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Archive

New Hires Get Paychecks and Little Else

New Hires Get Paychecks and Little Else

While recent data suggest hiring is on the rise, a new study reveals that many employees new to the job won't find the same perks they were accustomed to.

The latest jobs report from Glassdoor shows that bonuses, health care and other benefits are being cut for a number of employees.

Specifically, 15 percent of the surveyed companies made cuts to employee perks such as commuter subsidies, while 17 percent said they were reducing or eliminating bonuses. In addition, 17 percent of the employees surveyed said their health care benefits had been reduced.

Just one in 10 employees reported their employer added benefits, which included new perks such as flexible hours or the option to work remotely.

The report also shows companies are being stingy with raises. More than 40 percent of the employees surveyed said they are not expecting a raise in the next year.

Despite companies' decisions to start slashing incentives, the quarterly Glassdoor Employment Confidence Survey reveals encouraging news when it comes to the job market.

During the fourth quarter of 2011, more than 40 percent of the employees surveyed thought it was likely they would be able to find a job that matched their experience and compensation levels in the next six months if they lost their current job, an increase of 3 percentage points from the previous quarter.

Among the unemployed, 30 percent indicated they believe they can land a job that meets their compensation and skill levels in the next six months, also up 3 percentage points.

Concerns that co-workers would be laid off dropped 4 percentage points from the third quarter to 28 percent, the lowest level since the survey began.

Employees also are showing optimism in their company's ability to succeed, according to the study. Forty percent of those surveyed expect their company’s outlook to improve in the next six months, up 7 percentage points since September.

The research was based on surveys of more than 2,300 U.S. employees.

Chad  Brooks
Chad Brooks

Chad Brooks is a Chicago-based freelance writer who has nearly 15 years experience in the media business. A graduate of Indiana University, he spent nearly a decade as a staff reporter for the Daily Herald in suburban Chicago, covering a wide array of topics including, local and state government, crime, the legal system and education. Following his years at the newspaper Chad worked in public relations, helping promote small businesses throughout the U.S. Follow him on Twitter.