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HRM Best Practices Responds to Retirement Savings in Economic Crisis

Over 7 million employees and beneficiaries have account balances totaling more than $500 billion invested in Retirement Savings Plans. For the overwhelming majority of participants, their account balances represent the largest or second largest assets they will ever own. The major dollar amounts involved underscore the importance of human resource management responsibilities and fiduciary duties associated with these plans.

Monday, June 29, 2009

New SHRM Reports Highlight Trends in Employee Benefits

The Society for Human Resource Management (SHRM) released the employee benefits survey report that details trends for 274 benefits over five years, with attention to the recession of the past year. Though U.S. employers continue to offer an extensive selection of employee benefits, 60 percent of HR professionals say the recession has caused their organizations to scale back or hold steady on benefit offerings.

In this fragile economy, organizations are looking for ways to manage costs while at the same time dealing with the escalating expenses of employee benefits.

[Read more about 2009 Employee Benefits Survey Report from SHRM]

What Do These Findings Mean for Businesses?

Employees consistently rate benefits as one of the key factors in employee job satisfaction. It is important for an employee benefits package to be attractive to both current and prospective employees as well as cost-effective, especially in this economic downturn.

Learn more about how MMC can help.

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MMC, Inc. was established in 1983 for the purpose of providing proficient Human Resource Consulting and highly effective administrative Outsourcing functions. Our goal is to offer quality service that sets the highest standards and exceeds the expectations of our client. To accomplish this task, we have assembled a team of experienced professionals from every field of Human Resources to offer a wide range of services. Take a look for more information. And as always, we are always ready to answer any questions you may have.