From health insurance to stock options to paid vacation, employees love perks. They can help in efforts to recruit the best applicants as well as retaining and engaging your top performers. Recently, BLR surveyed 1,493 HR professionals about the types of perks they offer employees.
Paid holidays is the number one perk provided by the employers responding to our survey, with 91% percent offering it. Life insurance is provided by 85%, and paid vacation is a benefit offered by 72%. Profit sharing and stock options trail the field at 25% and 9%, respectively. 
Supplemental insurance
Voluntary supplemental insurance plans offered by employers include dental insurance, topping the list at 82% of employers, and life insurance coming in second at 71%. Vision insurance is provided by 69% of our survey participants and accident insurance is offered by 57%. Lump sum cancer and lump sum critical illness insurance are both offered by 12% and the least offered voluntary benefit is Medicare supplement by 7% of the employers responding to our survey.
Atypical benefits
Flextime is the most commonly offered (53%) atypical benefit offered by employers. Other atypical benefits being offered include: telecommuting (35%), financial planning assistance (30%), legal assistance programs (24%), on-site fitness centers (19%), and commuter benefits (19%). The least offered atypical benefits are on-site childcare (4%) and concierge services (4%).
When asked if their business competitors offered similar non-wage benefits, 37% did not know, 33% responded that they do, 22% responded that their own benefits are more generous than their competitors, and 8% indicated that their benefits are less generous.
Benefits planning
Conducting employee surveys to find out which benefits they like is how 26% of employers determine what non-wage benefits to offer employees and 43% evaluate the benefits offered by other companies as well as their competitors. Hiring a consultant to develop a benefit plan, however, is the norm for 23%.
Almost half (42%) of survey participants conducted a comprehensive evaluation of their benefits packages in 2012 and 19% have done so in 2013. A review of benefits was conducted in 2011 for 10% and in 2010 for 6%. It was prior to 2010, though, for 23%.
Other than for their health insurance package, no changes are planned in 2014 for 50% of survey participants. Minor changes are in store for 31% and moderate changes are planned for 15%. Significant changes are on deck, however, for 4% of employers in 2014.
Tuition reimbursement
Both exempt and nonexempt employees are eligible for tuition reimbursement for 64% of employers and part-time employees are eligible for 21%. For those that offer this benefit, less than a year of employment is required for employees to be eligible at 40% and at least one year is required for 49%. Courses must be job-related for 82% and the cost of books and supplies is reimbursable for 53%.
Graduate level courses are reimbursed by 76% of employers and the cost of professional certification courses is reimbursed by 79%. A passing grade is required by 91% and the grade is verified prior to reimbursement by 91%.
The maximum annual amount of tuition reimbursement is less than $1,000 for 19% of survey participants. It is up to $2,000 for 19% and as much as $3,000 for 15% or employers. The reimbursement level is above $3,000 for 17% and capped only by IRS deductibility for 22%. The grade earned is a factor in the amount of reimbursement for 11%.
Repayment of tuition reimbursement is never required by 38% of employers if the employee leaves the company. Repayment is required on a case-by-case basis for 15%. It’s required if the employee leaves the company within one year of course completion for 30% of survey participants and within two years for 16%.
No changes to their tuition assistance program are anticipated for 93% of employers, though 4% plan to reduce reimbursement benefits and 3% plan to increase them.
Dress codes
Personal appearance is relaxed and casual for 49% of employers responding to this question in our survey and very relaxed for 11%. Traditional business attire is required for 39% and it’s strictly suits for slightly less than 1%. Their dress code is relaxed during the summer months for 33% of survey participants but only for employees with no customer contact for 13%.
Dress-down days are offered by 51% but only for employees with no customer contact for 14%. Friday casual is the norm for 65% but only on or near holidays for 10%. Dress-down is a reward for performance or fundraising for 4%.
Survey participants
Organizations with up to 250 employees account for 64% of our survey participants and 21% have 251 to 1,000 employees. Another 12% employ 1,001 to 10,000 individuals and 3% of survey respondents work in organizations with more than 10,000 employees.
Of the participants responding to our survey, 40% have a workforce with 20% or less exempt employees. Another 34% have a workforce that is 21-50% exempt and 27% have a workforce with more than 50% exempt employees. Unions represent employees at 19% of our survey participant employers.
Privately held organizations are represented by 57% of survey participants and nonprofits account for 17%. Public corporations make up 9% and governments are represented by 8%. Industries include manufacturing (17%); health care and social assistance (14%); finance and insurance (9%); and professional, technical, and scientific services (8%). Educational services represent 6% of our survey participants and retail trade accounts for 4%.
The positions held by our 1,493 survey participants include HR Coordinator (5%), HR Generalist (9%), HR Specialist (5%), HR Manager (26%), HR Director (23%), HR VP or above (9%), and other area with HR responsibilities (23%).