Benefits

Parents are likely to want their children to be successful as working adults. But what does it mean to be successful? For many it is that the child not only has a job, but one with benefits. And it is clear that the subject of this lesson is not lost on most employees. The following is a quote from an article published by the Society for Human Resource Management (SHRM®):

Nearly eight out of 10 employees in the U.S. said their benefits are one of the reasons they work where they do, and almost as many (76 percent) said that benefits make them feel appreciated by their company. Both of these results represent significant increases from the 2010 survey.

The data in the following table that appears immediately after the quote illustrate the increasing importance of benefits as part of employee compensation.

Perceived Value of Benefits: Percentage of employees that agree with these statements

	2011	2010	2008
Getting health benefits through work is just as important to me as getting a salary.	91%	90%	88%
My benefits are one of the reasons I work where I do.	79%	74%	73%
My benefits make me feel appreciated by my company.	76%	72%	67%
As health care costs rise, I would rather pay more out of pocket than have my health benefits reduced.	75%	67%	69%
My company should offer better benefits.	73%	69%	72%

Source: 2011 Mercer Workplace Survey.  http://www.shrm.org/hrdisciplines/benefits/articles/pages/valueofbenefits.aspx

The text provides a comprehensive overview of benefit options. The two primary categories around which the discussion occurs are “Benefits Required by Law” and “Optional Benefit Programs”. For purposes of this lesson’s group assignment, the issues surrounding the manner in which an employer actually selects employee benefits is particularly important.