Group benefits: A rewarding option

By Ashim Khemani
|CHRR, Guide to Pensions & Benefits|Last Updated: 12/04/2001

Despite the current temporary economic slowdown, employers are still competing hard to attract and retain the best talent. And they’re spending the money to do it in a variety of ways: salary, bonuses, vacations, pensions, stock options—the list goes on. Now add to that list yet one more form of employee reward that has been accepted as a critical element in competitive compensation strategies: group benefits.

Group benefits costs now exceed 4.5 per cent of gross payroll and are climbing at a rate that exceeds both inflation and GDP.