Results Released!  2019/2020 Policies & Benefits Survey

By Monica Sorenson, PHR, SHRM-CP, Senior HR & Survey Analyst 
Published April 9, 2019

Policy Benefit Survey coversHR Source is excited to announce the release of the 2019/2020 Policies & Benefits Surveys. These surveys are produced every other year in both national and local, Chicagoland versions. The reports take a comprehensive look at health and welfare benefits, retirement benefits, pay practices, working conditions, paid time off, recruitment, training and development, and employee/community relations.

The Chicagoland report contains information from 185 participating organizations. The largest category of employers fell into the 1-99 employee range. 27.5% of respondents are in the manufacturing sector and 71.2% are in the combined services sector. Out of the total number of participants, 13% report having union employees. 67% of the respondents have a revenue size of $24.9 million or less.

Highlights from the 2019/2020 Chicagoland report include:

  • 97% of respondents offer employees life insurance with 89% paying the full premium amount.T
  • The average number of paid sick/personal days is 10.1, which is an increase over the prior survey.
  • Paid Time-Off (PTO) banks continue to increase in popularity with 27% of organizations offering this benefit. Those offering PTO banks typically include vacation, sick, and personal days.
  • PPOs continue to be the most popular health insurance plan at 90%, followed by HMOs at 55%. HRAs are offered by approximately 15% of employers. Average office visit co-pays for HMOs are $23 (regular) vs. $41 (specialist), and PPOs are $24 (regular) vs. $41 (specialist).  
  • Domestic partner benefits are offered by 39% of organizations, which is consistent with the national rate.  
  • 401(k)/403(b)/457 plans remain the most popular form of retirement savings plans with an average of 85% of participants offering it to employees. Eligibility periods remain the same with 47% of participants allowing employees to participate either immediately or within the first month of employment. 
  • Job-based compensation plans such as market pricing (35.2%) and formal job evaluation systems (15.7%) are the most common, with individual-based plans such as skill-based pay and competency-based pay found in roughly 7% of all organizations.
  • Relaxed dress codes continue to gain popularity.  This year, organizations that allow for “casual” dress codes jumped from an average of one day per week in 2017/2018 to seven days per week in 2019/2020. “Business casual” dress went from four days per week in 2017/2018 to five days per week in 2019/2020.
  • 17% of employers offer telecommuting to employees, which is a slight increase over what was reported in the 2017/2018 survey. Part-time work continues to be the most popular alternative work schedule at about 31%.
  • On average, employees earn around 10 days of paid holidays. If offered, most organizations offer one paid floating holiday, which is consistent with the previous edition of the survey.

We extend our sincere appreciation to all the organizations that took the time to participate in this survey. Member participants were emailed instructions on how to download their complimentary Chicagoland and national reports earlier this week. If your organization missed the opportunity to participate, or if you’re interested in purchasing a copy of the Chicagoland report and/or national report, please visit our survey store.

Download our survey calendar and never miss another free report! 

 

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