"Flexible Approach to Benefits Around the World"
No author cited
Hewitt Associates, January 2003.
Available Online
According to this extensive study by Hewitt Associates, flexible benefits
plans are seeing wider implementation all over the world. The study looks
at the practices of companies in 27 countries, including Australia, Canada,
the United Kingdom and the United States. Some of these countries were found
to have well-developed flexible benefits plans with wide popularity, while
many others were still in the initial stages of introducing them. Hewitt
found that the primary drivers behind promoting flex plans were a demographically
varied workforce, the increasing cost of medical coverage, the tax treatment
of non-cash items, a national culture accepting of individual choice, and
a favorable regulatory environment. Factors that inhibited the introduction
of flex plans included employers reluctant to allow individual choice, a
fear of increased administrative costs and vendors unwilling to branch out
into new product lines. The study reports that companies that have implemented
flexible plans have found them cost effective and a means to gain a competitive
edge in the pursuit of talent.
Price: $300
