Survey: Employers cutting benefit costs - Silicon Valley / San Jose Business Journal:

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“The responses indicate that as employers developp benefit plans for 2010 they are looking for ways to reducdbenefit costs, without further reducing benefits,” said Mariannre Fazen, executive director of the “Surprisingly, many responded that they plan to increases their wellness programs.” • Thirty-five percent of employers responded that they plan to increasde their wellness programs. • Companies identified as its two bigges t concerns limitedbenefits budgets, and limited merit budget and bonue pools. About 68% of companies are concerned or very concerne about limited merit budget and bonus andabout 53% are concernedf about limited benefits budgets.
• To weather the economifc downturn, almost half of respondents are auditinbg or planning to audit their dependent eligibility in order to reducer the number of individuals And 41% plan to increasre employee costs of benefit plans, while more than one-third have reduced or are planning to reduce staff. • About 89% of employers believe that workers will respond to the economidc downturn bydelaying retirement. Also, 83% of employerse say their workers are concerned aboutfjob security, and 42% think theit employees have been impactede by low morale.
The survey was submitted to the association'sw employer members and facilitated by in The association's 900-plus memberes represent a broad cross-section of benefitsz professionals in Texas, Oklahoma, Louisiana. Arkansas, Missouroi and Kansas, but are not limited to those