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| Health Benefits |
Benefit Importance
As it can be noted from the chart below, health insurance and defined contribution plans are evaluated the most essential benefits to employees, while stock options are rated as the least essential benefit to employees. This is an interesting statistic seeing as many companies tend to offer stock options as a type of benefit, especially to those working in upper management.
Importance of
Benefit Program | 1 Qtr
2007 EE | 1 Qtr
2006 EE | 1 Qtr
2005 EE | 1 Qtr
2004 EE | 1 Qtr
2003 EE | | Health Insurance | 91%SIG | 86% | 89% | 92% | 88% | | Defined Contribution Plans | 72% | 68% | 73% | 74% | 70% | | Defined Benefit Plans | 56% | 55% | 56% | 59% | 57% | | Disability Insurance | 52% | 55% | 53% | 58% | 56% | | Life Insurance | 44%SIG | 50% | 47% | 53% | 54% | | Profit Sharing/Bonus | 43% | 44% | 45% | 47% | 41% | | Stock Options | 17% | 20% | 19% | 20% | 80% |
SIG= Significant at the 95% confidence level
What benefits should be improved upon
Health insurance is still at the top of the list for importance, as well as what needs to be improved upon. You can see from the table below that improvement of health insurance is over 50 percent greater than the call for a defined contribution plan.
| Ranking | Benefits | 1 Qtr
2006 EE | 1 Qtr
2005 EE | 1 Qtr
2001 EE | 1 Qtr
2007 EE | | 1 | Health Insurance | 45% | 43% | 43% | 40% | | 2 | Defined Contribution Plan | 17%SIG | 13% | 16% | 25% | | 3 | Profit Sharing/Bonus Plan | 6% | 6% | 5% | 9%
| | 4 | Defined Benefit Plan | 6% | 5% | 3% | 4%
| | 5 | Life Insurance | 3% | 3% | 3% | 2% |
SIG= Significant at the 95% confidence level
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