Employers provide various other job related benefits. Some provide subsidized employee transportation. Google’s website lists benefits such as adoption assistance the Google Child care Center, free shuttle service from San Francisco onsite dry cleaning backup, childcare assistance and on site physician and dental care at this Mountain view and Seattle facilities. Food services are provided in some form by many employers they let employees purchase meals, snacks or coffee usually at relatively low prices.
Educational subsidies such as tuition refunds are popular benefits for employees seeking to continue their educations. Payments range form all tuition and expenses to some percentage of expenses to a flat fee of several hundred dollars per year. One survey found that about 72% of the 579 company’s surveyed pay for college courses related to an employee’s present job. Many employers also reimburse non job related course (such as Web designer taking an accounting class) that pertain to the company business. Some employers pay for self improvement classes, such as foreign language study, even though they are unrelated to company business or the employee’s job. (Although there seems to be a trend toward reducing such benefits) Many employers provide college programs, taught on the employer’s premises. Other in-house educational programs include remedial work in basic literacy and training for improved supervisory skills.
College tuition subsidies may help employers attract recruits, retain some employees and provide promotable employees with the educations they need to move up. However, that same enhanced mobility makes it easier for employees to leave. Two researchers studied employer sponsored part time college education reimbursements impacted job mobility. They focused on the US Navy’s tuition assistance program. Tuition assistance usage significantly decreased the probability of staying in the Navy.
The New Workforce feature describes another personal / family benefit.
When you reach the pinnacle of the organizational pyramid – or at least get close to the top – you will find, waiting for you, the Executive Perk. Prerequisites (perks, for short) usually only go to top executives. Perks can range from substantial (company planes) to relatively insignificant (private bathrooms).
Many popular perks fall between these extremes. These include management loans (which typically enable senior officers to exercise their stock options). Salary guarantees (also known as golden parachutes) to protect executives of their firms become targets of acquisitions or mergers and financial counseling (to handle top executives’ investment programs). And relocation benefits, often including subsidized mortgages, purchase of the executive’s current house and payment for the actual move. A selection of other executive perks includes time off with pay (including sabbaticals and severance pay) outplacement assistance, company cars, chauffeured limousines, security systems, company planes and yachts, executive dining rooms, physical fitness programs, legal services tax assistance liberal expenses accounts club memberships season tickets, company credit cards and children’s educational subsidies. As you can see, employers have many ways of making their hardworking executives lives as pleasant as possible.
Flexible benefits programs
When given the opportunity employees prefer choice in their benefits plans, In one survey of working couples, 83% took advantage flexible hours, 69% took advantage of the sorts of flexible style benefits options packages we’ll discuss next; and 75% said that flexible style benefits plans are the sorts of plans they would like to see their companies offer. About 70% of employers in one survey chose flexible health care options. The online job listing service jobtrak.com asked college students and recent graduates. Which benefit do you desire most? Thirty five percent sought flexible hours; 19% stock options; 13% more vacation time; 12% a better health plan and 9% wanted a signing bonus. Most of the preferred benefits had to do with lifestyle issues rather than financial ones. At the same time employers tend to misjudge employees’ preferences for various benefits.
In any case it’s apparent that employers must provide opportunities for choice when designing benefits plans.