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Study: Employee Perks Benefit Companies

Study: Employee Perks Benefit Companies

The benefits of employee perks for workers themselves are clear, but a new study highlights some of the ways these offerings are actually critical for the companies themselves.

The study, conducted by the Principal Financial Group and the Harvard Business Review, examined 58 of The Principal's 10 Best Companies for Employee Financial Security. The research showed companies that supported employees with a variety of benefits saw higher growth and dividends.

The survey also highlighted the fact that many firms decided against cutting employee benefits in order to cut costs.

"We took a very strong look at cutting benefits, but we decided there would be a backlash down the road," Jim Albertson, human resources manager at CIPCO, said in the study. "We didn’t want to sacrifice long-term positive effects for short-term cost savings."

According to the Huffington Post, 74 percent of the companies polled said they had implemented a wellness program over the past decade, while another 46 percent added group insurance benefits.

Such benefits can also boost employee morale, which can ultimately impact productivity in a positive manner.