Trends in Company Perks
06/03
CRI
Upper Saddle River, N.J. – June 2003 -
Compensation Resources, Inc. (CRI) , a consulting firm specializing in Compensation and Human Resources practices, conducted a survey on employee perquisites ranging across all industries. Participating companies were asked to identify the perks offered to their employees.
The following table identifies the most popular perks provided to all levels of employees:
| Perk Provided | Executives
| Sr. Mgmt.
| Mgmt.
| Supervisors
| Professionals
| All Other Ees.
|
Cellular Phone | 76.0%
| 60.4%
| 41.7%
| 29.2%
| 31.3%
| 14.6%
|
Entertainment / Meal Allowance
| 40.6%
| 33.3%
| 30.2%
| 25.0%
| 26.0%
| 17.7%
|
Severance Agreement
| 33.3%
| 25.0%
| 21.9%
| 19.8%
| 17.7%
| 15.6%
|
Holiday Parties / Gatherings
| 66.7%
| 64.6%
| 65.6%
| 62.5%
| 64.6%
| 62.5%
|
Tuition Reimbursement
| 72.9%
| 74.0%
| 71.9%
| 71.9%
| 71.9%
| 67.7%
|
Due to recent economic and corporate instabilities, it appears that there has been a reduction in Executive perks. To support this trend, results from our survey were compared against the ECS Survey Report on Non-Qualified Benefits and Perquisite Practices * for 2001 and 2002.
Perk Provided to Executives | 2001
| 2002
| 2003 (CRI)
|
Company Car | 60.7% | 61.3% | 50.0%
|
Country Club
| 32.9% | 34.3% | 12.5%
|
Financial Counseling
| 28.3% | 29.8% | 16.7%
|
First Class Air Travel
| 14.2% | 18.9% | 12.5%
|
Spouse Travel
| 8.2% | 7.6% | 3.1%
|
____________________________
CRI provides Compensation and Human Resources consulting to start-up, emerging, and middle market companies.
CRI specializes in Executive Compensation, Salary Administration, Performance Management, Sales Compensation, and Expert Witness services for litigation matters. For more information on this survey or the services we provide please contact us at 877-934-0505 or
www.compensationresources.com.
* ECS Survey Report on Non-Qualified Benefits and Perquisite Practices ; Watson Wyatt Data Services (2001/2002 and 2002/2003)
* Does not include government mandated benefits.
