• The Benefits and Policies Employers Are Offering to the Class of 2014

    Spotlight for Career Services Professionals
    Spotlight for Recruiting Professionals
    November 13, 2013

    Life insurance, medical insurance, and 401(k) retirement plans are the benefits and policies most often offered by employers to Class of 2014 college graduates, according to results from NACE's Job Outlook 2014 survey.

    Nearly all of the employers responding to the survey indicated they will offer life insurance, medical insurance, and 401(k) retirement plans to their new hires. Most respondents also noted they will offer annual salary increases, dental insurance, and an employee assistance/counseling program. (See Figure 1.)

    While the benefits and policies that employers offer new college graduates are generally consistent from year to year, there are two notable changes from last year. Four out of five respondents to the current survey are offering bonus/commission plans—up from just under 70 percent—and a larger percentage are offering flextime.

    NACE collected data for the Job Outlook 2014 survey from its college recruiting professional members from August 5 through September 13, 2013.A total of 208 surveys were returned for a response rate of 19.8 percent. The Job Outlook 2014 report is available at www.naceweb.org/surveys/job-outlook.aspx or through the MyNACE area of NACEWeb.

    Figure 1: Benefits and policies, 2013-14 and 2012-13

    Benefit/Policy % of Respondents Who Will Offer in 2013-14 % of Respondents Who Offered in 2012-13
    Life insurance 98.8% 98.9%
    Medical insurance 98.8% 98.9%
    401(k) retirement plan 97.0% 97.8%
    Annual salary increases 96.4% 94.4%
    Dental insurance 94.7% 98.9%
    Employee assistance/counseling program 94.7% 93.9%
    Tuition reimbursement 86.0% 84.6%
    Casual dress policy 84.8% 87.6%
    Bonus/commission plans 80.1% 69.9%
    Planned social activities 78.7% 79.0%
    Frequent performance reviews (more than one per year) 74.7% 73.4%
    Benefits to domestic partners 74.5% 70.9%
    Flextime 65.5% 57.6%
    Family-friendly benefits 63.0% 64.0%
    More than two weeks' vacation 58.8% 57.6%
    On-site fitness center 51.5% 51.4%
    Telecommuting 41.4% 39.2%
    Pension plan 31.9% 28.0%
    Stock options 30.7% 28.0%
    Day care facilities 10.5% 13.0%
    Company car 9.9% 7.9%
    Payback of existing student loans 4.3% 1.7%

    Source: Job Outlook 2014, National Association of Colleges and Employers