Compensation.BLR.com, where compensation professionals go for reliable compensation data, conducted its annual Survey of Employee Benefits in late 2004. The Business & Legal Reports salary data website surveyed more than 3,000 U.S. employers on benefit practices such as military leave and floating holidays.
"The changes in salary payments to active duty reservists and guard members represent a landmark shift," commented Susan Schoenfeld, BLR’s senior compensation editor. "This unintended consequence of extended active duty tours in Iraq and Afghanistan is severely affecting employers – and the nation’s citizen soldiers." Companies obviously feel that they cannot continue their formerly generous policies and have had to cut back. But Schoenfeld points out a consideration that savvy employers seem to be keeping in mind. "As the employment market tightens, retaining these soldiers when they return home will become increasingly important," she said. "Smart employers will improve retention by continuing to pay the difference between their military and civilian salaries."
Floating holidays starting to sink
Only a few years ago it seemed like floating holidays were going to replace company-designated holidays. But BLR’s Employee Benefits Survey found that the percentage of employers not offering floating holidays to their employees increased from 51% in 2003 to an anticipated in 66% in 2005.
Employers may obtain a valuable Executive Summary of BLR’s 2005 Employee Benefits Survey at http://www.blr.com/82008500/WBP1267
Old Saybrook, Conn.-based Business & Legal Reports, Inc. has published plain-English HR and compensation compliance and training materials since 1977. Contact BLR: 800-727-5257 or email@example.com.