5 Workplace Benefits That Are Fast Disappearing
Education Benefits
Are you a student who is looking for some education benefits to support your career? Well you need to think it over again because employers who offer workers help paying for college costs has now drastically reduced.
The proportions of employers offering these benefits have now reduced to just over half that is 54 against from 62 percent in 2010. Additionally, the proportion of employers willing to pay for cross-training to develop skills not directly related to the job has declined by 10 percentage points to 39 percent.
“This is an investment by the employer, and if a lot of employees take advantage of it, then it can be a huge cost to the organization," said Evren Esen, director of SHRM's survey programs. She further added that, “It may also be that employers are using the educational assistance and then leaving, so it's not really benefiting the organization."
Vacation Time Cashouts
Taking time off from work is now a thing of the past because only a small number of employers, i.e., around 8 percent, allow workers to cash out their paid vacation days, as against 18 percent in 2010. Additionally, the proportion of employers offering paid personal leaves has also declined from 29 percent in 2010 to 22 percent in 2014.
Esen said, "If you offer sick leave and you allow a certain number of days to roll over, and then if the employee doesn't use those days beyond what is allowed to roll over, there is really no cost to the employer." "If you allow them to donate that time, it is dollars on their bottom line," she added.
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