Magazine article Workforce

Utilities Are the Benefit Leader

Magazine article Workforce

Utilities Are the Benefit Leader

Article excerpt

Industry Snapshot

If you practice HR in a large company in the utilities or durable manufacturing industry, chances are that you are providing your employees with higher benefit levels than in other industries. If, however, you're in HR for the arts/entertainment/recreation, retail trade or wholesale trade industries, it's likely that your benefits are significantly below median market levels.

Those are the findings of William M. Mercer, Inc., in its annual "Spotlight on Benefits" report. The report looks at benefit programs in 700 large US. organizations (the majority with 2,000 or more employees) to give a snapshot of benefit trends and practices. No dollar amounts are reported in the survey, just the relationship of each sector to the total population of companies surveyed. "When designing or redesigning benefit programs, employers want to know whether their programs are competitive," says Kent Gregory, the Mercer consultant who prepares the report.

For retirement and savings benefits, the utility and durable manufacturing industries are 21 percent above the overall market median. …

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