Watson Wyatt Data Services 2007/2008 Survey Report on Employee Benefits

Based on responses from 587 organizations that provided benefit information on more than 4.3 million employees, the report provides a comprehensive review of the plan provisions and costs of the most commonly offered health and welfare benefit programs currently being provided by the employer community.

The report is organized by individual benefit sections, including benefit costs, medical benefits for active employees, paid leave, disability, basic and supplemental life insurance, flexible benefits and retiree and part-time employee benefits. Within each section, responses are displayed according to organization size for the entire sample and then again within For-Profit and Not-For-Profit organizations.  Responses are also broken down within industry sectors and within geographic regions. Organizations can make use of this report by using it as a benchmarking tool to compare what other employers within and across the same or similar industry sectors, regions and employee size groups are offering as employer-sponsored benefits.
 
Preferred Provider Organizations (PPOs) remain the most prevalent type of medical benefit delivery structure, with enrollment by 57.4 percent of employees at companies responding to the survey and being the primary plan offered by 66.3 percent of survey respondents. Health Maintenance Organizations (HMOs) and Exclusive Provider Organizations (EPOs) remain less common.

Dental coverage is the second most common employer-sponsored benefit, offered by 98.2 percent of the surveyed employers. Dental Preferred Provider Organizations (DPPOs) are the most common type of plan, as measured both by employee enrollment (54.6 percent) and primary prevalence (65.7 percent).

The percentage of employers offering their workers some type of a defined contribution plan (401(k), thrift, profit sharing, and 403 (b)) has increased to 99.6 percent of 2007 survey respondents. This compares with 99.5 percent in 2006 and 98.1 percent in 2005. The most popular plan is the 401(k) plan, the primary plan for 90.4 percent of this year’s respondents.
The 2007/2008 Survey Report on Employee Benefits is available in a printed book format.

About Watson Wyatt Data Services
Watson Wyatt Data Services (WWDS), a wholly owned subsidiary of Watson Wyatt Worldwide, is a leading provider of compensation, benefits, and employment practices information to the global employer community.  From offices around the world, we solicit, analyze, and publish an extensive library of printed, interactive and online survey reports. Our compensation databases are recognized worldwide as the most reliable source of current data for compensation planning.

Global scope, local knowledge …
Covering more than 80 countries across six continents, our data centers in the U.S., Canada, Europe, Asia, and Latin America annually compile reports on the remuneration, benefits, and employment practices of local and multinational companies.  Our “in-country” experts apply their local knowledge of the varied employment markets, practices, and customs to deliver a complete compensation picture that can be used to create sound, market-based pay programs for entire organizations. Our international databases contain compensation information covering millions of employees based on the annual survey participation of organizations ranging from emerging growth companies to many of the world’s largest conglomerates. 

In addition to compensation surveys, WWDS also publishes references that help HR practitioners attract, retain, and reward exceptional employees. These guides cover a wide variety of subject areas, including variable pay, performance management, and personnel policies on a local, regional, and global basis. For more information, visit our Web site at WWDS.com.

For more information, contact:
MaryBeth Iannaccone
Watson Wyatt Data Services
Tel: (201) 843-1177, extension 3480
E-mail: Marybeth.iannaccone@watsonwyatt.com