Growing Company Sales Linked to Richer Benefits Packages
Aflac, May 2011
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Companies that offer richer employee benefits packages may grow faster than other companies, according to Aflac Inc. In its annual WorkForces Report – the result of a survey of over 4,000 benefits decision makers and other working adults conducted in fall 2010 and spring 2011 – the provider of supplemental insurance for employees found that employers with growing sales were more likely to report offering every benefit it asked about than employers with shrinking sales were.
The percentage offering major medical, for example, is 85 percent at employers with rising sales, 80 percent at employers with steady sales and 74 percent at employers with falling sales.
The gap was widest for vision benefits. Only 45 percent of employers with falling sales offer vision benefits, compared with 57 percent of the employers with steady sales and 66 percent of the employers with rising sales.
The report also reveals that the percentage offering...
- 401(k)s was 19 percent greater at firms with growing rather than declining sales.
- flexible work options was 8 percent greater at firms with growing rather than declining sales.
- flexible scheduling was 14 percent greater at firms with growing rather than declining sales.
Finally, it also found that the ability for the overall benefits package to be "very influential" on the following desired business outcomes was greatly enhanced at firms with growing sales, compared with their counterparts experiencing declining sales:
- Employee loyalty
- Job satisfaction
- Likelihood to refer a friend
