A recent survey conducted by the Society for Human Resource Management found that many employee benefit packages have suffered cuts due to the current economic downswing.
Of the 600 human resource professionals polled, 77 percent reported that a stagnant economy negatively influenced employee benefits in 2011. That ratio shows a depreciation of benefits since last year's report, which found that only 72 percent of respondents claimed the economy negatively impacted benefits.
SHRM also found that many businesses are placing more of the burden of benefit expenses on their staff. This shift was seen across the board and affected everything from health insurance plans to retirement benefits.
These more flexible employee benefit plans are gaining in popularity because they make it possible for companies to continue to offer competitive benefits packages without breaking the bank.
"The addition of workplace flexibility programs has been one of the primary tactics organizations are using to offset the benefit losses," Mark Schmit of SHRM explained. "These programs can have positive outcomes for both the employees and the organization."
