Executive Perks Keep Employees Plugged In
Oct. 11, 2007—The newly released Executive Compensation 2007/2008 survey of nearly 5,300 employers found 63.2% of organizations offer cell phones to executives as a perk. In addition, 44% of companies provided laptops or home PCs in 2007. Car allowances and company cars are both offered by approximately one-third of organizations.
When comparing additional perks, 26.2% offered supplemental life insurance. This year, 16.6% of companies had a supplemental disability program, while 10.6% provided supplemental executive retirement plans. Only a small percentage of companies offered supplemental vacations and medical insurance, 5.4% and 6.4% respectively.
During the last three years, the number of organizations offering each kind of executive perquisite has remained consistent. Other executive perks mentioned in the Executive Compensation study were:
-33.3% offer a car allowance, and 29.7% provide a company car.
-16.4% are given club membership(s).
-6.4% provide supplemental medical insurance
-4.9% offer legal counseling.
-3.1% provide employees with an airline VIP lounge membership.
-18.1% receive an annual physical exam.
-3.4% provide dependent tuition reimbursement.
-4.8% offer post-retirement insurance.
-19.6% offer voluntary deferred compensation programs.
Executive Compensation 2007/2008 analyzes national and regional data by base pay and total cash compensation for 40 executive and senior management positions. Information was collected from nearly 5,300 organizations across the country with almost 26,000 incumbents. Compdata Surveys is a compensation and benefits survey data provider.