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According to a new report from Care.com, many U.S. employers are looking to revamp their benefits packages this year. The survey suggests that 95% of leaders are planning to re-examine their strategies, with nearly half of respondents – some 47% – looking to cut back benefits.
So should employees expect dramatic reductions? Not quite. Though few organizations are expanding benefits overall, some select benefits, like family care benefits, are being prioritized by companies even while other benefits, like adoption and fertility assistance, are cut. That means that benefits as a whole will go down – but for some employees, the personal utility they get out of their benefits package might actually increase.
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