U.S. News and World Report* featured five pay and benefits trends to watch for in the near future:
- Wellness programs – 80% of surveyed employers offer some kind of health or fitness program, and financial incentives to be healthier – 11% offered on-site massage therapy!
- Financial advising – providing resources to help employees invest wisely – inviting spouses to participate in financial seminars, offering customized programs to specific groups (e.g. employees nearing retirement).
- High-deductible health plans – lower costs for the employer by offering higher deductible plans (average deductibles before care is covered by insurance have nearly doubled from $584 to $1318 in 10 years), or by including surcharges for a spouse who may have access to his or her own insurance via work.
- Retirement account fees – new regulations mean that administrative fees on retirement accounts are more visible to employees; luckily, fees are lower than in the past and for work-based accounts now tend to be a flat fee instead of a percentage of your retirement balance.
- Automation – integrating and further automating HR systems – the strategy is to move as much as possible under one umbrella. provide references
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