan (nonexecutive) Nondependent children Paid time off for volunteering Automobile allowances for business use of personal vehicle Dry cleaning services Pet health insurance Paid day off for employee's birthday Full flexible benefits plan Foster children

2014 Overview of Employee Benefits in the US

shared by jessief on Jul 30
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The infographic sheds some light on the changing attitudes towards employee benefits amongst US businesses, in addition to reflecting changing views on cultural norms.


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