When 'work/life' perks replace pay hikes
Employers are increasingly turning to perks to reward employee performance rather than hiking base salaries, according to two new surveys.
A US Salary Increase Survey of 856 organizations by Hewitt Associates found 78 percent of them offer non-monetary performance-related rewards, an increase of 8 percent since 1999 - and 31 percent since 1990.
And an e-mail survey by the American Compensation Association and the Segal Co. found 18 percent of 1,256 organizations polled were allocating work/life benefits - flex time, tuition assistance, paid-time-off programs - to award good employee performance. The survey also found 48 percent of organizations rewarded employees with nonmonetary compensation such as stock ownership or merchandise.
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